Home > United States Department of the Treasury
The United States Department of the Treasury is a Cabinet department, a treasury, of the United States government established by an Act of Congress in 1789 to manage the revenue of the United States government.
1 Overview
It is administered by the United States Secretary of the Treasury and the Treasurer of the United States who receives and keeps the monies of the United States. The Department prints and mints all the Federal Reserve notes and coins in circulation through the Bureau of Engraving and Printing and the United States Mint. It also collects all taxA tax is an involuntary fee paid by individuals or businesses to a government. Taxes may be paid in cash or kind (although payments in kind may not always be allowed or classified as taxes in all systems). The means of taxation, and the uses to which thees through the Internal Revenue Service.
The basic functions of the Department of the Treasury include:
- Managing Federal finances;
- Collecting taxes, dutiesThe tax, tariff and trade laws of a political region, state or trade bloc determine which forms of consumption and production tend to be encouraged or discouraged. All three are often changed by a trade pact. Typically all three types of laws must also be and monies paid to and due to the U.S. and paying all bills of the U.S.;
- Producing all postage stampA postage stamp is evidence of pre-paying a fee for postal services. Usually a small paper rectangle which is attached to an envelope, signifying that the person sending the letter or package has paid for delivery, it is the most popular alternative to uss, currencyFor exchange rates, see here. A currency is a unit of exchange, facilitating the transfer of goods and services. It is a form of money, where money is defined as a medium of exchange rather than e. a store of value. A currency zone is a country or region and coinage;
- Managing Government accounts and the U.S. public debt;
- Supervising national banks and thrift institutions;
- Advising on domestic and international financial, monetary, economic, trade and tax policy - fiscal policy being the sum of these, and the ultimate responsibility of U.S. Congress.
- Enforcing Federal finance and tax laws;
- Investigating and prosecuting tax evaders, counterfeiters, forgers, smugglers, illicit spirits distillers, and gun law violators;
The term Treasury reform usually refers narrowly to reform of monetary policy and related economic policy and accounting reform. The broader term monetary reform usually involves changes to institutions created at the Bretton Woods Conference of 1944, e.g. the World Bank, which govern the relationship of the US dollar to other global currencies.
