Department of the Treasury

  • Donald Trump Nov 14, 2019

    US Budget Deficit Surges as Federal Spending Hits Record Highs

    The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record. The Treasury Department said Wednesday that the deficit last month totaled $134.5 billion, up from a shortfall in October 2018 of $100.5 billion.

  • Donald Trump Nov 2, 2019

    Trump Wages Coast-To-Coast Legal Battle to Keep Tax Returns Hidden

    The effort to obtain President Donald Trump’s tax returns is heating up as the president and his administration battle coast to coast to prevent them from falling into hostile hands and potentially being made public, NBC News reports. In New York, the president seeks to prevent Manhattan District Attorney Cyrus Vance from obtaining his tax information as part of an...

  • Donald Trump Nov 2, 2019

    Trump Wages Coast-To-Coast Legal Battle to Keep Tax Returns Hidden

    The effort to obtain President Donald Trump’s tax returns is heating up as the president and his administration battle coast to coast to prevent them from falling into hostile hands and potentially being made public, NBC News reports. In New York, the president seeks to prevent Manhattan District Attorney Cyrus Vance from obtaining his tax information as part of an...

  • Donald Trump Nov 2, 2019

    Trump Wages Coast-To-Coast Legal Battle to Keep Tax Returns Hidden

    The effort to obtain President Donald Trump’s tax returns is heating up as the president and his administration battle coast to coast to prevent them from falling into hostile hands and potentially being made public, NBC News reports. In New York, the president seeks to prevent Manhattan District Attorney Cyrus Vance from obtaining his tax information as part of an...

  • Donald Trump Nov 2, 2019

    Trump Wages Coast-To-Coast Legal Battle to Keep Tax Returns Hidden

    The effort to obtain President Donald Trump’s tax returns is heating up as the president and his administration battle coast to coast to prevent them from falling into hostile hands and potentially being made public, NBC News reports. In New York, the president seeks to prevent Manhattan District Attorney Cyrus Vance from obtaining his tax information as part of an...

  • United States Nov 2, 2019

    US Launches Review of China-Owned Video App TikTok: Reports

    Multiple published reports say that the U.S. government has launched a national-security review of the China-owned video app TikTok, popular with millions of U.S. teens and young adults. The reports Friday from Reuters,The New York Times and others said that the interagency Committee on Foreign Investment in the United States, which reviews acquisitions by foreign firms, has opened an inquiry...

  • United States Nov 2, 2019

    US Launches Review of China-Owned Video App TikTok: Reports

    Multiple published reports say that the U.S. government has launched a national-security review of the China-owned video app TikTok, popular with millions of U.S. teens and young adults. The reports Friday from Reuters,The New York Times and others said that the interagency Committee on Foreign Investment in the United States, which reviews acquisitions by foreign firms, has opened an inquiry...

  • Donald Trump Sep 6, 2019

    Treasury Unveils Plan to Privatize Fannie Mae, Freddie Mac

    The Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion. The administration’s plan calls for returning Fannie and Freddie to private ownership and reducing...

  • Donald Trump Jul 2, 2019

    House Committee Files Lawsuit Over Trump Tax Returns

    A House committee sued the Trump administration in federal court Tuesday for access to President Donald Trump’s tax returns, setting up a legal showdown over the records. The House Ways and Means Committee said it needs the documents for an investigation into tax law compliance by the president, among other things. It asked the court to order the administration to...

  • Executive May 25, 2019

    Botched Your Tax Withholding in 2018? It's About to Get More Complicated

    Fine-tuning your tax withholding is about to get a little more complicated. The Internal Revenue Service is expected to release a draft of its new Form W-4, the form employees use to adjust the amount of income tax withheld from their pay, by the end of May. The draft form, which is expected to be in use for 2020, will...

