Tag: department_of_the_treasury
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Bessent Says US Wants to 'De-Risk, Not Decouple' From China Ahead of Shenzhen Summit
The Treasury Secretary outlined new trade and investment boards and a superintelligence dialogue, and said he will join President Trump in Shenzhen next week for a meeting with President Xi Jinping.
Politics and GovernmentBusinessScience & TechnologyTradeEconomyArtificial IntelligenceFederal GovernmentAsiaUSAChina Scott BessentU.S.-China relationsDepartment of the TreasuryDonald TrumpXi Jinpingtrade policyUS TreasuryU.S. Department of the TreasuryNational Committee on U.S.-China RelationsNew YorkGala Dinner
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Treasury and IRS Overhaul Retirement Plan Correction Rules and Create New IRA Program
The expanded employee plans correction procedure takes effect immediately, while the new IRA Compliance Resolution System begins May 1, 2027.
Politics and GovernmentBusinessFederal GovernmentEconomyLegalBanking Internal Revenue ServiceDepartment of the TreasuryIndividual Retirement AccountsEmployee Plans Compliance Resolution SystemIRA Compliance Resolution SystemSECURE 2.0 ActRetirement Planning
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IRS Grants Temporary Relief on Reporting for Taxable Dyed Diesel Uses
The relief covers dyed diesel used between Oct. 1 and Dec. 31, 2026, and applies even where filing deadlines fall after the period ends.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyEnergyLegalUSA Internal Revenue Servicedyed dieselsection 4041(a)Form 720excise taxrecordkeeping reliefDepartment of the Treasurytax reporting relief
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Social Security Now Mails Trump Account Info to Parents of Newborns
SSA is adding Trump Account instructions to Social Security cards issued to newborns through Enumeration at Birth, pointing parents to the app to claim a possible $1,000 Treasury contribution.
Politics and GovernmentBusinessFederal GovernmentEconomyBankingSocial Issues Social Security AdministrationTrump AccountsEnumeration at BirthFrank J. BisignanoDepartment of the Treasurynewbornstax-advantaged investment accounts
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Social Security to Fully Transition to Electronic Payments
The Social Security Administration is transitioning all federal benefit payments to electronic methods by September 30, 2025. This move, mandated by federal law, aims to boost efficiency, cut costs, and enhance security for beneficiaries.
Politics and GovernmentBusinessScience & TechnologyFederal GovernmentEconomyComputers and InternetLegal Social Security Administrationelectronic paymentsfederal benefitsDepartment of the TreasuryExecutive Order 14247GovernmentFinance