FATIMA HUSSEIN

FILE - A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. The IRS is still too slow to process amended tax returns, answer taxpayer phone calls and resolve identity theft cases, according to an independent watchdog within the agency. The organization sent a report to Congress Wednesday that the backlog of unprocessed amended returns has quadrupled from 500,000 in 2019 to 1.9 million in October last year. (AP Photo/Patrick Semansky, File)
For IRS, backlogs and identity theft problems remain, but there is ‘cautious optimism’ watchdog says
The IRS is still too slow to process amended tax returns, answer taxpayer phone calls and resolve identity theft cases, according to an independent watchdog within the agency.
 
FILE - A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. The IRS is still too slow to process amended tax returns, answer taxpayer phone calls and resolve identity theft cases, according to an independent watchdog within the agency. The organization sent a report to Congress Wednesday that the backlog of unprocessed amended returns has quadrupled from 500,000 in 2019 to 1.9 million in October last year. (AP Photo/Patrick Semansky, File)
IRS announces January 29 as start of 2024 tax season
The IRS has announced January 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline.
 
U.S. Treasury Secretary Janet Yellen tours the work area during a visit to the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., Monday, Jan. 8, 2024. Yellen announced that 100,000 businesses have joined a new database that collects "beneficial ownership" information on firms as part of a new government effort to unmask shell company owners. (AP Photo/Susan Walsh)
Yellen says 100,000 firms have joined a business database aimed at unmasking shell company owners
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database of that collects ownership information intended to help unmask shell company owners.
 
FILE - The Treasury Building in Washington, on May 4, 2021. The U.S. and U.K. on Thursday imposed sanctions on four leaders of Yemen’s Houthi rebel group who have supported the militant group’s recent attacks on vessels in the Red Sea and Gulf of Aden. (AP Photo/Patrick Semansky, File)
US national debt hits record $34 trillion as Congress gears up for funding fight
The U.S. Treasury has announced that the nation’s gross national debt has surpassed $34 trillion. The record high comes after Republican lawmakers and the White House agreed to temporarily lift the nation’s $31.4 trillion debt limit last year after the government ran up against its legal borrowing c
 
FILE- The U.S. Treasury Department building is shown at dusk in Washington on June 6, 2019. The U.S. hit a United Arab Emirates shipping firm and its 18 vessels with sanctions after it transported Russian crude oil above the $60 per barrel price cap. U.S. firms and people can no longer conduct business with the firm. The U.S., EU, countries in the Group of Seven and Australia, imposed a $60 a barrel limit in 2022 on Russian oil. Any purchases above the cap violate the agreed-upon policy. (AP Photo/Patrick Semansky, File)
US sanctions money network tied to the Yemen Houthi rebels blamed for shipping vessel attacks
The U.S. is imposing sanctions on a group of money exchange services from Yemen to Turkey alleged to be providing funds to Iranian-backed Houthi rebels who have been launching attacks on commercial shipping vessels in the southern Red Sea.
 
FILE - Hydrogen storage tanks are visible at the Iberdrola green hydrogen plant in Puertollano, central Spain, March 28, 2023. The Biden administration on Friday, Dec. 22, released its highly anticipated proposal for how the U.S. plans to dole out tax credits to hydrogen producers. (AP Photo/Bernat Armangue, File)
Biden’s hydrogen tax credit unveiled as administration tries to jump start industry
The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner alternative to fossil fuel power.
 
FILE - President Joe Biden speaks about his economic agenda at the Wisconsin Black Chamber of Commerce, Wednesday, Dec. 20, 2023, in Milwaukee. Biden will sign an executive order on Friday, Dec. 22, giving the U.S. Treasury Department the authority to target financial institutions that facilitate Russia's ongoing efforts to bolster its defense industry. (AP Photo/Evan Vucci, File)
Biden signs an executive order aimed at financial facilitators of the Russian defense industry
President Joe Biden signed a new executive order aimed at targeting financial facilitators of the Russian defense industry.
 
