Treasury Department

The sections pertaining to public finance can be implemented immediately.

The proposed transition regulation addresses the possibility that such a modification of a debt instrument, derivative, or other financial contract could be a taxable transaction for federal income tax purposes or could result in other tax consequences.

Internal Revenue Service enforcement officials told NABL workshop attendees the service is hiring five new revenue agents, up from the current 20, and two additional tax law specialists.

The lawsuits were filed a day after 11 Democrats in the Senate and a bipartisan group of 47 House lawmakers announced a long-shot effort to repeal the regulation using the Congressional Review Act.

The limit on the SALT deduction caused an estimated 10.88 million individual taxpayers to lose $323.1 billion in tax deductions for the 2018 tax year, the Treasury Inspector General for Tax Administration reported in February.

The Treasury and Internal Revenue Service sent the final regulation to the White House Office of Management and Budget over six weeks ago.

The U.S. budget deficit widened to $691 billion in the first half of fiscal 2019 as spending outpaced an increase in revenue.

The federal government ran a $234.0 billion deficit in February, the Treasury Department reported Friday.

A gauge of U.S. economic health closely watched by the Federal Reserve is flashing warning signs for the second time this year.

All four industry groups that submitted comments on the proposed rule requested a continuation of the practice that allows remarketing reissuances at a premium.

Newly issued Treasury securities held in stripped form decreased about $1.197 billion in February.

The federal government ran an $8.7 billion surplus in January, the Treasury Department reported Tuesday.

An easier procedure for declaring when a reissuance occurs is among NABL's recommendations.

The window is closing as the Treasury begins to take extraordinary measures to prevent breaching the nation’s debt limit.

The cap, repeal of which is a priority for state and local groups, will affect nearly 11 million taxpayers, an audit found.

The SLGS window could be closed for weeks or even months, a bad result for issuers who need access to them.

The federal government ran a $13.5 billion deficit in December, the Treasury Department reported Wednesday.

None of the 12 recommendations require congressional action and all are within the scope of the administrative powers of the IRS, according to NABL.

Libor based municipal debt stood at $47.6 billion at the end of 2018, or about 1.3% of the overall muni market.

Newly issued Treasury securities held in stripped form increased about $2.97 billion in January to a total of $301.182 billion.