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Finance & markets · 15/05/2020Updated: 10/17/2026 · 1 min read

IRS Issues Correction to Guidance on Foreign Tax Credits and Consolidated Groups

Summary

The IRS has corrected a proposed rulemaking notice regarding the allocation and apportionment of deductions and foreign taxes, financial services income, and foreign tax redeterminations, which was initially published on December 17, 2019.

Original source language: Federal Register — Department of the TreasuryOpen original release →

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Finance & markets · 10/6/2026

Notice of OFAC Sanctions Action

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has published the names of individuals or entities on its Specially Designated Nationals and Blocked Persons List (SDN List) due to OFAC's determination that certain legal criteria were met. As a result, U.S. persons are prohibited from conducting transactions with these entities, and their property and interests in property subject to U.S. jurisdiction are blocked.

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Finance & markets · 10/7/2026

OFAC Sanctions Actions Notice

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing updates to its sanctions lists, including the removal of individuals and entities from the Specially Designated Nationals and Blocked Persons List (SDN List) and the Non-SDN Palestinian Legislative Council (NS-PLC) List, as well as updates to property and interests in property currently blocked or subject to prohibitions.

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Finance & markets · 10/6/2026

FinCEN Withdraws Proposal on Convertible Virtual Currency Mixing, Citing Section 311 of USA PATRIOT Act

The Financial Crimes Enforcement Network (FinCEN) has withdrawn its proposal to classify international Convertible Virtual Currency (CVC) mixing as a primary money laundering concern, following a review under the USA PATRIOT Act. The move reverses a proposed rulemaking that would have imposed enhanced recordkeeping and reporting requirements on this type of transaction.

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