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The Latest Breaking News from the Treasury Department

Here are the jobs that won’t have to pay tax on tips – did yours make the list?

The temporary policy will allow certain tipped workers to claim deductions up to $25,000 per year on their taxes

The Independent UK

No Tax on Tips! Full List of Jobs That Qualify Under Trump's 'Big Beautiful Bill' — Is Yours on It?

The Treasury Dept. is preparing a list of jobs that qualify for President Trump's 'no tax on tips' policy. The bill, passed earlier this year, applies to a limited number of professions and has a deductible of $25,000.

International Business Times UK

The Treasury Department wants US banks to monitor for suspected Chinese money laundering networks

The Treasury Department wants U.S. financial institutions to monitor for suspected Chinese money laundering networks handling funds that are used to fuel the flood of fentanyl across American communities

The Independent UK

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First Solar (FSLR) Stock Surges On New Treasury Tax Credit Rules

Shares of First Solar Inc (NASDAQ:FSLR) are trading higher Monday afternoon and have posted gains over the past week, following new guidance from the Treasury Department and IRS concerning tax credits for clean energy projects. Here’s what investors need to know.

Benzinga

Cynthia Lummis Backs Scott Bessent's 'Commitment' To Build Bitcoin Reserve Without Burdening US Taxpayers — 'I Have A Bill For That'

Sen. Cynthia Lummis (R-Wyo.) on Thursday backed a “budget-neutral approach” to building a Strategic Bitcoin (CRYPTO: BTC) Reserve, opposing the idea of purchasing additional BTC to address the mounting national debt.

Benzinga

The national debt has reached a record $37 trillion, the Treasury Department reports

Donald Trump’s ‘Big, Beautiful Bill’ set to ramp up government borrowing even further

The Independent UK

US National Debt Hits Historic $37 Trillion, Surpassing Pre-Pandemic Projections—'Piling Up At A Rapid Rate,' Warn Economists

The U.S. national debt has reached an all-time high of $37 trillion, as reported by the Treasury Department. This staggering figure highlights the growing debt burden on the American economy and its taxpayers.

Benzinga

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Long removed as IRS commissioner two months after confirmation - Roll Call

Former GOP Rep. Billy Long has been removed as IRS commissioner by President Trump, a White House official said Friday.

Roll Call

US sanctions Mexico cartel members, including rapper El Makabelico

Treasury aims to disrupt Cartel del Noreste’s leadership and financial networks tied to violence and drug trafficking.

Al Jazeera

Top Democrat demands Trump’s IRS investigate Epstein bank records in sprawling probe: ‘Follow the money’

Ron Wyden’s sprawling bank probe demands Trump administration investigate financial transactions surrounding Epstein’s trafficking case

The Independent UK

Mexican Banks Are Purging Their Client Lists To Avoid Cartel-Related U.S. Sanctions

Mexican banks are reportedly strengthening their anti-money laundering mechanisms to avoid U.S. sanctions

Latin Times

Social Security Garnishment Rules: What Retirees Need to Know

Do you know who can garnish your monthly Social Security benefit? Or take the funds from your bank account? Learn how to protect your benefits from creditors.

Kiplinger

U.S. Grants Temporary Reprieve To Mexican Financial Firms Accused Of Helping Launder Cartel Money

The U.S. is granting a temporary reprieve to three Mexican financial firms recently sanctioned for their alleged role in helping launder cartel money after seeing progress by the Claudia Sheinbaum administration to address the matter

Latin Times

7 Inheritance Clauses That Now Trigger Federal Review

Estate planning has grown more complex. Now, federal agencies pay closer attention to wealth transfers. Certain clauses in a will or trust can raise red flags. This may prompt scrutiny from the IRS or the Treasury Department. The government aims to prevent tax evasion and other illegal transfers. Let’s look…

Budget and the Bees

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Fortune

This summer will be decisive for the economy and Wall Street

More fiscal sticker shock could send Treasury yields higher and add more pressure on the dollar, which is already down 10% this year, its worst first-half performance in more than 50 years.

Latin Times

Mexican President Sheinbaum Says There Is 'Simply No Proof' That Local Banks Laundered Money For Cartels

Mexican President Claudia Sheinbaum rejected U.S. sanctions against three Mexican banks over money laundering accusations

Latin Times

U.S. Sanctions Mexican Banks Over Alleged Role in Laundering Cartel Funds, Buying Fentanyl Chemicals

The U.S. Treasury Department has sanctioned three Mexican financial institutions, alleging they were used by drug cartels to launder millions of dollars.

Latin Times

U.S. Targets 10 Front Companies Used by 'Los Chapitos' to Launder Fentanyl Proceeds

U.S. officials say a real estate firm, a spa, and a clothing rental service are among the front companies used by Los Chapitos to launder proceeds from their fentanyl trafficking operations

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Latin Times

U.S. Hits El Chapo's Fugitives Sons with Sanctions, $10M Bounties Over Fentanyl Trafficking

Iván Archivaldo Guzmán Salazar and his brother, Jesús Alfredo Guzmán Salazar, are believed to be the current leaders of the Los Chapitos faction within the Sinaloa Cartel. The Treasury Department increased the bounties for their capture and deepened the sanctions against them.

Roll Call

Senate Banking would zero out CFPB funding in reconciliation - Roll Call

Other reconciliation provisions for Banking panel would pare spending at the Fed, Treasury, HUD and at the Securities and Exchange Commission.

Al Jazeera

US lifts first sanctions on Syria following Trump’s surprise announcement

The president announced the sanctions relief in May, ahead of an unannounced visit with Syrian leader Ahmed al-Sharaa.

The Independent UK

Goodbye to the Penny! Treasury Department announces plan to phase out the coin

The U.S. mint made its final order of penny blanks, the Treasury Department said Thursday.

The Independent UK

Al-Qaeda and Hezbollah leaders among terrorists who pay Elon Musk for X subscriptions, study finds

Tech Transparency Project finds several terrorists and others under sanctions have premium blue checkmark accounts on X

Roll Call

McKernan, in limbo as CFPB nominee, to get a shot at Treasury - Roll Call

Jonathan McKernan, awaiting a Senate vote on his nomination to lead the CFPB, will get tapped for another job at the Treasury Department.

Kiplinger

Is It Still Worth It to Gift Savings Bonds?

Kiplinger editor explores if it's still a good idea to get savings bonds as gifts for children, looking at their returns and usability.

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Joaquin “El Chapo” Guzman

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