New regulations to the Premium Tax Credit seek to eliminate fraudulent claims. The U.S. Department of the Treasury and the Internal Revenue Service (IRS) proposed new regulations to…
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Treasury Department Imposes Penalties on Bank of America for Processing Sanctions Evasions and Money Laundering
The fine is the third-largest in U.S. history. The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced penalties of over $1.21 billion against Bank of America for violating…
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IRS Adds Citizenship Certification to 2026 Tax Forms for Tax Credits
Under federal law, noncitizens are not eligible for tax credits. The U.S. Internal Revenue Service (IRS) released a draft of the 2026 Form 1040 that, for the first…
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President Trump Reports Deal to Reduce Diesel Prices
The Treasury Department is issuing a temporary license for Russian diesel to be sold internationally. President Donald Trump announced a deal with Russia on Friday to lower the…
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Operation Economic Outcast Targets Iran’s Industrial Infrastructure
New sanctions have been issued to target Iranian automotive and railway industries. The U.S. Department of the Treasury announced new sanctions targeting Iranian rail and automotive conglomerates under…
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Senate Confirms Cabinet Member Before Recess
Senate Banking Committee holds recess hearing to advance other nominees. The U.S. Senate narrowly confirmed Keith Sonderling as Secretary of the Department of Labor this week. The narrow…
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State Department Announces Further Sanctions and Restrictions on Cuba
U.S. banks are prohibited from maintaining accounts for Cuban entrepreneurs. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published new Cuba Sanctions Regulations this week,…
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Treasury Department Announces Completion of Auto Enrollment in Trump Accounts
Secretary Bessent said this is part of the administration’s “effort to give every American child the opportunity to build generational wealth and jump-start their financial future.” The Treasury…
Read MoreU.S. Extends Sanctions on Iranian Airlines to Supporters
President Trump says he’s in “deciding mode” on next steps regarding the Islamic Republic. U.S. Treasury Secretary Scott Bessent announced additional sanctions against Iran’s commercial airlines and those…
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OFAC Disrupts Digital Asset Exchange Supporting Iran
The Justice Department has also targeted cryptocurrency proceeds from black-market sales of sanctioned Iranian crude oil and petroleum. The Treasury Department’s Office of Foreign Assets Control designated BitBank, a…
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