News and reports from the Department of the Treasury.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned eight individuals linked to Mexico's La Nueva Familia Michoacana drug cartel, as announced by Secretary Janet L. Yellen in Atlanta, Georgia. These sanctions target those involved in trafficking fentanyl, cocaine, and methamphetamine into the United States.

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated twelve individuals in executive and senior leadership roles at AO Kaspersky Lab. This action aims to address continued cybersecurity risks associated with the organization.

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final rules today on prevailing wage and registered apprenticeship (PWA) requirements under the Inflation Reduction Act. As part of the Biden-Harris Administration's Investing in America agenda, these rules aim to build a skilled workforce for the clean energy economy while ensuring that jobs in this sector are well-paying.

The U.S. Department of the Treasury issued a Notice of Proposed Rulemaking (NPRM) today to implement Executive Order 14105, titled “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern.” This NPRM follows an Advance Notice of Proposed Rulemaking (ANPRM) from last August and includes draft regulations and explanatory discussions, inviting public comment.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated a network comprising two individuals and seven entities that provide significant revenue sources for Republika Srpska (RS) President Milorad Dodik and his family. The action targets companies linked to Dodik and his son, Igor Dodik, which have allegedly manipulated government contracts to benefit their business interests.

Oregon Becomes First State to Offer New Free Tax Filing Option Next Year Made Possible by President Biden’s Inflation Reduction Act

The U.S. Department of the Treasury announced today that taxpayers received $556,685,001 from a series of auctions held from June 3 to 13, 2024. These auctions were conducted to sell warrants for common stock of 11 publicly traded airlines. The airlines issued these warrants to the Treasury in 2020 and 2021 as partial compensation for financial assistance and loans provided under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Consolidated Appropriations Act, 2021, and the American Rescue Plan Act of 2021.

On June 18, 2024, Secretary of the Treasury Janet L. Yellen addressed a press conference in Atlanta, Georgia, alongside representatives from the Drug Enforcement Administration and the U.S. Attorney’s Office to announce new measures against the opioid crisis.

Washington – The U.S. Department of the Treasury released Treasury International Capital (TIC) data for April 2024 today. The next release, which will report on data for May 2024, is scheduled for July 18, 2024.

The U.S. Department of the Treasury and IRS have announced that consumers have saved over $1 billion in upfront costs on more than 150,000 clean vehicle purchases since January 1, 2024. This milestone is part of the Biden-Harris Administration's efforts to reduce transportation costs for Americans.

WASHINGTON — The United States has imposed sanctions on four individuals linked to the Islamic State of Iraq and Syria (ISIS), including members of an ISIS-associated human smuggling network. These actions were taken in close coordination with the Government of Türkiye, which is also taking domestic action against this network.

On June 12, 2024, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced a new regulatory initiative aimed at closing a significant tax loophole used by large, complex partnerships. This measure is part of ongoing efforts to ensure wealthy individuals, complex partnerships, and large corporations pay their owed taxes.

The U.S. Department of the Treasury announced today that the United States has formally notified the Russian Federation to confirm the suspension of specific provisions of the 1992 Tax Convention between the two nations. The affected sections include Paragraph 4 of Article 1 and Articles 5-21 and 23, as well as the operation of its accompanying Protocol.

WASHINGTON – Secretary of the Treasury Janet L. Yellen today released a statement at the conclusion of the G7 Summit:

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated two individuals and five entities for facilitating weapons procurement for Ansarallah, commonly known as the Houthis. Additionally, OFAC has designated one individual and one company, and identified one vessel involved in commodity shipments that fund Houthi weaponry.