Treasury Department

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.

A sudden acceleration in tax inflows has reduced the likelihood of the Treasury Department being at risk of a federal payments default as soon as June.

The Treasury Department, based on fresh tax revenue data, is set to release an updated estimate of the "X date" when the U.S. can no longer meet its obligations.

The new commissioner lauded the agency's performance this filing season, thanks to the extra funding from last year's Inflation Reduction Act.

The question of when the U.S. could default will come into sharp relief this week when the Treasury reveals how big its tax take is likely to be.

Proposed regulations would identify micro-captive transactions as abusive after the Supreme Court ruled against the IRS in a case two years ago involving the transactions.

The service described some of the rules it plans to include in upcoming proposed regs for what qualifies as an "energy community."

The IRS has expanded its enforcement efforts, including cross-checking foreign accounts reported on FBARs with information reported on tax returns.

Automakers have been waiting for the U.S. Treasury Department to help them figure out which of their cars are eligible for lucrative electric-vehicle tax credits. The Treasury's response: Keep waiting.

Proposed guidance aims to reduce U.S. reliance on China for batteries and minerals.

Long-awaited proposed guidance gives details on the new tax credits for electric vehicles under the Inflation Reduction Act.

The West Virginia senator ramped up criticism over an upcoming interpretation of content rules for electric vehicle tax credits, which he suspects will be too broad and generous to foreign suppliers.

The auto world will know by Friday where the Biden administration stands on some of the toughest policy questions surrounding the U.S. transition to electric vehicles.