Department of the Treasury 2018 – Federal Register Recent Federal Regulation Documents

Public Approval of Tax-Exempt Private Activity Bonds
Document Number: 2018-28371
Type: Rule
Date: 2018-12-31
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations on the public approval requirement applicable to tax-exempt private activity bonds issued by State and local governments. The final regulations update and replace existing regulations to address statutory changes, streamline the public approval process, and reduce administrative burdens. The final regulations affect State and local governments that issue tax-exempt private activity bonds.
Reissuance of State or Local Bonds
Document Number: 2018-28370
Type: Proposed Rule
Date: 2018-12-31
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that address when tax-exempt bonds are treated as retired for purposes of section 103 and sections 141 through 150 of the Internal Revenue Code (Code). The proposed regulations are necessary to unify and to clarify existing guidance on this subject. The proposed regulations affect State and local governments that issue tax-exempt bonds.
Agency Information Collection Activities; Emergency Submission for OMB Review; Comment Request; Quarterly Dealer Agenda Survey
Document Number: 2018-28286
Type: Notice
Date: 2018-12-28
Agency: Department of the Treasury
The Department of the Treasury has submitted the following information collection request to the Office of Management and Budget (OMB) for review and clearance utilizing emergency review procedures in accordance with the Paperwork Reduction Act of 1995. Emergency review and approval of this collection has been requested from OMB by January 10, 2019. The public is invited to submit comments on this request.
Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks
Document Number: 2018-28267
Type: Rule
Date: 2018-12-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
On August 29, 2018, the OCC, Board, and FDIC (collectively, the agencies) issued interim final rules that were effective immediately to implement section 210 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (Economic Growth Act), which was enacted on May 24, 2018. The agencies are now adopting the interim final rules as final without change. The interim final rules and final rules implement section 210 of the Economic Growth Act, which amended section 10(d) of the Federal Deposit Insurance Act (FDI Act) to permit the agencies to examine qualifying insured depository institutions (IDIs) with under $3 billion in total assets not less than once during each 18-month period. In addition, these final rules adopt as final the parallel changes to the agencies' regulations governing the on-site examination cycle for U.S. branches and agencies of foreign banks, consistent with the International Banking Act of 1978 (IBA).
Investing in Qualified Opportunity Funds; Correction
Document Number: 2018-28207
Type: Proposed Rule
Date: 2018-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to notice of proposed rulemaking and notice of public hearing (REG-115420-18) that was published in the Federal Register on Monday, October 29, 2018. The proposed regulations are providing guidance under new section 1400Z-2 of the Internal Revenue Code relating to gains that may be deferred as a result of a taxpayer's investment in a qualified opportunity fund.
Financial Crimes Enforcement Network; Bank Secrecy Act Advisory Group; Solicitation of Application for Membership
Document Number: 2018-28178
Type: Notice
Date: 2018-12-28
Agency: Department of the Treasury
FinCEN is inviting the public to nominate financial institutions, trade groups, and non-federal regulators or law enforcement agencies for membership on the Bank Secrecy Act Advisory Group. New members will be selected for three-year membership terms.
Rules Regarding Certain Hybrid Arrangements
Document Number: 2018-27714
Type: Proposed Rule
Date: 2018-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations implementing sections 245A(e) and 267A of the Internal Revenue Code (``Code'') regarding hybrid dividends and certain amounts paid or accrued in hybrid transactions or with hybrid entities. Sections 245A(e) and 267A were added to the Code by the Tax Cuts and Jobs Act, Public Law 115-97 (2017) (the ``Act''), which was enacted on December 22, 2017. This document also contains proposed regulations under sections 1503(d) and 7701 to prevent the same deduction from being claimed under the tax laws of both the United States and a foreign country. Further, this document contains proposed regulations under sections 6038, 6038A, and 6038C to facilitate administration of certain rules in the proposed regulations. The proposed regulations affect taxpayers that would otherwise claim a deduction related to such amounts and certain shareholders of foreign corporations that pay or receive hybrid dividends.
Limitation on Deduction for Business Interest Expense
Document Number: 2018-26257
Type: Proposed Rule
Date: 2018-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This notice of proposed rulemaking provides rules regarding the limitation on the deduction for business interest expense after the enactment of recent tax legislation. Specifically, these regulations provide general rules and definitions. The regulations also provide rules for calculating the limitation in consolidated group, partnership, and international contexts. The regulations affect taxpayers that have deductible business interest expense, other than certain small businesses, electing real property trades or businesses, electing farming businesses, and certain utility businesses. This document also withdraws a notice of proposed rulemaking relating to the disallowance of a deduction for certain interest paid or accrued by a corporation. This document also provides notice of a public hearing on the proposed regulations.
