FATIMA HUSSEIN

FILE - The Treasury Building is viewed in Washington, May 4, 2021. The U.S. on Tuesday imposed sanctions on a group of Mexican accountants and firms allegedly linked to a timeshare fraud ring run by the Jalisco New Generation drug cartel. Three accountants were hit with sanctions, along with four Mexican real estate and accounting firms. In addition, Treasury and the FBI issued a notice to banks with a reminder to be vigilant in detecting and reporting timeshare fraud perpetrated by Mexico-based transnational criminal organizations. (AP Photo/Patrick Semansky, File)

US proposes rules to stop Americans from investing in Chinese technology with military uses

The Treasury Department has fleshed out its proposed rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing.

FILE - In this Jan. 3, 2013 photo, a "Pension Promise" sign is seen at the Illinois State Capitol in Springfield Ill., Jan. 3, 2013. Democrats are putting a spotlight on more than than 1 million union workers and retirees whose pensions are being saved under a law enacted in the summer of 2021. The Butch Lewis Act will ultimately stop cuts to the retirement benefits of 2 million workers and retirees across the country. The law was part of the American Rescue Plan passed by Congress along party lines to ultimately stall the insolvency of roughly 200 multi-employer pension plans for 30 years. (AP Photo/Seth Perlman, File)

Democrats put a spotlight on more than 1 million pensions saved under a 2021 law

Democrats are putting a spotlight on more than 1 million union workers and retirees whose pensions are being saved under a 2021 law.

Treasury Secretary Janet Yellen, center, talks with demonstrators after a Senate Appropriations Subcommittee on Financial Services and General Government hearing, Tuesday, June 4, 2024, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)

In Atlanta to promote fentanyl actions, Yellen announces sanctions against Mexican cartel

U.S., Treasury Secretary Janet Yellen has announced new sanctions against members of La Nueva Familia Michoacana drug cartel, a notoriously violent group that wars for territorial control with a slate of other Mexican cartels.

FILE - A sign for the Internal Revenue Service building in Washington, May 4, 2021. The IRS plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade, the U.S Treasury says.(AP Photo/Patrick Semansky, File)

The IRS wants to end another major tax loophole for the wealthy and raise $50 billion in the process

The Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade. That’s according to the U.S. Treasury.

Treasury Secretary Janet Yellen speaks to the Economic Club of New York luncheon, in New York, Thursday, June 13, 2024. Yellen said the U.S. ought to respond "when foreign subsidies threaten the viability of domestic firms" in strategic sectors like green energy. (AP Photo/Richard Drew)

Yellen says China’s trade policies could ‘interfere significantly’ with US bilateral relationship

Treasury Secretary Janet Yellen says Chinese “overconcentrated supply chains” pose a threat to U.S. jobs and recent investments meant to build up the U.S. green energy sector. Yellen spokes Thursday at the Economic Club of New York.

Ukraine's President Volodymyr Zelenskyy talks to journalists during a news conference after signing a bilateral security agreement with U.S. President Joe Biden during the sidelines of the G7 summit at Savelletri, Italy, Thursday, June 13, 2024. (AP Photo/Andrew Medichini)

G7 leaders agree to lend Ukraine billions backed by Russia’s frozen assets. Here’s how it will work

The leaders of the Group of Seven wealthy democracies have agreed to set in motion a $50 billion loan to help Ukraine. Interest earned on profits from Russia’s frozen central bank assets would be used as collateral.

FILE- This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. Brent Neiman, deputy undersecretary for international finance at the U.S. Treasury, said in a speech on Tuesday that Ukraine's wartime economy has proven resilient in the face of Russia's invasion and said U.S. and allies' budget assistance is designed to help the nation combat corruption and increase transparency. (AP Photo/Patrick Semansky, File)

Treasury official says budget assistance designed to help Ukraine anti-corruption efforts

Just back from a visit to Ukraine, a U.S. Treasury official is describing a country whose wartime economy has proven resilient in the face of Russia’s invasion, and he says U.S. and allied budget assistance is designed to help Ukraine combat corruption and increase transparency.