This is a portion of US Steel's Edgar Thomson Plant in Braddock, Pa., on Monday, Dec. 18, 2023. U.S. Steel, the Pittsburgh steel producer that played a key role in the nation's industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. (AP Photo/Gene J. Puskar)
Biden believes U.S. Steel sale to Japanese company warrants ‘serious scrutiny,’ White House says
The White House says President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan’s Nippon Steel. The transaction has drawn alarm from the steelworkers union and others.
 
FILE- The U.S. Treasury Department building is shown at dusk in Washington on June 6, 2019. The U.S. hit a United Arab Emirates shipping firm and its 18 vessels with sanctions after it transported Russian crude oil above the $60 per barrel price cap. U.S. firms and people can no longer conduct business with the firm. The U.S., EU, countries in the Group of Seven and Australia, imposed a $60 a barrel limit in 2022 on Russian oil. Any purchases above the cap violate the agreed-upon policy. (AP Photo/Patrick Semansky, File)
U.S. imposes more Russian oil price cap sanctions and issues new compliance rules for shippers
The U.S. has imposed new sanctions on alleged violators of its price cap on Russian oil and tightened compliance rules for insurance firms and shippers that move it.
 
FILE - A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. The IRS said Tuesday, Dec. 19, 2023, that it is going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 per year for tax years 2020 and 2021.(AP Photo/Patrick Semansky, File)
IRS to waive $1 billion in penalties for people and firms owing back taxes for 2020 or 2021
The IRS says it’s going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 a year for tax years 2020 or 2021.
 
FILE - The likeness of George Washington is seen on a U.S. one dollar bill, March 13, 2023, in Marple Township, Pa. The Congressional Budget Office said Friday, Dec. 15, that it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years. (AP Photo/Matt Slocum, File)
Congressional Budget Office projects lower inflation and higher unemployment into 2025
The Congressional Budget Office says it expects inflation to nearly hit the Federal Reserve’s 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
 
FILE - Treasury Secretary Janet Yellen speaks during a press conference after meetings with Chinese Vice Premier He Lifeng, Friday, Nov. 10, 2023, in San Francisco. Treasury Secretary Janet Yellen says former President Donald Trump's policies toward China left America “more vulnerable and more isolated” in the global economy, a rare jab by her at the frontrunner for the Republican presidential nomination. Yellen made the comment in remarks prepared for delivery at a U.S.-China Business Council event Thursday night. (AP Photo/Eric Risberg, File)
Janet Yellen says the Trump administration’s China policies left the US more vulnerable
Treasury Secretary Janet Yellen says former President Donald Trump’s economic policies toward China left America “more vulnerable and more isolated” in the global economy.
 
Treasury Secretary Janet Yellen delivers opening remarks during a finance ministers meeting, as part of the APEC Summit, Monday, Nov. 13, 2023, in San Francisco. (AP Photo/Eric Risberg)
New sanctions from the US and Britain target Hamas officials who help manage its financial network
The United States has announced new war-related of sanctions against Hamas, targeting eight officials and representatives who help manage the militant group’s financial network.
 
FILE - The Treasury Building is viewed in Washington on May 4, 2021. The Biden administration hit hundreds of people and firms, from Russia to China to Turkey and the United Arab Emirates, with economic and diplomatic sanctions Tuesday, Dec. 12, 2023, as the U.S. targets third-country contributors that are equipping Russia's invasion of Ukraine. (AP Photo/Patrick Semansky, File)
US announces new sanctions on Russia’s weapons suppliers as Zelenskyy visits Washington
The Biden administration is hitting hundreds of people and firms around the globe with new economic and diplomatic sanctions as the U.S. targets third-country contributors that are equipping Russia’s invasion of Ukraine.
 
FILE- The U.S. Treasury Department building is shown at dusk in Washington on June 6, 2019. The U.S. on Tuesday, Dec. 5, 2023, imposed sanctions on a Belgian involved in procuring electronics for the Russian military, his companies and a group of Belarusian firms and people tied to Russia's invasion of Ukraine. (AP Photo/Patrick Semansky, File)
U.S. sanctions officials from Afghanistan to China on declaration of human rights anniversary
The U.S. on Friday imposed sanctions on 20 people, from Afghanistan to China to Haiti to Iran, accused of violating human rights in their respective nations.
 