Gain or Loss of Foreign Persons From Sale or Exchange of Certain Partnership Interests
Document Number: 2018-28167
Type: Proposed Rule
Date: 2018-12-27
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations implementing section 864(c)(8) of the Internal Revenue Code. The proposed regulations affect certain foreign persons that recognize gain or loss from the sale or exchange of an interest in a partnership that is engaged in a trade or business within the United States. The proposed regulations also affect partnerships that, directly or indirectly, have foreign persons as partners.
Qualified Financial Contracts Recordkeeping Related to Orderly Liquidation Authority
Document Number: 2018-28074
Type: Rule
Date: 2018-12-27
Agency: Department of the Treasury
The Secretary of the Treasury (the ``Secretary''), as Chairperson of the Financial Stability Oversight Council, after consultation with the Federal Deposit Insurance Corporation (the ``FDIC''), is issuing a determination regarding a request for an exemption from certain requirements of the rule implementing the qualified financial contracts (``QFC'') recordkeeping requirements of Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'' or the ``Act'').
Disclosure Update
Document Number: 2018-28051
Type: Rule
Date: 2018-12-27
Agency: Department of the Treasury
The Department of the Treasury (Treasury) is issuing this final rule to amend certain regulations issued under the Government Securities Act of 1986 (GSA). Treasury's recordkeeping and reporting requirements for registered government securities brokers and dealers cross-reference existing Securities and Exchange Commission (SEC) regulations, with modifications. The SEC recently amended certain of its disclosure requirements that may have become redundant, duplicative, overlapping, outdated, or superseded as a result of changes to U.S. Generally Accepted Accounting Principles (U.S. GAAP). The technical amendments to the Treasury recordkeeping rules and Form G-405, referenced in the regulations, conform to SEC amendments regarding the reporting of extraordinary gains and losses, the cumulative effect of changes in accounting principles, and comprehensive income on the annual reports and Form X-17A-5 (Financial and Operational Combined Uniform Single Report or ``FOCUS Report'').
Notice of OFAC Sanctions Actions
Document Number: 2018-27963
Type: Notice
Date: 2018-12-27
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
OCC Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches; Technical Amendments
Document Number: 2018-27952
Type: Rule
Date: 2018-12-27
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency (OCC) is amending its enforceable guidelines relating to recovery planning standards for insured national banks, insured federal savings associations, and insured federal branches (Guidelines) by increasing the average total consolidated assets threshold for applying the Guidelines from $50 billion to $250 billion. In addition, the OCC is changing the Guidelines to decrease from 18 months to 12 months the time within which a bank should comply with the Guidelines after the bank becomes subject to them. Finally, the OCC is making technical amendments to remove outdated compliance dates.
Community Reinvestment Act Regulations
Document Number: 2018-27791
Type: Rule
Date: 2018-12-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, the Board, and the FDIC (collectively, the Agencies) are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ``small bank'' or ``small savings association'' and ``intermediate small bank'' or ``intermediate small savings association.'' As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Notification of Inflation Adjustments for Civil Money Penalties
Document Number: 2018-27784
Type: Rule
Date: 2018-12-27
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency (OCC) is providing notice of its maximum civil money penalties as adjusted for inflation. The inflation adjustments are required to implement the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.
Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures
Document Number: 2018-27786
Type: Proposed Rule
Date: 2018-12-26
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
This document corrects OCC's Regulatory Flexibility Act certification for the proposed rule that was published in the Federal Register on September 28, 2018, entitled ``Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures.''
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Application for Extension of Time for Payment of Tax Due to Undue Hardship
Document Number: 2018-27783
Type: Notice
Date: 2018-12-26
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Labeling and Advertising Requirements Under the Federal Alcohol Administration Act
Document Number: 2018-27766
Type: Notice
Date: 2018-12-26
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Qualified Financial Contracts Recordkeeping Related to Orderly Liquidation Authority
Document Number: 2018-27758
Type: Rule
Date: 2018-12-21
Agency: Department of the Treasury
The Secretary of the Treasury (the ``Secretary''), as Chairperson of the Financial Stability Oversight Council (``FSOC''), after consultation with the Federal Deposit Insurance Corporation (the ``FDIC''), is issuing a determination regarding requests for exemption from certain requirements of the rule implementing the qualified financial contracts (``QFC'') recordkeeping requirements of Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'' or the ``Act'').