President Joe Biden waves as he arrives on Air Force One at Westchester County Airport in White Plains, N.Y., Monday, June 3, 2024. (AP Photo/Alex Brandon)

Biden lays into Trump over convictions and says he now poses a greater threat than in 2016

President Joe Biden has laid into his likely opponent in November’s election, Donald Trump, for being convicted by a Manhattan jury on 34 felony counts related to hush money payments. Biden says “this campaign has entered uncharted territory.”

FILE - A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. The government is making permanent its new free electronic tax return filing system and expanding to taxpayers in all 50 states. (AP Photo/Patrick Semansky, File)

IRS makes free tax return program permanent and is asking all states to join in 2025

The IRS will make permanent the free electronic tax return filing system that it experimented with this year. The agency is asking all 50 states and the District of Columbia to help taxpayers file their returns through the program in 2025.

United States Deputy Treasury Secretary Wally Adeyemo walks in the city center during an official visit to Kyiv, Ukraine, on Wednesday, May 29, 2024. (AP Photo/Evgeniy Maloletka)

US Treasury official visits Ukraine to discuss sanctions on Moscow and seizing Russian assets

A senior U.S. Treasury official has meet with Ukrainian officials in Kyiv to discuss U.S. financial support, enforcing sanctions on Russia and using frozen Russian assets for Ukraine’s benefit in the war with Moscow.

FILE- This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. Brent Neiman, deputy undersecretary for international finance at the U.S. Treasury, said in a speech on Tuesday that Ukraine's wartime economy has proven resilient in the face of Russia's invasion and said U.S. and allies' budget assistance is designed to help the nation combat corruption and increase transparency. (AP Photo/Patrick Semansky, File)

US opens up banking to private Cuban businesses as it aims to boost private sector

The U.S. is lifting some financial restrictions on Cuba in a move designed to boost private businesses on the island.

President Joe Biden and first lady Jill Biden welcome Kenya's President William Ruto and first lady Rachel Ruto to the White House in Washington for a State Dinner, Thursday, May 23, 2024. (AP Photo/Susan Walsh)

White House fetes Kenya with state dinner featuring sunset views, celebrity star power

Thursday’s White House state dinner honoring Kenyan President William Ruto offered hundreds of guests some stunning D.C. views, a knockout menu and a healthy dose of celebrity star power.

FILE - Treasure Secretary Janet Yellen speaks during an American Partnership for Economic Prosperity meeting with finance ministers at the Treasury Department, on April 19, 2024, in Washington. What to do with the Russian central bank reserves frozen in response to the invasion of Ukraine is at the top of the agenda as finance officials from the Group of Seven rich democracies meet Thursday through Saturday in Stresa, Italy, on the shores of scenic Lago Maggiore. “Securing Ukraine’s position in the medium-to-long term requires unlocking the value of immobilized Russian sovereign assets,” U.S. Treasury Secretary Janet Yellen said. (AP Photo/Jacquelyn Martin, File)

With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets

Ukraine’s allies are looking for ways to squeeze money out of frozen Russian assets and use it to help Kyiv fend off Moscow’s invasion.

FILE - An attendee waves a hat ahead of a campaign rally for Republican presidential candidate former President Donald Trump in Wildwood, N.J., on May 11, 2024. Trump's presidential campaign will begin accepting donations in cryptocurrency, the presumptive Republican presidential nominee's campaign says. (AP Photo/Matt Rourke)

Donald Trump’s campaign says it will begin accepting contributions through cryptocurrency

Donald Trump’s presidential campaign will begin accepting donations in cryptocurrency, the presumptive Republican presidential nominee’s campaign says.

President Joe Biden sits down to sign a document in the Rose Garden of the White House in Washington, Tuesday, May 14, 2024, imposing major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. (AP Photo/Susan Walsh)

Biden hikes tariffs on Chinese EVs, solar cells, steel, aluminum — and snipes at Trump

President Joe Biden says in defending his new tariffs on Chinese products that China’s government subsidies ensure its companies don’t have to turn a profit, giving them an unfair advantage in global trade.

