Page 13 - October 2017

Treasury Proposes Amendments to new industries have resulted in an increase to size
Internal Revenue Code. standards for six NAICS 2012 industries and part of
one industry, a decrease to size standards for two, a
Treasury proposed amendments to the regulations change in the size standards measure from average
under sections 6051 and 6052 of the Internal annual receipts to number of employees for one, and
Revenue Code (Code). The proposed regulations no change in size standards for twenty industries and
would amend existing regulations to permit part of one industry. This rule is effective
employers to voluntarily truncate employees’ social 10/01/2017. The rule may be viewed at:
security numbers (SSNs) on copies of Forms W-2, https://www.gpo.gov/fdsys/pkg/FR-2017-09-
Wage and Tax Statement, that are furnished to 27/pdf/2017-20705.pdf. Federal Register, Vol. 82,
employees so that the truncated SSNs appear in the No. 186, 09/27/2017, 44886-44895.
form of IRS truncated taxpayer identification
numbers (TTINs). The proposed regulations also SBA Requests Comment on Information
would amend the regulations under section 6109 of Collection.
the Code to clarify the application of the truncation
rules to Forms W–2 and to add an example SBA announced it seeks comment on the information
illustrating the application of these rules. collection titled Secondary Market for Section 504
Additionally, these proposed amendments would First Mortgage Loan Pool Program. SBA is also
delete obsolete provisions and update cross giving notice that it has sent the collection to OMB
references in the Code regulations under sections for review. Comments are due 10/30/2017. The
6051 and 6052. Comments are due 12/18/2017.The notice may be viewed at:
proposal may be viewed at: https://www.gpo.gov/fdsys/pkg/FR-2017-09-
https://www.gpo.gov/fdsys/pkg/FR-2017-09- 29/pdf/2017-20897.pdf. Federal Register, Vol. 82,
20/pdf/2017-19910.pdf. Federal Register, Vol. 82, No. 188, 09/29/2017, 45656.
No. 181, 09/20/2017, 43920-43925.
FCIC Requests Comment on Information
Treasury Requests Comment on Collection.
Information Collection.
The Federal Crop Insurance Corporation (FCIC)
Treasury announced it seeks comment on the announced it seeks comment on the information
information collection titled TARP Capital Purchase collection titled General Administrative Regulations;
Program—Executive Compensation. Treasury is also Subpart V—Submission of Policies, Provisions of
giving notice that it has sent the collection to OMB Policies, Rates of Premium, and Non-Reinsured
for review. Comments are due 10/27/2017. The Supplemental Policies. FCIC is also giving notice
notice may be viewed at: that it has sent the collection to OMB for review.
https://www.gpo.gov/fdsys/pkg/FR-2017-09- Comments are due 12/04/2017. The notice may be
27/pdf/2017-20677.pdf. Federal Register, Vol. 82, viewed at: https://www.gpo.gov/fdsys/pkg/FR-2017-
No. 186, 09/27/2017, 45111. 10-04/pdf/2017-20975.pdf. Federal Register, Vol.
82, No. 191, 10/04/2017, 46211-46212.
SBA Adopts 2017 North American
Industry Classification System for Size SEC Issues Interim Final Temporary
Standards. Rules on Regulation Crowdfunding and
Regulation A.
The Small Business Administration (SBA) is
adopting, without change, its proposed revisions to The Securities and Exchange Commission (SEC) is
small business size standards. With the adoption of adopting interim final temporary rules for issuers
the proposed changes, SBA incorporates OMB’s subject to reporting obligations pursuant to
North American Industry Classification System Regulation Crowdfunding and Regulation A in order
(NAICS) revision for 2017, identified as NAICS to address the needs of companies directly or
2017, into its table of small business size standards. indirectly affected by Hurricane Harvey, Hurricane
NAICS 2017 created 21 new industries by Irma, and Hurricane Maria. The temporary rules
reclassifying, combining, or splitting 29 existing extend the filing deadlines for specified reports and
industries under changes made to NAICS in 2012 forms due pursuant to Regulation Crowdfunding and
(NAICS 2012). SBA’s size standards for these 21 Regulation A for certain issuers. The rules are

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