Agency Information Collection Activities; Submission for OMB Review; Comment Request; The Community Development Financial Institutions Program-Certification Application
Document Number: 2018-27752
Type: Notice
Date: 2018-12-21
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibition on Funding of Unlawful internet Gambling
Document Number: 2018-27751
Type: Notice
Date: 2018-12-21
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests
Document Number: 2018-27735
Type: Notice
Date: 2018-12-21
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Proposed Collection; Comment Request for Iranian Financial Sanctions Regulations Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts
Document Number: 2018-27623
Type: Notice
Date: 2018-12-21
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Office of Foreign Assets Control (OFAC) within the Department of the Treasury is soliciting comments concerning OFAC's Iranian Financial Sanctions Regulations Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Schedule E (F 1040)
Document Number: 2018-27598
Type: Notice
Date: 2018-12-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Schedule E (Form 1040), Supplemental Income and Loss.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 14145
Document Number: 2018-27597
Type: Notice
Date: 2018-12-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 14145, IRS Applicant Contact Card.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 8038-T
Document Number: 2018-27596
Type: Notice
Date: 2018-12-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate.
Base Erosion and Anti-Abuse Tax
Document Number: 2018-27391
Type: Proposed Rule
Date: 2018-12-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that provide guidance regarding the tax on base erosion payments of taxpayers with substantial gross receipts and reporting requirements thereunder. The proposed regulations would affect corporations with substantial gross receipts that make payments to foreign related parties. The proposed regulations under section 6038A would affect any reporting corporations within the meaning of section 6038A or 6038C.
Proposed Changes to Applicability Thresholds for Regulatory Capital and Liquidity Requirements
Document Number: 2018-27177
Type: Proposed Rule
Date: 2018-12-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are inviting comment on a proposal that would establish risk-based categories for determining applicability of requirements under the regulatory capital rule, the liquidity coverage ratio rule, and the proposed net stable funding ratio rule for large U.S. banking organizations. The proposal would establish four categories of standards and apply tailored capital and liquidity requirements for banking organizations subject to each category. The proposal is consistent with a separate proposal issued by the Board that would apply certain prudential standards for large U.S. banking organizations based on the same categories. The proposal would not amend the capital and liquidity requirements currently applicable to an intermediate holding company of a foreign banking organization or its subsidiary depository institutions. This proposal also would not amend the requirements applicable to Federal branches or agencies of foreign banking organizations.
Availability of Records
Document Number: 2018-27546
Type: Rule
Date: 2018-12-20
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The United States Department of the Treasury (Treasury), Bureau of the Fiscal Service, is streamlining its regulations by removing regulations that are no longer necessary because they are duplicative of other existing regulations, and do not add any substantive requirements, limitations, or instructions to Treasury's regulations.
Regulations Governing United States Securities
Document Number: 2018-27545
Type: Rule
Date: 2018-12-20
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The United States Department of the Treasury, Bureau of the Fiscal Service, is streamlining its securities regulations by removing regulations that are no longer necessary because they do not have any current or future applicability.
Notice of OFAC Sanctions Actions
Document Number: 2018-27534
Type: Notice
Date: 2018-12-20
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Agency Information Collection Activities; Proposed Renewal; Comment Request; Reports of Foreign Financial Accounts Regulations and FinCEN Form 114, Report of Foreign Bank and Financial Accounts
Document Number: 2018-27513
Type: Notice
Date: 2018-12-20
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN invites comment on a renewal, without change, of existing information collection requirements concerning reports of foreign financial accounts and FinCEN Form 114, Report of Foreign Bank and Financial Accounts (``FBAR''). This request for comments is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995.
