The U.S. Treasury Department on Thursday said it expects currency-market interventions, like Japan’s in September, should be reserved for exceptional circumstances, as it kept Tokyo on a list of partners Read more
Tag: Finance/Treasury Department
IRS should brace for ‘broad and deep’ scrutiny if Republicans win midterm elections. Here’s why every taxpayer should care.
Less than three months ago, a bill dedicating $80 billion for sweeping technological upgrades, staff additions and more enforcement at the Internal Revenue Service passed with no Republican votes, but Read more
Japan’s finance minister concerned about gradual weakening of yen
Japanese Finance Minister Shunichi Suzuki on Wednesday showed a broader concern about the yen’s weakness, saying the slower pace of the yen’s depreciation, not just sharp movements, isn’t desirable for Read more
U.S. Treasury sweetens the pot on I-bonds by adding a fixed rate
After record-breaking sales of I-bonds in October, the U.S. Treasury is dangling another good deal in front of savers for the next six months. Starting Nov. 2, when I-bonds will Read more
IRS has been missing out on $500 billion in taxes owed annually — and the gap between what’s owed and paid is projected to widen
There’s a difference between the amount of taxes that people and businesses owe the Internal Revenue Service and the amount they actually pay. From 2014 to 2016, that multibillion-dollar gap Read more
Janet Yellen says ‘I don’t see signs of a recession in this economy’
Even as Americans contend with high inflation and markets remain in bear territory, U.S. Treasury Secretary Janet Yellen says she doesn’t think we’re headed into a recession, pointing to low Read more
‘Help is on the way’: Need to speak to someone at the IRS about your taxes? It’s about to get a lot easier, IRS commissioner says
The Internal Revenue Service has hired 4,000 people to help pick up the phone, speak with puzzled taxpayers and assist with other customer-service issues during the upcoming tax season, the Read more
Japan govt will take action in forex market when needed, finance minister says
TOKYO–Japanese Finance Minister Shunichi Suzuki, responding to recent sharp weakness in the yen, said Monday that the government would take necessary action to prevent what he described as excessive fluctuations Read more
The IRS is stretching out penalty relief for Hurricane Ian victims who still need to file overdue 2019, 2020 tax returns
Hurricane Ian victims in Florida, North Carolina and South Carolina are still trying to get their bearings after last month’s epic wind, water and flooding caused billions of dollars in Read more
Yen briefly rallies against the dollar as Japanese authorities intervene to prop up currency after hitting 32-year low
The Japanese yen suddenly rallied against the U.S. dollar on Friday amid reports and widespread speculation that Japan’s Ministry of Finance and Bank of Japan had intervened to prop up Read more