FILE - The entrance to F.E. Warren Air Force Base is pictured May 24, 2018, in Cheyenne, Wyo. President Joe Biden on Monday, May 13, 2024, issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near the Wyoming nuclear missile base. The order forces the divestment of property operated as a crypto mining facility near the base. (AP Photo/Mead Gruver, File)

Biden blocks Chinese-backed crypto mining firm from land ownership near Wyoming missile base

President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a “national security risk.”

FILE - A worker checks solar panels at a factory in Jiujiang in central China's Jiangxi province on March 16, 2018. The Biden administration is planning to announce new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. (Chinatopix via AP)

US plans to impose major new tariffs on EVs, other Chinese green energy imports, AP sources say

The Biden administration is planning to announce new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. That’s according to a U.S. official and another person familiar with the plan.

Liam and Olivia are still the most popular US baby names, and Mateo makes his debut on the list

Liam and Olivia have for the fifth year topped the list of top baby names for brand new boys and girls in the U.S., according to the Social Security Administration. And Mateo joins the top 10 baby names list for the first time.

Treasury Secretary Janet Yellen testifies during a House Ways and Means Committee hearing, Tuesday, April 30, 2024, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)

Yellen says threats to democracy risk US economic growth, an indirect jab at Trump

Treasury Secretary Janet Yellen argues that a fractured democracy can have destructive effects on the economy.

FILE - IRS Commissioner Daniel Werfel prepares to testify before a hearing, April 27, 2023, in Washington. The IRS said Thursday, May 2, 2024, it's taken steps to address a wide disparity in audit rates between Black taxpayers and others filers. And the agency is more closely examining the returns of larger numbers of wealthy people and major companies. The discriminatory audits, Werfel told reporters, “degrade trust in our tax system.” (AP Photo/Kevin Wolf, File)

IRS acts to address wide disparity in audit rates between Black taxpayers and other filers

The IRS says it’s taken steps to address a wide disparity in audit rates between Black taxpayers and others filers. And the agency is more closely examining the returns of larger numbers of wealthy people and major companies.

FILE- This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. Brent Neiman, deputy undersecretary for international finance at the U.S. Treasury, said in a speech on Tuesday that Ukraine's wartime economy has proven resilient in the face of Russia's invasion and said U.S. and allies' budget assistance is designed to help the nation combat corruption and increase transparency. (AP Photo/Patrick Semansky, File)

New US sanctions against Russia target weapons development, ban uranium imports for nuclear power

The United States has imposed new sanctions on hundreds of companies and people tied to Russia’s weapons development program, as well as more than a dozen Chinese entities accused of helping Moscow find workarounds to earlier penalties.

FILE - The Internal Revenue Service 1040 tax form for 2022 is seen on April 17, 2023. The IRS said Friday, April 26, 2024, more than 140,000 taxpayers filed their taxes through its new direct file pilot program. It says the program's users claimed more than $90 million in refunds, saving roughly $5.6 million in fees they would have spent with commercial tax preparation companies. (AP Photo/Jon Elswick, File)

140,000 people did their taxes with the free IRS direct file pilot. But program’s future is unclear

The IRS says more than 140,000 taxpayers filed their taxes through its new direct file pilot program.

President Joe Biden speaks before signing a $95 billion Ukraine aid package that also includes support for Israel, Taiwan, and other allies, in the State Dining Room of the White House, Wednesday, April 24, 2024, in Washington. (AP Photo/Evan Vucci)

The US is now allowed to seize Russian state assets. How would that work?

The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv.