Notice of OFAC Sanctions Actions
Document Number: 2018-27453
Type: Notice
Date: 2018-12-19
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Regulations Reducing Burden Under FATCA and Chapter 3
Document Number: 2018-27290
Type: Proposed Rule
Date: 2018-12-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations eliminating withholding on payments of gross proceeds, deferring withholding on foreign passthru payments, eliminating withholding on certain insurance premiums, and clarifying the definition of investment entity. This notice of proposed rulemaking also includes guidance concerning certain due diligence requirements of withholding agents and guidance on refunds and credits of amounts withheld.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 8586
Document Number: 2018-27288
Type: Notice
Date: 2018-12-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 8586, Low-Income Housing Credit.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Revenue Procedure 2018-4, Revenue Procedure 2018-5, Revenue Procedure 2016-6, and Revenue Procedure 2018-8
Document Number: 2018-27287
Type: Notice
Date: 2018-12-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Revenue Procedure 2018-4 (Letter Rulings), Revenue Procedure 2018-5 (Technical Advice), Revenue Procedure 2016-6 (Determination Letters), and Revenue Procedure 2018-8 (User Fees).
Modernized Drawback
Document Number: 2018-26793
Type: Rule
Date: 2018-12-18
Agency: Department of Homeland Security, U.S. Customs and Border Protection, Department of the Treasury
This document adopts as final, with changes, proposed amendments to the U.S. Customs and Border Protection (CBP) regulations implementing changes to the drawback regulations, as directed by the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA). These regulations establish new processes for drawback pursuant to TFTEA, which liberalize the merchandise substitution standard, simplify recordkeeping requirements, extend and standardize timelines for filing drawback claims, and require the electronic filing of drawback claims. This document also provides details with respect to the process required to perfect TFTEA-based claims filed under CBP's Interim Guidance procedures. Further, this document also finalizes regulations clarifying the prohibition on the filing of a substitution drawback claim for internal revenue excise tax in situations where no excise tax was paid upon the substituted merchandise or where the substituted merchandise is the subject of a different claim for refund or drawback of tax.
Proposed Establishment of the West Sonoma Coast Viticultural Area
Document Number: C2-2018-26321
Type: Proposed Rule
Date: 2018-12-17
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
Tax Return Preparer Due Diligence Penalty Under Section 6695(g); Correction
Document Number: 2018-26969
Type: Rule
Date: 2018-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9842) that were published in the Federal Register on Wednesday, November 7, 2018. The final regulations relate to the tax return preparer penalty.
Expansion of the Monticello Viticultural Area
Document Number: 2018-27125
Type: Rule
Date: 2018-12-14
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) is expanding the approximately 1,320-square mile ``Monticello'' viticultural area in Albemarle, Greene, Nelson, and Orange Counties, in Virginia, by approximately 166 square miles, into Fluvanna County, Virginia. The established viticultural area and the expansion area are not located within any other established viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase.
Establish Pricing for 2018 United States Mint American InnovationTM
Document Number: 2018-27069
Type: Notice
Date: 2018-12-14
Agency: United States Mint, Department of Treasury, Department of the Treasury
The United States Mint is announcing the pricing for 2018 American Innovation coin products. These prices are listed in the table below.
Establishment of the Van Duzer Corridor Viticultural Area and Clarification of the Eola-Amity Hills Viticultural Area Boundary Description
Document Number: 2018-27017
Type: Rule
Date: 2018-12-14
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) establishes the approximately 59,871-acre ``Van Duzer Corridor'' viticultural area in Polk and Yamhill Counties, Oregon. The viticultural area lies entirely within the established Willamette Valley viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB also clarifies the boundary description of the adjacent Eola-Amity Hills viticultural area.
Expansion of the Arroyo Seco Viticultural Area
Document Number: 2018-27014
Type: Rule
Date: 2018-12-14
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) is expanding the approximately 18,240-acre ``Arroyo Seco'' viticultural area in Monterey County, California, by approximately 90 acres. The established Arroyo Seco viticultural area and the expansion area both lie within the established Monterey viticultural area and the larger, multi-county Central Coast viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase.
Proposed Establishment of the Eastern Connecticut Highlands Viticultural Area
Document Number: 2018-27016
Type: Proposed Rule
Date: 2018-12-13
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to establish the approximately 1,246 square-mile ``Eastern Connecticut Highlands'' viticultural area in all or portions of Hartford, New Haven, Tolland, Windham, New London, and Middlesex Counties in Connecticut. The proposed viticultural area is not within and does not overlap any other established AVA. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB invites comments on this proposed addition to its regulations.
Proposed Establishment of the West Sonoma Coast Viticultural Area
Document Number: C1-2018-26321
Type: Proposed Rule
Date: 2018-12-12
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests
Document Number: 2018-26841
Type: Notice
Date: 2018-12-12
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2018-26625
Type: Notice
Date: 2018-12-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning taxation of gain or loss from certain nonfunctional currency transactions.
