Treasury Department

The guidance could spur development of renewable energy under the Inflation Reduction Act.

The Treasury Department said Friday they will be issuing rules for prescription drug makers and importers about a new tax imposed by the IRA.

The Treasury wants to curb the use of some types of transactions by listing them as potentially abusive tax dodges.

Business entities subject to the CTA will face significant new reporting and related record-keeping obligations. There are several things advisors should consider.

Starting Jan. 1, 2024, many small businesses will face a major new reporting requirement — and many of them are completely unaware of it.

A top renewable power trade group endorsed rigorous requirements for a new hydrogen tax credit that would rule out the use of electricity from older wind, solar and nuclear facilities.

Provisions from the IRA aim to spur investment in places that have experienced declines in fossil energy production, especially hard-hit coal-mining towns.

The IRS is providing penalty relief to billion-dollar corporations that haven't paid estimated taxes related to the new 15% corporate alternative tax.

The change brings the total number of EV models eligible for the full tax credits to 22.

The former Treasury secretary sees rates headed higher in the short run, and U.S. taxes rising significantly in the longer run.

Small businesses may be impacted most by rules requiring them to disclose who's really in charge.

More than anything else, that may prove a decisive element in ending the partisan standoff.

The Treasury Secretary Janet Yellen underscored the urgency of the White House reaching a deal with Republicans to raise the debt limit.

The amount of money that the U.S. government has on hand to pay its bills plummeted by $53 billion.

Commissioner Daniel Werfel said the service plans to begin a pilot early next tax season.

She advised Congress that the Treasury may exhaust its special accounting maneuvers to avoid running out of sufficient cash as soon as early June.

The government reached the statutory cap on borrowing in January and the Treasury has since been using special accounting measures to make cash available.

Shrinking revenues make it harder for the Treasury to stay within the federal debt limit, which the department hit in January.

The Treasury Secretary said her department's ability to use special accounting maneuvers to stay within the federal debt limit could be exhausted soon.

The narrow requirements for qualifying for the electric vehicle tax credits are causing some consternation in the auto industry.