  • Donald Trump Apr 11, 2019

    Mnuchin Postpones Decision on Handing Over Trump Tax Returns

    The Treasury Department has missed a deadline to deliver President Donald Trump’s tax returns to the House Ways and Means Committee chairman. In a letter to committee Chairman Richard Neal, D-Mass., on Wednesday, Treasury Secretary Steven Mnuchin said his department hasn’t decided whether to comply with the demand and said Treasury will consult with the Justice Department and “carefully” review...

  • Donald Trump Apr 9, 2019

    Mnuchin Says He'll ‘Follow the Law' on Trump Tax Returns

    Treasury Secretary Steven Mnuchin said Tuesday that his department intends to “follow the law” and is reviewing a request by a top House Democrat to provide President Donald Trump’s tax returns to lawmakers. Mnuchin told a House panel that he has not had any communications with the president or his top staff about the department’s decision on whether to provide...

  • Donald Trump Apr 3, 2019

    House Democrats Formally Request Trump Tax Returns

    Democrats have officially launched their assault on President Donald Trump’s tax returns. Ways and Means Committee Chairman Richard Neal, D-Mass., on Wednesday evening said he had filed a formal request with the Treasury Department for the documents, NBC News reported. Read More

  • Daniel Macht Mar 22, 2019

    IRS Giving Millions a Pass on Penalties for 2018 Underpayment

    The IRS once again is making it easier on taxpayers facing unexpected penalties following implementation of the Tax Cuts and Jobs Act. Individuals who failed to pay a certain percentage of their federal tax bill throughout the year are subject to an underpayment penalty when they file. On Friday, the agency said it is lowering that threshold to 80 percent...

  • Donald Trump Feb 13, 2019

    National Debt Hits New Milestone, Topping $22 Trillion

    The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department’s daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure has been accelerating since the passage of Trump’s $1.5 trillion tax...

  • United States Jan 28, 2019

    The New Tax Law Has a Bunch of Changes. Here's What You Need to Know as Filing Season Begins

    It’s time to sharpen your pencils and work on that 2018 income tax return. Just make sure you understand the new tax law first. After one year under the Tax Cuts and Jobs Act, the overhaul of the federal tax code, a new survey from NerdWallet found that confusion about the law continues.

  • Donald Trump Jan 22, 2019

    US Cancels Trade Planning Meeting With China, Source Says

    The White House rejected a trade planning meeting with Chinese counterparts this week due to outstanding disagreements between the two sides over the enforcement of intellectual property rules. Officials from the U.S. Trade Representative’s office were set to meet with two Chinese vice ministers this week to try to resolve trade differences before the March 1 deadline, but the meeting...

  • NBC Dec 19, 2018

    U.S. Imposes New Russia-Related Sanctions, Citing Election Interference, ‘Other Malign Activities'

    The United States imposed fresh Russia-related sanctions on Wednesday and said it intended to lift sanctions against Rusal Plc, EN+ and ESE, according to the Treasury Department. As NBC News reported, the three companies had agreed to restructuring changes including reducing Russian tycoon Oleg Deripaska’s stake. The Treasury added 18 individuals and four entities to the sanctions list, including the...

  • president Dec 13, 2018

    Maria Butina, Accused of Being Russian Agent, Pleads Guilty to Conspiracy

    Russian operative Maria Butina, who is accused of infiltrating politically powerful U.S. organizations, including the National Rifle Association, in an effort to push Moscow’s agenda, pleaded guilty Thursday to a conspiracy count. Butina has agreed to cooperate with federal prosecutors and pleaded guilty in a Washington, D.C., courtroom to one count of conspiracy to violate the law governing foreign agents...

  • Donald Trump Dec 6, 2018

    Fact Check: Economists Say Trump Off on Tariffs' Impact

    President Donald Trump promised on Twitter that tariffs would maximize the country’s economic heft and “MAKE AMERICA RICH AGAIN.” Almost all economists say the president is wrong. That’s because tariffs are taxes on imports. They can cause higher prices, reduce trade among countries and hurt overall economic growth as a result.

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