Real Estate Appraisals
Document Number: 2018-26507
Type: Proposed Rule
Date: 2018-12-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, Board, and FDIC (collectively, the agencies) are inviting comment on a proposed rule to amend the agencies' regulations requiring appraisals for certain real estate-related transactions. The proposed rule would increase the threshold level at or below which appraisals would not be required for residential real estate-related transactions from $250,000 to $400,000. Consistent with the requirement for other transactions that fall below applicable thresholds, regulated institutions would be required to obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices. The proposed rule would make conforming changes to add transactions secured by residential property in rural areas that have been exempted from the agencies' appraisal requirement pursuant to the Economic Growth, Regulatory Relief and Consumer Protection Act to the list of exempt transactions. The proposed rule would require evaluations for these exempt transactions. Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the proposed rule would amend the agencies' appraisal regulations to require regulated institutions to subject appraisals for federally related transactions to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.
Guidance Related to the Foreign Tax Credit, Including Guidance Implementing Changes Made by the Tax Cuts and Jobs Act
Document Number: 2018-26322
Type: Proposed Rule
Date: 2018-12-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that provide guidance relating to the determination of the foreign tax credit under the Internal Revenue Code (the ``Code''). The guidance relates to changes made to the applicable law by the Tax Cuts and Jobs Act (the ``Act''), which was enacted on December 22, 2017. Guidance on other foreign tax credit issues, including in relation to pre-Act statutory amendments, is also included in this document. The proposed regulations provide guidance needed to comply with statutory changes and affect individuals and corporations claiming foreign tax credits.
Office of the Assistant Secretary for International Affairs; Survey of U.S. Ownership of Foreign Securities as of December 31, 2018
Document Number: 2018-26491
Type: Notice
Date: 2018-12-06
Agency: Department of the Treasury
By this Notice, the Department of the Treasury is informing the public that it is conducting a mandatory survey of ownership of foreign securities by U.S. residents as of December 31, 2018. This Notice constitutes legal notification to all United States persons (defined below) who meet the reporting requirements set forth in this Notice that they must respond to, and comply with, this survey. The reporting form SHCA (2018) and instructions may be printed from the internet at: http://www.treasury.gov/resource-center/data-chart-center/ tic/Pages/forms-sh.aspx#shc. Definition: Pursuant to 22 U.S.C. 3102, a United States person is any individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Government, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, including a government- sponsored agency), who resides in the United States or is subject to the jurisdiction of the United States. Who Must Report: The reporting panel is based upon the data submitted for the 2016 Benchmark survey and the June 2018 TIC report ``Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents'' (TIC SLT). Entities required to report will be contacted individually by the Federal Reserve Bank of New York. Entities not contacted by the Federal Reserve Bank of New York have no reporting responsibilities. What To Report: This report will collect information on holdings by U.S. residents of foreign securities, including equities, long-term debt securities, and short-term debt securities (including selected money market instruments). How To Report: Copies of the survey forms and instructions, which contain complete information on reporting procedures and definitions, may be obtained at the website address given above in the Summary. Completed reports can be submitted electronically or mailed to the Federal Reserve Bank of New York, Data and Statistics Function, 6th Floor, 33 Liberty Street, New York, NY 10045-0001. Inquiries can be made to the survey staff of the Federal Reserve Bank of New York at (212) 720-6300 or email: SHC.help@ny.frb.org. Inquiries can also be made to Dwight Wolkow at (202) 622-1276, email: comments2TIC@do.treas.gov. When To Report: Data must be submitted to the Federal Reserve Bank of New York, acting as fiscal agent for the Department of the Treasury, by March 1, 2019. Paperwork Reduction Act Notice: This data collection has been approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act and assigned control number 1505-0146. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by OMB. The estimated average annual burden associated with this collection of information is 49 hours per respondent for end-investors and custodians that file Schedule 3 reports covering their securities entrusted to U.S. resident custodians, 146 hours per respondent for large end-investors filing Schedule 2 reports, and 546 hours per respondent for large custodians of securities filing Schedule 2 reports. Comments concerning the accuracy of this burden estimate and suggestions for reducing this burden should be directed to the Department of the Treasury, Attention: Administrator, International Portfolio Investment Data Reporting Systems, Room 5422, Washington, DC 20220 and to OMB, Attention: Desk Officer for the Department of the Treasury, Office of Information and Regulatory Affairs, Washington, DC 20503.