INSIDER
The IRS is at risk of losing $20 billion in funding without legislative intervention
Read full article: The IRS is at risk of losing $20 billion in funding without legislative interventionAlready bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen.
US Treasury sanctions a chain of ice cream shops and a pharmacy tied to the Sinaloa Cartel
Read full article: US Treasury sanctions a chain of ice cream shops and a pharmacy tied to the Sinaloa CartelThe U.S. Treasury Department has sanctioned a Mexican ice cream shop chain and a local pharmacy used as investments by drug traffickers.
The IRS wants to end another major tax loophole for the wealthy and raise $50 billion in the process
Read full article: The IRS wants to end another major tax loophole for the wealthy and raise $50 billion in the processThe Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade.
US Treasury official visits Ukraine to discuss sanctions on Moscow and seizing Russian assets
Read full article: US Treasury official visits Ukraine to discuss sanctions on Moscow and seizing Russian assetsA senior U.S. Treasury official has meet with Ukrainian officials in Kyiv to discuss U.S. financial support, enforcing sanctions on Russia and using frozen Russian assets for Ukraineās benefit in the war with Moscow.
US sanctions Zimbabwe president Emmerson Mnangagwa over human rights abuses
Read full article: US sanctions Zimbabwe president Emmerson Mnangagwa over human rights abusesThe United States has sanctioned Zimbabweās President Emmerson Mnangagwa, the First Lady and other government officials for their alleged involvement in corruption and human rights abuses.
US sanctions a United Arab Emirates shipping firm for allegedly violating Russian oil price cap
Read full article: US sanctions a United Arab Emirates shipping firm for allegedly violating Russian oil price capThe U.S. hit a United Arab Emirates shipping firm and its 18 vessels with sanctions after it transported Russian crude oil above the $60 per barrel price cap.
New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit
Read full article: New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax creditAmericans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules being proposed.
US expands its effort to cut off funding for Hamas
Read full article: US expands its effort to cut off funding for HamasThe United States on Friday expanded its effort to cut off funding for Hamas, announcing a second round of sanctions against people and organizations linked to the group since it launched an attack on Israel that killed more than 1,400 people.
US announces sweeping action against Chinese fentanyl supply chain producers
Read full article: US announces sweeping action against Chinese fentanyl supply chain producersThe Biden administration is taking aim at the fentanyl trafficking threat, announcing a series of indictments and sanctions against Chinese companies and executives blamed for importing the chemicals used to make the deadly drug.
US government sanctions Russians on the board of Alfa Group in response to war in Ukraine
Read full article: US government sanctions Russians on the board of Alfa Group in response to war in UkraineThe U.S. Treasury Department has imposed financial sanctions against four Russians on the board of Alfa Group.
New US sanctions are aimed at choking off Russia's access to battlefield supplies and revenue
Read full article: New US sanctions are aimed at choking off Russia's access to battlefield supplies and revenueThe United States has imposed sanctions on roughly 120 firms and people in an effort to choke off Moscowās access to products, money and financial channels that support its continued invasion of Ukraine.
US sanctions South Sudanese officials over conflict-related rapes of hundreds of women and girls
Read full article: US sanctions South Sudanese officials over conflict-related rapes of hundreds of women and girlsThe U.S. has imposed sanctions on a South Sudanese military officer and governor accused in connection with the rapes of hundreds of women and girls.
US says price caps on Russia's oil are cutting revenue nearly in half and weakening its economy
Read full article: US says price caps on Russia's oil are cutting revenue nearly in half and weakening its economyWhen the Group of Seven nations, the European Union and Australia last year announced a plan to cap the price of Russian oil, U.S. officials said it would deliver a most effective blow to Russiaās economy, undermining its greatest revenue source.
Debt limit bill gives Republicans IRS cuts, but Democrats say they expect little near-term impact
Read full article: Debt limit bill gives Republicans IRS cuts, but Democrats say they expect little near-term impactRepublicans are seeking to make good on campaign promises to reduce IRS funding through the proposed debt ceiling and budget cuts package passed by Congress.
Russian arms dealer, son and front firms hit with sanctions
Read full article: Russian arms dealer, son and front firms hit with sanctionsA Russian arms dealer, his son and a group of front companies across Asia, Europe and the Middle East and their leadership have been targeted for U.S. sanctions in an effort to quell Russiaās access to weapons to continue its invasion of Ukraine.
China casts long shadow over US-Africa Leaders Summit
Read full article: China casts long shadow over US-Africa Leaders SummitWith dozens of African leaders descending on Washington this week, the Biden administration is offering a not so subtle pitch in its economic competition with China on the continent: The U.S. offers a better option to African partners.
White House invites dozens of nations for ransomware summit
Read full article: White House invites dozens of nations for ransomware summitThe White House is bringing together three dozen nations, the European Union and a slew of private-sector companies for a two-day summit that looks at how best to combat ransomware attacks.
US busts network providing technology to Russian military
Read full article: US busts network providing technology to Russian militaryThe Biden administration has announced a round of criminal charges and sanctions related to a complicated scheme to procure military technologies from U.S. manufacturers and illegally supply them to Russia for its war in Ukraine.
IMF fees on war-torn countries closer to elimination
Read full article: IMF fees on war-torn countries closer to eliminationThe International Monetary Fund is facing pressure to eliminate, or at least, reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine ā which is one of the fundās biggest borrowers.
