Tax Days!
Dear IRS: Enclosed please find my W-2 and 1040. I’m sorry, but even with TurboTax and plenty o’ caffeine, I could not make head or tails of your tax forms this year.
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U.S. Treasury Department
Yellen Becomes First Woman to Lead Treasury Department
After making history as the first woman to chair the Federal Reserve seven years ago, Janet Yellen broke another glass ceiling Monday when she was confirmed as the first female treasury secretary.
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With Billions in the Balance, Court Unravels Treasury’s Tribal Counts
Balking at methodology that put the population of the Shawnee Tribe at zero when it has thousands of members, the D.C. Circuit ordered an injunction Tuesday on how the government administers coronavirus-relief funds to Native Americans.
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Senator: Treasury Dep’t Email Accounts Compromised in Hack
Dozens of email accounts at the Treasury Department were compromised in a massive breach of U.S. government agencies being blamed on Russia, with hackers breaking into systems used by the department’s highest-ranking officials, a senator said Monday after being briefed on the matter.
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US Brands Vietnam, Switzerland as Currency Manipulators
The U.S. Treasury Department has branded Vietnam and Switzerland as currency manipulators while putting China and nine other countries on a watch list in an annual report designed to halt countries from manipulating their currencies to gain unfair trade advantages.
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Russian Hackers Suspected of Breaching US Government Agencies
Hackers suspected of working for Russia broke into the computer systems of the Commerce and Treasury departments, according to multiple media reports released Sunday.
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Justices Struggle With Fannie-Freddie Case Hinged on Presidential Powers
In many ways echoing last year’s Consumer Financial Protection Bureau challenge, shareholders of Fannie Mae and Freddie Mac took on the authority of the federal agency that oversees the mortgage giants Wednesday in a Supreme Court battle implicating billions of dollars.
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Republicans Unwavering on Virus-Relief Bill Scorned as Not Enough by Democrats
Relief for Americans walloped by the Covid-19 pandemic remains elusive, but Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that a Republican proposal that has been making the rounds on Capitol Hill has President Donald Trump’s support.
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Biden Unveils Picks for Top Members of Economic Team
President-elect Joe Biden announced his nominations for key members of his economic team Monday, including one name that many Americans will recognize.
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Biden Expected to Pick Ex-Fed Chair Yellen as Treasury Secretary
President-elect Joe Biden is expected to name Janet Yellen, former chair of the U.S. Federal Reserve, as his Treasury secretary, according to multiple reports.
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Virus Woes, Mnuchin Meddling Send Markets Sliding
A move by the Treasury Department to pull back funds from the Federal Reserve spooked investors on Friday, with markets dipping slightly to end a mishmash week of trading.
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Road to Recovery Is Long, but Powell and Mnuchin Laud Improvements
Over half of all jobs lost in pandemic-hit America have yet to return, but Treasury Secretary Steve Mnuchin and Federal Reserve chairman Jerome Powell offered hopeful analysis on the state of economic recovery Tuesday amid stalled relief talks in Congress.
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Tribes Take Battle Over Covid Emergency Funds to DC Circuit
Nearly six months after Congress earmarked $8 billion for Native tribes in the CARES Act, the Treasury Department argued to the D.C. Circuit on Friday that it can lawfully hand out portions of the coronavirus relief funds to Alaska Native corporations.
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US Budget Deficit Hits Record $3 Trillion Through 11 Months
The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday.
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Capital One Fined $80 Million in Data Breach
The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.
Read moreStimulus Checks
Inmates have sued U.S. Treasury Secretary Steven Mnuchin, the Internal Revenue Service and others, challenging the “unauthorized and unlawful refusal” to issue them coronavirus stimulus checks.
Read moreStates Sue Trump Administration Over New Payday-Lending Rule
Seeking to stop the cycle of unsophisticated borrowers getting trapped in a recurring cycle of debt, multiple states have imposed regulations on payday lenders in recent years – regulations that will no longer apply to some lenders under a new Trump administration rule.
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Monthly Budget Deficit Soars to Record High of $864 Billion
The U.S. budget deficit hit a historic high of $864 billion in June, in large part due to a surge in federal spending aimed at stabilizing the economy during the coronavirus pandemic.
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Fed Chair Warns Recovery Will Be Slow Until Virus Is Contained
With experts suggesting Covid-19 infections in the U.S. could more than double on a daily basis without better containment, the chair of the Federal Reserve also warned Congress on Tuesday that a full economic recovery will remain out of reach until the pandemic is under control.
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Audit of Stimulus Hiccups Hits Wall Street With a Thud
The federal government’s response to the coronavirus recession has helped prop up flailing companies and families, but it is also riddled with problems.
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