U.S. Treasury Secretary Janet Yellen and the Mexican Secretary of Finance Rogelio Ramirez de la O shake hands after a news conference at the National Palace in Mexico City, Thursday, Dec. 7, 2023. (AP Photo/Fernando Llano)
New US-Mexico agreement to monitor foreign investments comes as more Chinese money flows into Mexico
The United States and Mexico have agreed to monitor foreign investments and regularly share information about the screening process. Announcement of the deal Thursday in Mexico City comes as more Chinese money is flowing into Mexico. U.S.
 
FILE - The Treasury Building is viewed in Washington, May 4, 2021. In response to increasing attacks against ships in the southern Red Sea by Iranian-backed Houthi rebels, the U.S. has announced sanctions against 13 people and firms alleged to be providing tens of millions of dollars to the Houthis in Yemen. (AP Photo/Patrick Semansky, File)
US sanctions money lending network to Yemen’s Houthi rebels, looks to boost maritime protections
The White House is encouraging Mideast allies to join the Combined Maritime Forces, a partnership that exists to counter malign action by non-state actors in international waters.
 
Treasury Secretary Janet Yellen delivers opening remarks during a finance ministers meeting, as part of the APEC Summit, Monday, Nov. 13, 2023, in San Francisco. (AP Photo/Eric Risberg)
In Mexico, Yellen announces economics sanctions as the US aims to crack down on fentanyl trafficking
 
FILE- The U.S. Treasury Department building is shown at dusk in Washington on June 6, 2019. The U.S. on Tuesday, Dec. 5, 2023, imposed sanctions on a Belgian involved in procuring electronics for the Russian military, his companies and a group of Belarusian firms and people tied to Russia's invasion of Ukraine. (AP Photo/Patrick Semansky, File)
U.S. imposes new round of sanctions over Russia’s invasion of Ukraine
The U.S. has imposed sanctions on a Belgian involved in procuring electronics for the Russian military, his companies and a group of Belarusian firms and people tied to Russia’s invasion of Ukraine. The Treasury on Tuesday announced the sanctions.
 
Treasury Secretary Janet Yellen speaks at the IRS about the upcoming tax filing season Tuesday, Nov. 7, 2023, at IRS headquarters in Washington. (AP Photo/Jacquelyn Martin)
Janet Yellen is heading to Mexico after Treasury launches a new fentanyl trafficking strike force
Treasury Secretary Janet Yellen is heading to Mexico this week, a trip announced shortly after her agency created a new strike force to help combat illicit fentanyl trafficking.
 
FILE - The Treasury Building is viewed in Washington, May 4, 2021. President Joe Biden will sign an executive order on Friday, Dec. 22, 2023, giving the U.S. Treasury Department the authority to target financial institutions that facilitate Russia's ongoing efforts to bolster its defense industry. (AP Photo/Patrick Semansky, File)
US sanctions financial network tied to Iranian oil sales
The U.S. Treasury Department has imposed a new round of sanctions against a group of 20 people and firms who are allegedly involved in a financial facilitation network for the benefit of the Iranian military.
 
President Joe Biden speaks at CS Wind, Wednesday, Nov. 29, 2023, in Pueblo, Colo., as workers stand on the stage with him. (AP Photo/Jack Dempsey)
Biden targets GOP Rep. Boebert in her district in a fresh political attack on Republicans
In Colorado, President Joe Biden has said Rep. Lauren Boebert was wrong to describe his policies as “a massive failure.” During a visit to her congressional district.
 
Binance founder and CEO Changpeng Zhao, right, leaves federal court in Seattle, Tuesday, Nov. 21, 2023, after pleading guilty to violations of U.S. anti-money laundering laws. (Ken Lambert/The Seattle Times via AP)
Regulators and law enforcement crack down on crypto’s bad actors. Congress has yet to take action
While the scandals in the cryptocurrency industry seem to never end, Washington policymakers appear to have little interest in pushing through legislation to codify the structure of the industry.
 
