Topic: U.S. Department of the Treasury

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Briefing Liberty Reserve money-laundering case: five questions answered

The case against Liberty Reserve, a digital currency provider, may be the largest money-laundering case in US history. Here's what you need to know.

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Senate back at student loans as pressure and rates mount, but deal elusive

A key student loan rate doubled last week after Congress refused to act, but the majority Democrats in the Senate are split and the party leadership is looking for a short-term fix.
Gold prices fall as dollar strengthens

Gold fell 1 percent Monday morning, hurt by a stronger dollar and worries over the US Federal Reserve possibly tapering its stimulus program. The decline follows a 7 percent drop for gold last week.
Another credit-rating downgrade for US? Less than 1 in 3 risk, says S&P. (+video)

Federal deficits are falling faster than expected, leading S&P to upgrade its economic outlook for the US. That's good news for the country's credit rating.
Briefing Liberty Reserve money-laundering case: five questions answered

The case against Liberty Reserve, a digital currency provider, may be the largest money-laundering case in US history. Here's what you need to know.
Hearing on IRS: What ousted chief offers, Republicans don't buy

Steven Miller, who resigned as acting IRS head this week, argued that the extra scrutiny for conservative groups amounted to ‘foolish mistakes.’ House Republicans see some problems reaching the White House.
Stash your cash in Switzerland? US and Europe push to make it harder.

A Spanish court ruling and investigations spurred by whistleblowers are aimed at scaring tax evaders and raising revenue. One watchdog's list could lead to some 300 billion euros in tax havens.
Iran nuclear talks in Istanbul show progress remains elusive

Talks in Istanbul today over Iran's nuclear program and sanctions that have crippled its economy yielded little in the way of progress.
Tax VOX IRS and the Tea Party: A small but bungling scandal

The IRS Tea Party scandal is a huge embarrassment for the IRS and likely to make it more difficult for the agency to police groups that have stepped over the political line, Gleckman writes. But based on what we know so far, the IRS Tea Party debacle is no Watergate scandal.
IRS report shows why tea party scandal was almost inevitable (+video)

When all the shouting about the IRS targeting of tea party groups dies down, Congress or the IRS will realize that the relevant tax law is devilishly hard to enforce fairly.
The New Economy Bloomberg snooping: Just looking at data can break the law

The Federal Reserve and the US Treasury are investigating whether Bloomberg reporters used the company's terminals to glean inappropriate information about officials' data use. Just viewing the information can be a felony, under federal law.
IRS tea party scandal is 'un-American' and a 'travesty,' lawmakers fume

Lawmakers on both sides of the aisle are vowing to hold people accountable and explore legislative changes to ensure the IRS mends its ways after singling out tea party and other conservative groups.
House prioritizes bills to pay if US hits debt ceiling. Is default averted?

The bill would allow the federal government to pay interest on the nation’s debts, even if the US does not raise the debt ceiling. But some say the effect would be different from what is envisioned.
Stocks soar. Dow has first close above 15,000.

Stocks rose on Wall Street Tuesday with the Dow Jones industrial average closing above 15,000 for the first time. Higher quarterly profits for companies including satellite TV provider DirecTV and watchmaker Fossil pushed stocks upward. The Dow Jones is up 15 percent this year.
Focus Big Three automakers, reinvented, eye consumers worldwide

GM, Ford, and Chrysler have reinvented themselves in the years since the Great Recession almost spelled the demise of two of the Big Three automakers. Their 'transformative' evolution puts them in a position to compete globally.
Fortune 500: Top 10 companies in 2013

Fortune has released its annual list of the largest corporations in the United States, and there were a few notable changes in this year’s group. Here are the Top 10.
Cover Story Dow at 15,000: What the stock market is telling us

As Wall Street posts a new record, experts decode its message about the state of the economy – and whether it's too late to invest.
Tax VOX Tax reform: how to fix the international tax mess

Corporate tax reform is impossible without addressing international issues, Gleckman writes. Yet, this corner of the tax law is not only immensely complex but most proposed solutions inevitably run into massive political and policy roadblocks.
Canada alleges Al Qaeda plot from Iran, but Tehran's involvement unlikely (+video)

Shiite Iran and Sunni Al Qaeda have long had a hostile relationship. While state involvement appears unlikely, Tehran has less control over the country's far east.
Al Qaeda in Canada? Two men arrested, charged with terrorism.

Two men were charged with plotting a terrorist attack against a Canadian passenger train with support from Al Qaeda elements in Iran, police said Monday. The men are not Canadian citizens, but they had been in Canada a "significant amount of time," said police.
Opinion Talks with North Korea? Better to apply financial pressure (+video)

South Korea and the US must be skeptical about future talks, not least because North Korea has no incentive to change. However, the North is vulnerable to financial pressure, as seen when the US once sanctioned an Asian bank that handled North Korean money.
Carnival to repay costs of rescue: What's the tab?

Carnival plans to repay the U.S. government for responding to the disabled Carnival 'Triumph' and 'Splendor' cruise ships, which left thousands of passengers stranded for days.
Can US-Russia relations get back on track after human rights blacklists?

President Obama and Russian President Vladimir Putin are hinting at hopes of getting past disputes over human rights to issues of mutual interest to the two powers, like missile defense.
USA Update Obama, like everyone, must face the tax man. Here are his numbers.

President Obama is wealthy, but his income has been dropping in recent years, mainly due to a decline in book revenues. In releasing his 2012 return, the White House again pushed for tax reform.
Tax VOX Should the US adopt a territorial tax system?

Backers of a territorial tax system argue that the current worldwide system puts US firms at a competitive disadvantage since they must pay the high US tax rate on repatriated profits earned by their affiliates in low-tax countries, while multinationals based in territorial countries pay only the local tax rate on these profits, Toder writes.
U.S. readies for 'real and clear danger' from North Korea

North Korea has threatened the United States with a nuclear attack. In response, Washington has made plans to send a missile defense system to Guam, officials said Wednesday.