FILE A couple watches the sun set from a park, July 10, 2021, in Kansas City, Mo. A quarter of U.S. adults over the age of 50 have no retirement savings, according to a new AARP survey — and 70% of people surveyed are worried about prices rising faster than their income. New research from the AARP released Wednesday reveals how a graying America is worrying more and more about how to make ends meet, even as economists and policymakers say the U.S. economy has all but achieved a soft landing after a period of record high inflation. (AP Photo/Charlie Riedel, File)

About 1 in 4 US adults 50 and older who aren’t yet retired expect to never retire, AARP study finds

About one-quarter of U.S. adults age 50 and older who aren’t yet retired say they expect to never retire and 70% are concerned about prices rising faster than their income. That according to findings in an AARP survey that was released Wednesday.

U.S. Treasury Secretary Janet Yellen speaks during the AmCham China Fireside Chat held at the Baiyun International Conference Center (BICC) in southern China's Guangdong province, Friday, April 5, 2024.(AP Photo/Andy Wong, Pool)

Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations

A Bangkok-based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 violations of Iran sanctions. The U.S. Treasury announced the settlement on Friday.

FILE - The U.S. Treasury Department building, June 6, 2019, in Washington. The Biden administration on Friday imposed sanctions on two entities accused of fundraising for extremist Israeli-occupied West Bank settlers who have harassed and attacked Palestinians, as well as the founder of an organization whose members regularly assault Palestinians. The Treasury Department announcement comes as the West Bank has seen some of its worst violence perpetrated by extremist settlers against Palestinians since the war in nearby Gaza began. (AP Photo/Patrick Semansky, File)

US sanctions fundraisers for extremist West Bank settlers who commit violence against Palestinians

The Biden administration is imposing sanctions on two entities accused of fundraising for extremist Israeli-occupied West Bank settlers who have harassed and attacked Palestinians.

World Bank President Ajay Banga poses for a portrait after an interview with The Associated Press, Tuesday, April 16, 2024, at the World Bank in Washington. (AP Photo/Jacquelyn Martin)

World Bank’s Banga wants to make gains in tackling the effects of climate change, poverty and war

It’s a full agenda for Ajay Banga as he nears the end of his first year as World Bank president. The bank and the International Monetary Fund are holding their spring meetings in Washington this week, and Banga is highlighting new initiatives to expand access to health care and electricity across th

FILE - The U.S. Treasury Department building, June 6, 2019, in Washington. The Biden administration on Friday imposed sanctions on two entities accused of fundraising for extremist Israeli-occupied West Bank settlers who have harassed and attacked Palestinians, as well as the founder of an organization whose members regularly assault Palestinians. The Treasury Department announcement comes as the West Bank has seen some of its worst violence perpetrated by extremist settlers against Palestinians since the war in nearby Gaza began. (AP Photo/Patrick Semansky, File)

US and UK issue new sanctions on Iran in response to Tehran’s weekend attack on Israel

The U.S. and U.K. have imposed a new round of sanctions on Iran as concern grows that Tehran’s unprecedented attack on Israel could fuel a wider war in the Middle East.

U.S. Treasury Secretary Janet Yellen attends a press conference in Beijing, China, Monday, April 8, 2024. Ever since she ate mushrooms that can have psychedelic effects in Beijing last July, Americans and Chinese have been united in their interest in what Janet Yellen will eat next. (AP Photo/Tatan Syuflana)

Yellen says Iran’s actions could cause global economic spillovers as White House vows new sanctions

Treasury Secretary Janet Yellen is warning of potential global “economic spillovers” from rising tensions in the Middle East as the White House pledged to exact new sanctions against Iran.

FILE - The exterior of the Internal Revenue Service (IRS) building is seen in Washington, on March 22, 2013. The IRS is promoting the improvements its made to its customer service since its received tens of billions in new funds through Democrats' Inflation Reduction Act. Agency leadership is trying to bring attention to what's been done to repair the agency's image as an outdated and maligned tax collector. Monday, April 15, 2024, is the last day to submit tax returns or to file an extension. (AP Photo/Susan Walsh, File)

It’s Tax Day. And your refund may be big this year

On this Tax Day, refunds are looking a bit bigger for taxpayers. According to the latest IRS statistics, the average refund this season has been $3,011, up $123 compared to last year. Two out of three taxpayers expect to receive a refund.