United States Department of the Treasury

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United States Department of the Treasury

The department of the federal government responsible for the printing of money, the collection of taxes, the regulation of banks, and the management of public debt. Created in 1789, the U.S. Treasury issues Treasury securities, which is debt that the American government uses to pay for some of its functions. It also administers the Internal Revenue Service, which collects taxes and decides how tax laws and regulations are enforced, and the U.S. Mint, which prints and disburses currency. The Treasury Department is responsible for investigating and prosecuting certain financial crimes, such as tax evasion and counterfeiting. It is headed by the Secretary of the Treasury, who is appointed by the President with the consent of the Senate.
References in periodicals archive ?
Before May 15, 1939, under Circular 230, accountants who wanted to enroll with the Treasury Department were required to show that they were of good reputation, possess necessary qualifications (which may have included an exam, but varied from administration to administration) and take an oath of allegiance.
Such non-tax-qualified plans are currently in limbo from a tax standpoint - it is uncertain as to how the Treasury Department will treat nonqualified long-term care insurance plans.
The antiterrorism bill allows the Treasury Department to mandate the addition of markers to explosive materials if they're deemed safe and effective.
In addition, Hawthorn issued a warrant to the Treasury Department for the purchase of 245,443 shares of Hawthorn common stock at an exercise price of $18.
The Treasury Department plans to sell its last GM shares by April 2014.
Once the Treasury department and the extended users of treasury information operate within the same system of features and controls, better communication and smoother audits and Sarbanes-Oxley compliance will occur.
Solomon said that the Treasury Department looks forward to working with Congress on the President's proposal.
Echoing the opinion of the Bush Administration, the Treasury Department expressed in a statement that the economy and the insurance industry have recovered considerably since 9/11 and that taxpayers should no longer be saddled with the liability.
But Treasury Department spokesman Molly Millerwise said issuing a list of ``safe'' charities is not the government's responsibility.
In 1999 the Treasury Department approved a label that directs consumers seeking information on "the health effects of wine consumption" to the government's Dietary Guidelines for Americans.
The Treasury Department has already recognized the importance of applying anti-money-laundering controls to the life insurance industry and, as part of the PATRIOT Act, issued proposed rules that for the first time require some insurance companies to establish anti-money-laundering programs.
In the case of Seattle's Barakat Wire Transfer, the settlement money goes through the local Bank of America, to the New York head office, and then to Dubai in the United Arab Emirates, which, according to Rob Nichols, a Treasury Department spokesman, is where "the bad guys" at Al-Barakaat skim an estimated 5 percent for Al Qaeda.

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