Treasury Department

The effective date of final regulations on foreign currency used by multinational companies' qualified business units is being postponed for another year.

Legislation introduced by a mix of Republicans and Democrats would exempt the firms from being considered cryptocurrency "brokers."

The Treasury Secretary waded into the congressional debate over proposed economic and climate legislation.

The former Treasury secretary said that any tax hikes shouldn’t go toward funding fresh outlays.

A worldwide tax deal heralded as a “revolution” for the profits of multinational tech firms has run into a thicket of technical difficulties that will delay implementation to 2024 at the earliest.

The Treasury developed the framework with other federal agencies in response to an executive order from President Biden, even as lawmakers have proposed their own industry-friendly legislation.

The Treasury and the IRS are likely to push off a January date for firms to begin tracking data such as customers’ capital gains and losses.

Effective June 7, isolation of Russia includes sanctions prohibiting U.S. accounting firms — even U.S. firms operating from offices overseas — from providing a variety of services to Russian individuals and entities.

Kimberly Clausing pushed to increase taxes on corporations and wealthy Americans, including upping the domestic corporate rate to 28%.

The federal government’s deficit has shrunk by some $1.57 trillion, driven by record receipts from a strong economy and a slowdown in spending.