Compliance News
Regulatory and enforcement updates that affect vendor validation and 1099 reporting — IRS notices and OFAC sanctions actions, collected here as they are published so your team doesn't have to watch several feeds. Every item links back to the original announcement.
Iran-related Designations
Specially Designated Nationals List UpdateThe following individuals have been added to OFAC's SDN List:ASADROUZ, Abbass (Arabic: عباس اسدروز) (a.k.a. ASADRUZ, Abbas; a.k.a. ASDRUZ, Abbas), Iran; DOB 23 Mar 1971; POB...
Democratic Republic of the Congo-related Designations; Counter Terrorism Designations; Counter Narcotics Designations Updates
Specially Designated Nationals List UpdateThe following individuals has been added to OFAC's SDN List:KABAREBE, James, Rwanda; DOB 23 Dec 1959; POB Rwanda; alt. POB Uganda; nationality Rwanda; Gender Male; Passport...
Important Announcement for Users of OFAC's License Application Portal
Recent Actions Body To improve your experience with the license application process, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has...
Issuance of Executive Order Imposing Sanctions on the International Criminal Court; International Criminal Court-related Designation
Recent Actions Body On February 06, 2025, the President signed Executive Order (E.O.) 14203, "Imposing Sanctions on the International Criminal Court."OFAC has updated...
Don’t wait on hold; use IRS online tools for faster help
Presidents Day weekend is peak time for IRS phone traffic. Skip the wait by visiting IRS.gov. IR-2025-22, Feb. 12, 2025 WASHINGTON — With the 2025 filing season underway and the...
Cyber-related Designations
Cyber-related Designations Press Release Link Recent Actions Body Specially Designated Nationals List UpdateThe following individuals have...
Counter Terrorism Designations; Iran-related Designations; RSS Feed Retirement
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has officially retired the OFAC RSS feed.OFAC continues to provide recent actions updates by email. Users can sign up for those email...
2025 tax filing season starts as IRS begins accepting tax returns today; taxpayers have many options for help
IR-2025-18, Jan. 27, 2025 WASHINGTON — The Internal Revenue Service opened the 2025 tax filing season today and is accepting and processing federal individual tax year 2024...
Termination of Emergency With Respect to the Situation in the West Bank; West Bank-related Designation Removals
On January 20, 2025, the President signed a new Executive Order (E.O.), "Initial Rescissions Of Harmful Executive Orders And Actions," which, among other actions, revoked E.O. 14115, "Imposing Certain Sanctions on...
Balkans-related, Counter Terrorism, and Cyber-related Designations; Issuance of Counter Terrorism General License; Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Haas Automation, Inc.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $1,044,781 settlement with a California-based manufacturer of machine tools and related parts regarding its potential civil...
IRS issues guidance for the District of Columbia and states that have paid family and medical leave programs
IR-2025-16, Jan. 15, 2025 WASHINGTON — The Internal Revenue Service today issued guidance on the income and employment tax treatment of contributions and benefits paid in certain...
Issuance of Syria-related and Cyber-related Executive Orders; North Korea and Sudan Designations; Russia-related Designation Removal; Settlement Agreement between the U.S. Treasury's Office of Foreign Assets Control and Family International Realty LLC
Last night, the President signed a new Executive Order (E.O.), "Taking Additional Steps with Respect to the Situation in Syria." Today, the President signed another new E.O., "Strengthening and Promoting Innovation in...
IRS reminder: Wage statements and certain information returns due by Jan. 31
IR-2025-15, Jan. 15, 2025 WASHINGTON — As tax filing season nears, the Internal Revenue Service reminds businesses to submit wage statements and certain information returns to the...
Russia-related Designations; Issuance of Russia-related and Russia-/Ukraine-related General Licenses; Implementation of the Federal Civil Penalties Inflation Adjustment Act
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has amended its regulations to implement for 2025 the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil...
Counter Terrorism Designations; Venezuela-related and Counter Narcotics Designation Removals; Publication of OFAC/OFSI Memorandum of Understanding
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published its Memorandum of Understanding with the United Kingdom's Office of Financial Sanctions Implementation (OFSI).Additionally, OFAC...
Russia-related and Russia-/Ukraine-related Designations; Venezuela-related Designations; Publication of Russia-related Determinations; Issuance of Russia-related General Licenses and Frequently Asked Questions
OFAC has also issued Russia-related General License 8L, "Authorizing the Wind Down of Transactions Related to Energy;" Russia-related General License 115A, "Authorizing Certain Transactions Related to Civil Nuclear...