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Treasury Department

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  • RadioShack hires ex-Treasury adviser Wilson Wednesday, 29 Oct 2014 | 12:24 PM ET

    FORT WORTH, Texas— RadioShack has hired former Treasury Department adviser Harry J. Wilson to help with its turnaround efforts. Still, the analyst said that he continues to believe that RadioShack needs more capital infusions and flexibility from lenders or it may run out of capital some time in 2015.. RadioShack warned in September that it might need to file for...

  • Health overhaul's subsidies at Supreme Court Wednesday, 29 Oct 2014 | 12:12 PM ET

    WASHINGTON— Supreme Court justices have their first chance this week to decide whether they have the appetite for another major fight over President Barack Obama's health care law. The challengers are appealing a unanimous ruling of a three-judge panel of the federal appeals court in Richmond, Virginia, that upheld Internal Revenue Service regulations...

  • Oct 29- More than 40 million Americans earn money while driving around in their cars, making them eligible for a valuable business mileage deduction from the Internal Revenue Service. "Getting a lot of round numbers means people either aren't tracking or are rounding," says P.J. Wallin, 33, a certified public account from Richmond, Virginia. Bill Nemeth, an enrolled...

  • Rates on US Treasury bills mixed at weekly auction Monday, 27 Oct 2014 | 5:38 PM ET

    WASHINGTON— Interest rates on short-term Treasury bills were mixed in Monday's auction with six-month bills rising to their highest level in more than three months. The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.020 percent, unchanged from last week. For a $10,000 bill, the three-month price was $9,999.49, while a...

  • Oct 15- Another proposed U.S. corporate tax "inversion" deal collapsed on Friday when Irish food group Fyffes Plc and larger U.S. rival Chiquita Brands International Inc called off an agreement to combine. It was the fourth such deal to unravel since the Treasury Department on Sept. 22 cracked down on inversions, deals in which a U.S. company acquires or sets up a...

  • WASHINGTON, Oct 24- The U.S. Treasury Department said on Friday it was tweaking its policy for retirement funds to encourage savers to buy annuities, a measure aimed to keep them from outliving their savings. The department and the Internal Revenue Service will let retirement funds offer long-term deferred annuities as a default investment in 401 retirement...

  • Rates rise at weekly US Treasury auction Monday, 20 Oct 2014 | 5:31 PM ET

    WASHINGTON— Interest rates on short-term Treasury bills rose in Monday's auction with rates on six-month bills reaching their highest level since July. The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.020 percent, up from 0.010 percent last week. For a $10,000 bill, the three-month price was $9,999.49, while a...

  • WASHINGTON, Oct 15- The United States on Wednesday renewed a warning that Europe risks falling into a downward spiral of falling wages and prices, saying recent actions by the European Central Bank may not be enough to ward off deflation. In a semiannual report to Congress, the U.S. Treasury Department also said Berlin could do more to help Europe, namely by...

  • WASHINGTON, Oct 15- The United States on Wednesday renewed a warning that Europe risks falling into a downward spiral of falling wages and prices, saying recent actions by the European Central Bank may not be enough to ward off deflation. In a semiannual report to Congress, the U.S. Treasury Department said Berlin could do more to help Europe, namely by boosting the...

  • UPDATE 1-U.S. budget deficit lowest since 2008 - Treasury Wednesday, 15 Oct 2014 | 12:47 PM ET

    WASHINGTON, Oct 15- The U.S. budget deficit fell by nearly a third to $483 billion in fiscal 2014, the lowest level since 2008, as a quickening economic recovery boosted tax collections and spending grew only modestly, the Treasury Department said. The deficit, down from $680 billion last year, was the lowest since a $459 billion budget gap in fiscal 2008, which was...

  • U.S. budget deficit shrinks to $483 bln - Treasury Wednesday, 15 Oct 2014 | 11:00 AM ET

    WASHINGTON, Oct 15- The U.S. budget deficit fell by nearly a third to $483 billion in fiscal 2014, the lowest level since 2008, as U.S. economic growth boosted tax collections, the Treasury Department said on Wednesday. The deficit, down from $680 billion last year, was the lowest since a $459 billion budget gap in fiscal 2008, which was followed by four straight...

  • SAN JUAN, Puerto Rico, Oct 10- A Puerto Rico judge ruled in favor of Doral late on Friday in its $229 million tax dispute with the Puerto Rico Treasury Department, which said it would appeal. Last May, the Treasury Department voided a 2012 agreement that set a $229 million tax refund for Doral resulting from a restatement of inflated earnings during a six-year period...

  • WASHINGTON, Oct 7- Severe delays and inconvenience for millions of taxpayers could result in 2015 if the U.S. Congress fails to deal soon with a list of temporary tax laws that expired at the end of 2013, the Internal Revenue Service and a key senator warned on Tuesday. Known as the "extenders," the more than 50 expired tax laws are in limbo, waiting for Congress to...

  • Q+A-Tax Inversions 101: A pocket guide Wednesday, 24 Sep 2014 | 11:04 AM ET

    NEW YORK, Sept 23- The Treasury department this week announced a new set of regulations to crack down on the wave of "corporate inversions," in which American companies lower their tax bill by, simply put, relocating their legal corporate addresses overseas.

  • Tax inversion crackdown     Tuesday, 23 Sep 2014 | 7:51 AM ET

    Jared Bernstein, Budget & Policy Priorities, shares his thoughts on the Obama administrations efforts to implement new regulations that would diminish the ability for companies to escape U.S. taxes.

  • Lew tackles tax inversions     Tuesday, 23 Sep 2014 | 7:03 AM ET

    CNBC's Eamon Javers reports the Treasury Department is trying to make tax inversions less economically appealing to corporations but they will not be able to eliminate them all.

  • Treasury moves to combat tax inversions     Tuesday, 23 Sep 2014 | 6:08 AM ET

    The Treasury Department is seeking to reduce the benefits of companies buying foreign firms to switch tax domicile to a country with lower rates, reports CNBC's Eamon Javers.

  • OBAMA SAYS TREASURY SECRETARY LEW BRIEFED HIM ON MONDAY ON FIRST STEPS TREASURY DEPARTMENT WILL TAKE TO DISCOURAGE CORPORATE TAX INVERSIONS.

  • WASHINGTON, Sept 19- Oil major Exxon Mobil said on Friday the U.S. Treasury Department had granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic that has been targeted by U.S. sanctions. Washington intensified sanctions on Russia last week over its intervention in Ukraine.

  • WASHINGTON, Sept 19- U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic that has been targeted by U.S. sanctions. Washington intensified sanctions on Russia last week to punish Moscow for its intervention in Ukraine.