Treasury

IRS Marks the Annual Tax Filing Deadline With a Plea for More Funding

Chronic underfunding has hurt the tax agency's ability to modernize, says a top official, who wrote that the U.S. tax system "is a tax system where ripped paper returns are literally pieced together with scotch tape."

IRS’ ‘Where’s My Return’ Tools Needs Updates Amid Lack Of Agency Plans, Watchdog Says

The Government Accountability Office regards modernizing taxpayer digital resources as a high priority item despite a reported lack of funding.

Treasury Sanctions Russian 'Hydra' Dark Net, Major Crypto Trading Platform

The U.S. imposed new sanctions on Hydra Market and Garantex as it continues cryptocurrency laundering crackdowns. 

Treasury Wants to Know How the Government Might Grow Cyber Insurance Market

The department is in a bit of an awkward position, tasked with supporting the industry while cautioning against ransomware payouts.

U.S. to Target North Korea’s Technology Access In Response to Recent Missile Tests

A “range of further actions” are anticipated for the coming days, an official said.

Russian Aggression Hastens Lawmakers' Push to Enforce Sanctions in Crypto Industry

The Justice Department also launched a ‘KleptoCapture’ task force to target the use of cryptocurrencies for sanctions evasion.

IRS Backs Away From Facial Recognition Technology

The move comes after a letter from Senate Finance Committee chair Sen. Ron Wyden urged the tax agency to end a controversial contract with ID.me that requires taxpayers to submit biometric data to file tax returns online.

Treasury Considering State and Local Grants to Implement Digital ID Systems

The effort to stimulate widespread use of digital identification is aligned with a White House order on cybersecurity and could help defend against ransomware attacks, officials said.

Women Report from the Frontlines of Federal Cryptocurrency Governance

Over the course of 2021, Congress and the administration have recognized significant benefits from diving into the technology, a trend that looks poised to continue.

Senators Ready to Write Clarifying Legislation to Maintain U.S. Leadership in Crypto

Stakeholders fear an overly broad application of the tax provisions beyond virtual currency exchanges.

Government Watchdog Welcomes Treasury’s Data Collection on Cyber Insurance Claims

A Government Accountability Office report on the Treasury Department’s role in shaping the market for cybersecurity insurance is expected next spring.

U.S. Government Acts Against Alleged REvil Hackers

The Justice Department announced two indictments while the State Department offered $10 million for information on other conspirators. 

Treasury Analysis Identifies Cryptocurrency Exchanges Associated With Ransomware

The department is tracking a huge increase in ransomware disclosures but data suggests the events are still grossly underreported.

Senate Bill Would Direct Treasury to Assess Crypto Mining Rates and Uses Over Time

The bipartisan legislation would require a Congressional report that dives deep into virtual currency use.

Treasury Sanctions First Cryptocurrency Exchange to Combat Ransomware 

The department also emphasized guidance for victim organizations who risk running afoul of enforcers by paying attackers and failing to report incidents.