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The Biden administration has come under pressure to seize the funds outright, something Yellen has said would be illegal under current law.
September 21 -
Anxiety is growing over the pace of work to develop critical guidance on a slew of clean energy tax credits in the Inflation Reduction Act.
September 19 -
The service's LB&I Division has expertise in training agents on examining high-income taxpayers, but the IRS doesn't appear to be leveraging this expertise.
September 5 -
The Internal Revenue Service hopes to process all of the tax correspondence, notice responses and nontax forms it receives digitally in the next two years.
August 2 -
The Treasury Department is trying to modernize the badly outdated agency in a bid to improve customer service and ramp up enforcement.
August 2 -
The Treasury Secretary Janet Yellen underscored the urgency of the White House reaching a deal with Republicans to raise the debt limit.
May 22 -
Republicans rejected a Democratic proposal that would seek to raise revenue by altering a dozen tax provisions.
May 16 -
She advised Congress that the Treasury may exhaust its special accounting maneuvers to avoid running out of sufficient cash as soon as early June.
May 12 -
The government reached the statutory cap on borrowing in January and the Treasury has since been using special accounting measures to make cash available.
May 11 -
The Treasury Secretary said her department's ability to use special accounting maneuvers to stay within the federal debt limit could be exhausted soon.
May 2