United States Department of the Treasury

The exterior of the Internal Revenue Service building in Washington.  (AP Photo/Susan Walsh, File)

IRS pushes to rein in tax-exempt political groups

WASHINGTON (AP) – The Obama administration is trying to rein in the use of tax-exempt groups for political campaigning. The effort launched Tuesday is an attempt to reduce the role of loosely regulated big-money political […]

11/27/2013

The Internal Revenue Service (IRS) building in Washington. (AP Photo/Susan Walsh)

Report finds IRS refunded $4B to identity thieves

WASHINGTON (AP) — The Internal Revenue Service issued $4 billion in fraudulent tax refunds last year to people using stolen identities, with some of the money going to addresses in Bulgaria, Lithuania and Ireland, according […]

11/07/2013

IRS

700 IRS contract workers owe $5.4M in back taxes

WASHINGTON (AP) — Nearly 700 employees of Internal Revenue Service contractors owe $5.4 million in back taxes, said a report Wednesday by the agency’s inspector general. More than half of those workers are supposed to […]

10/23/2013

Penny and Phil Sound Bite

The cause and effect of the debt ceiling

The government shutdown entered its second week with no end in sight and ominous signs that the United States was closer to the first default in the nation’s history. As you can imagine, all of […]

10/08/2013

Members of Congress walk down the steps of the House of Representatives on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite, File)

US Treasury warns of harm from debt default

WASHINGTON (AP) — The U.S. Treasury Department warned Thursday that the economy could plunge into a downturn worse than the Great Recession if Congress fails to raise the federal borrowing limit and the country defaults […]

10/03/2013

IRS logo (AP Photo)

IRS issues tax rules for married gay couples

WASHINGTON (AP) — The government on Thursday said that all legally married gay couples will be able to file joint federal tax returns even if they reside in states that do not recognize same-sex marriages. […]

08/29/2013

(AP Photo)

Montana pet owner to feds: The dog ate my money

HELENA, Mont. (AP) — A Montana man whose 12-year-old golden retriever ate five $100 bills hopes to be reimbursed by the federal government.

04/08/2013

IRS

IRS has $900M in unclaimed refunds about to expire

WASHINGTON (AP) — If you didn’t bother filing a federal tax return for 2009, it might be a good time to rethink your tax strategy. The Internal Revenue Service says it has $917 million in unclaimed tax refunds from 2009, and time is running out to claim them.

03/14/2013

(AP Photo)

No more ‘Government Motors’ as US sells GM shares

DETROIT (AP) — The U.S. government’s foray into the car business is slowly coming to an end. The Treasury Department said that it will sell its remaining stake in General Motors in the next year or so, winding down a $50 billion bailout

12/19/2012

Regulators: Financial system operating normally

WASHINGTON (AP) — Though U.S. stock trading was suspended Monday because of Hurricane Sandy, the parts of the financial system that stayed open functioned normally, the Treasury Department says. Financial regulators found that systems involving […]

10/29/2012

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