FILE - A sign outside the Internal Revenue Service building is seen, May 4, 2021, in Washington. (AP Photo/Patrick Semansky, File)
IRS delays reporting rules for users of Venmo, Cash App and other payment apps
Users of Venmo, Cash App and other payment apps will get a bit of a tax reprieve this year. The IRS announced on Tuesday that it will delay implementing its $600 tax reporting requirement that was to take effect for the 2023 tax filing season.
 
FILE - Binance CEO Changpeng Zhao answers a question during a Zoom meeting interview with The Associated Press on Nov. 16, 2021. Zhao the founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday, Nov. 21, 2023, to a felony charge that he failed to take steps to prevent money laundering as the company agreed to pay more than $4 billion following an investigation by the U.S. government. (AP Photo/File)
Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering
The U.S. government has dealt a massive blow to Binance, the world’s largest cryptocurrency exchange.
 
FILE- The U.S. Treasury Department building is shown at dusk in Washington on June 6, 2019. The United States on Thursday imposed a new round of sanctions on roughly 130 firms and people from Turkey to China to the United Arab Emirates in an effort to choke off Moscow’s access to tools and equipment that support its invasion of Ukraine. (AP Photo/Patrick Semansky, File)
US sanctions Iran-backed militia members in Iraq conducting strikes against American forces
The U.S. has imposed sanctions on six people affiliated with the Iranian-backed Iraqi militia Kataeb Hezbollah, which is accused of being behind a spate of recent attacks against U.S. forces in Iraq and Syria following the Oct. 7 attacks by Hamas against Israel.
 
FILE - Russian President Vladimir Putin listens to Minister of Construction and Housing and Communal Services of the Russian Federation Irek Faizullin during their meeting in Moscow, Russia, Nov. 14, 2023. The U.S. Treasury has levied a new round of sanctions on firms and ships that used U.S. service providers to carry Russian crude oil in violation of the multinational price cap and imposed another set of sanctions on a group of Balkan people and firms tied to Kremlin influence in the region. (Gavriil Grigorov, Sputnik, Kremlin Pool Photo via AP)
US imposes new sanctions over Russian oil price cap violations, Kremlin influence in the Balkans
The U.S. Treasury has levied a new round of sanctions on firms and ships that used U.S. service providers to carry Russian crude oil in violation of the multinational price cap — and imposed another set of sanctions on a group of Balkan people and firms tied to Kremlin influence in the region.
 
FILE- The U.S. Treasury Department building is shown at dusk in Washington on June 6, 2019. The United States on Thursday imposed a new round of sanctions on roughly 130 firms and people from Turkey to China to the United Arab Emirates in an effort to choke off Moscow’s access to tools and equipment that support its invasion of Ukraine. (AP Photo/Patrick Semansky, File)
A third round of US sanctions against Hamas focuses on money transfers from Iran to Gaza
The United States says it has imposed a third round of sanctions on a group of Hamas officials, members of the Palestinian Islamic Jihad who work to transfer money from Iran to Gaza, and a Lebanese money exchange service that facilitates the transfers.
 
Treasury Secretary Janet Yellen, right, sits next to Chinese Vice Premier He Lifeng Friday, Nov. 10, 2023, in San Francisco. Yellen and Lifeng met on Thursday in the San Francisco, the latest in a string of senior level engagements between the nations in recent months aimed at easing tensions. (AP Photo/Eric Risberg)
Yellen says her talks with Chinese finance chief laid groundwork for Biden’s meeting with Xi
U.S. Treasury Secretary Janet Yellen says she and her Chinese counterpart have agreed to work toward a “healthy economic relationship,” during two days of talks that she said helped lay the groundwork for a productive meeting next week between President Joe Biden and Chinese President Xi Jinping.
 
Treasury Secretary Janet Yellen, right, greets Chinese Vice Premier He Lifeng Thursday, Nov. 9, 2023, in San Francisco. Yellen and Lifeng are meeting in San Francisco on Thursday to start two days of talks aimed at making progress on a slew of economic issues when competition has markedly intensified between their countries. (AP Photo/Eric Risberg)
Yellen stresses economic cooperation with China as she begins talks with her Chinese counterpart
Treasury Secretary Janet Yellen says the United States has no desire to break economic ties with China. She spoke Thursday as she began two days of talks with her Chinese counterpart in San Francisco.
 
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