Treasury Department Archives - CFO

U.S. Cracks Down on Chinese Tech Firms

U.S. Cracks Down on Chinese Tech Firms

The Treasury Department added eight companies to an investment blacklist for supporting Beijing’s repression of the Uyghur minority.

By Matthew Heller | December 17, 2021

U.S. Slaps Crypto Exchange With Sanctions

U.S. Slaps Crypto Exchange With Sanctions

In an unprecedented enforcement action, the Treasury Department says Suex OTC facilitated the laundering of illicit proceeds from ransomware attacks.

By Matthew Heller | September 21, 2021

U.S. Budget Gap Jumps to $660B in March

U.S. Budget Gap Jumps to $660B in March

Spending on coronavirus relief has "sent the federal debt soaring to levels not seen since the end of World War II as a proportion of the economy."

By Matthew Heller | April 13, 2021

Hack of U.S. Agencies Tied to Software Updates

Hack of U.S. Agencies Tied to Software Updates

The hackers appear to have used a "supply-chain attack" to breach the computer systems of federal agencies including the Treasury and Commerce departments.

By Matthew Heller | December 15, 2020

Biden to Name Ex-Fed Chair Yellen to Lead Treasury

Biden to Name Ex-Fed Chair Yellen to Lead Treasury

"Janet Yellen is brilliant ... and seems to be popular in all factions, from the financial markets to Main Street."

By Matthew Heller | November 24, 2020

U.S. Budget Deficit Widens to $984B in 2019

U.S. Budget Deficit Widens to $984B in 2019

“The current levels of debt are unprecedented in peacetime during a growing economy, and the consequences of this irresponsible spending are unknown."

By Matthew Heller | October 25, 2019

Housing Finance Reform Disappoints Investors

Housing Finance Reform Disappoints Investors

A Treasury Department plan would recapitalize Fannie Mae and Freddie Mac and return them to private control.

By Matthew Heller | September 9, 2019

U.S. Budget Deficit Increases 23% in Nine Months

U.S. Budget Deficit Increases 23% in Nine Months

The budget gap could top $1 trillion for the full fiscal year.

By Lauren Muskett | July 12, 2019

U.S. Budget Gap Rises to $205B in November

U.S. Budget Gap Rises to $205B in November

“The budget picture is deteriorating as the U.S. taxes individuals and companies less and spends more, mostly on defense and benefit payments."

By Matthew Heller | December 13, 2018

U.S. Budget Deficit Swells to $779B in FY 2018

U.S. Budget Deficit Swells to $779B in FY 2018

The White House blames increased spending for the mounting deficit but its own data "suggest falling revenues were a far larger contributor."

By Matthew Heller | October 16, 2018

U.S. Budget Deficit Widens to $77B in July

U.S. Budget Deficit Widens to $77B in July

Increased government spending and tax cuts are “keeping the country on track to record its biggest annual deficit in six years."

By Matthew Heller | August 13, 2018

U.S. Budget Deficit Widens to $208B in March

U.S. Budget Deficit Widens to $208B in March

The U.S. government's rising debt "would have serious negative consequences for the budget and the nation," the CBO warned this week.

By Matthew Heller | April 12, 2018

AICPA Seeks Clarity on Meals, Other Expenses

AICPA Seeks Clarity on Meals, Other Expenses

The association asks the government for "immediate guidance" on whether business meals continue to be deductible under the new tax law.

By Matthew Heller | April 4, 2018

Does the Earnings Stripping Regulation Remove Too Much?

Risk & Compliance

Does the Earnings Stripping Regulation Remove Too Much?

Questions will arise over whether an intercompany transaction will be treated by the IRS as debt or as stock.

By Therese Tucker | August 10, 2016

Treasury Chief Lauds Dodd-Frank

Risk & Compliance

Treasury Chief Lauds Dodd-Frank

U.S. Treasury Secretary Jacob Lew says Dodd-Frank Act helped the nation weather Brexit and other shocks to the system.

By David Katz | July 21, 2016