US Treasury official to visit India amid Ukraine tensions
Read full article: US Treasury official to visit India amid Ukraine tensionsA high-ranking representative from the Biden administration is set next week to make his first official trip to India since the start of Russiaās invasion of Ukraine.
Yacht of wealthiest Russian oligarch docked in haven Dubai
Read full article: Yacht of wealthiest Russian oligarch docked in haven DubaiThe man considered to be the wealthiest oligarch in Russia, who has been photographed playing ice hockey with President Vladimir Putin, has joined a growing list of those transferring ā or, sailing ā their prized assets to Dubai.
Yellen weighs costs of war on Russia's frozen assets
Read full article: Yellen weighs costs of war on Russia's frozen assetsThe mounting economic damage to Ukraine from Russiaās ongoing bombardment has the U.S. and its allies speeding billions in aid to the beleaguered country ā and looking for other sources of cash, including Russia itself.
Finance heads urged to boost fight against food insecurity
Read full article: Finance heads urged to boost fight against food insecurityTreasury Secretary Janet Yellen has urged world finance leaders to āget concreteā as they look for ways to combat a looming crisis over food insecurity around the globe that Russiaās war in Ukraine has made worse.
Yellen to see Ukraine PM, avoid Russians at global meetings
Read full article: Yellen to see Ukraine PM, avoid Russians at global meetingsTreasury Secretary Janet Yellen plans to meet with Ukraine's prime minister during this weekās spring meetings of the International Monetary Fund and World Bank in Washington.
Live Updates | Russia-Ukraine War
Read full article: Live Updates | Russia-Ukraine WarA U.N. task force is warning in a new report that Russiaās war against Ukraine threatens to devastate the economies of many developing countries that are now facing even higher food and energy costs and increasingly difficult financial conditions.
US, allies aim to force Russia to shift money away from war
Read full article: US, allies aim to force Russia to shift money away from warA Treasury Department official says the United States and its allies are pushing ahead with sanctions aimed at forcing Vladimir Putin to spend Russiaās money propping up its economy rather than sustaining its āwar machineā for the fight in Ukraine.
Treasury: Most COVID rental aid went to low-income residents
Read full article: Treasury: Most COVID rental aid went to low-income residentsThe U.S. Treasury Department has concluded that more than 80% of the billions of dollars in federal rental assistance during the pandemic went to low-income tenants.
Feds launch website for claiming part 2 of child tax credit
Read full article: Feds launch website for claiming part 2 of child tax creditThe White House and Treasury Department launched a revamped Child Tax Credit website meant to help people who were eligible for the expanded tax credit under last yearās pandemic relief bill claim the second half of the payment they were due.
US sanctions Ukrainian officials accused of helping Russia
Read full article: US sanctions Ukrainian officials accused of helping RussiaThe U.S. Treasury Department says it's levying new sanctions against four Ukrainian officials, including two current members of parliament who administration officials say are part of a Russian influence effort to set the pretext for further invasion of Ukraine.
US issues sanctions, visa bans to mark Human Rights Day
Read full article: US issues sanctions, visa bans to mark Human Rights DayThe U.S. issued financial sanctions and visa bans on former and current government officials and entities in nine countries Friday ā including China, Myanmar and Russia ā as part of coordinated actions with Canada and the U.K. to coincide with International Human Rights Day.
Arizona won't stop using COVID money for anti-mask grants
Read full article: Arizona won't stop using COVID money for anti-mask grantsArizona Gov. Doug Ducey is defying a demand that he stop using federal coronavirus relief money to fund an education grant program that can only go to schools without mask mandates.
Treasury says it needs to modernize its economic sanctions
Read full article: Treasury says it needs to modernize its economic sanctionsThe Treasury Department says that the economic and financial sanctions the United States has employed over the past two decades to battle global terrorism, nuclear proliferation, drug cartels and other threats need to adapt to a rapidly changing financial world.
Arizona can't use COVID money for anti-mask grants, feds say
Read full article: Arizona can't use COVID money for anti-mask grants, feds sayThe Biden administration on Tuesday ordered Arizona Gov. Doug Ducey to stop using the stateās federal pandemic funding on a pair of new education grants that can only be directed to schools without mask mandates.
White House blacklists Russian ransomware payment 'enabler'
Read full article: White House blacklists Russian ransomware payment 'enabler'The Biden administration is trying to choke the finances of criminal ransomware gangs by sanctioning a Russia-based virtual currency brokerage it says has been used by at least eight ransomware gangs to launder criminal proceeds.
Treasury Department creates office to oversee virus relief
Read full article: Treasury Department creates office to oversee virus reliefThe Treasury Department is creating a new office to supervise the disbursement of the billions of dollars in relief money passed by Congress to combat the coronavirus-related recession.
Biden names liberal econ team as pandemic threatens workers
Read full article: Biden names liberal econ team as pandemic threatens workersBiden also selected Wally Adeyemo to be Yellenās deputy, which would make him the first Black deputy treasury secretary. Rouse, Tanden and Adeyemo will all require Senate confirmation, and Tanden in particular is already drawing heavy Republican criticism. āTheyāre fairly conventional liberal economists and experts.āStill, the Biden administrationās ambitious goals will face solid opposition from Republicans in Congress. She first made her mark in the Clinton orbit, and served as policy director for Hillary Clintonās 2008 presidential race. Bernstein has also worked as a social worker and was an economist at the Economic Policy Institute, a labor-supported think tank.