International company network concealing origins of petroleum shipments. The Office of Foreign Assets Control (OFAC) at the Department of the Treasury has sanctioned an international group of countries…
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Administration Focuses on Cryptocurrency Regulation
Federal departments implement actions to curb fraud and money laundering. Administration officials spoke last week about the publishing of reports identifying gaps in cryptocurrency regulation. The reports call…
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Treasury Department Reports $220 Billion August Deficit
The number is 29% higher than August of 2021. This week, the Treasury Department posted the U.S. government’s receipts for August 2022, reporting a $220 billion budget deficit.…
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Treasury Secretary Says Gas Prices Could Spike Again
Oil prices are on the increase. Oil prices rose Monday as supply concerns are mounting heading into the winter months. Although gasoline at the pump has gone down in…
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IRS Admits Website Exposure of Confidential Information
Officials say leaked taxpayer data did not include social security numbers. The Internal Revenue Service has acknowledge that private taxpayer information was accidentally disclosed on its website earlier…
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Federal Reserve Board Meets in Wyoming
Chairman Powell says efforts to reduce inflation will “bring some pain.” Members of the Federal Reserve have been meeting in Jackson Hole, Wyoming, and on Friday, Chairman Jerome…
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$750 Million in Small Business Credit Approved
Treasury Department approved funds for the states of New York, Colorado, Oregon, and Montana. The Department of Treasury recently announced the approval of four state plans for small…
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IRS Given Deadline for Overhaul
Treasury Secretary wants a plan within six months. Secretary of the Treasury Janet Yellen asked the Internal Revenue Service to develop an operational plan for deploying the $80…
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Secretary Yellen Prepares IRS for Inflation Act Policy
She says the budget increase will not impact middle-class tax audits. Secretary of the Treasury Janet Yellen sent a letter to the Internal Revenue Service (IRS) last week…
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Treasury Finds Gas Prices Improved with SPR Releases
Officials estimate fuel releases kept prices 20 to 40 cents lower. The Department of the Treasury released calculations this past week that estimate tapping into the Strategic Petroleum…
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