Treasury Announces TARP Investment in GMAC

(EMAILWIRE.COM, December 30, 2008 ) Washington, DC – The Treasury Department today announced that it will purchase $5 billion in senior preferred equity with an 8% dividend from GMAC LLC as part of a broader program to assist the domestic automotive industry in becoming financially viable. Under... more

Treasury Provides TARP Funds to Local Banks

(EMAILWIRE.COM, December 24, 2008 ) Washington - The U.S. Treasury Department announced today details of a $2.8 billion investment in 49 banks made on Friday, December 19 through its Capital Purchase Program. Treasury also closed $1.9 billion in transactions with 43 banks today. Full details of... more

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IRS Names Seven New Members to IRPAC

(EMAILWIRE.COM, December 20, 2008 ) WASHINGTON — The Internal Revenue Service today announced the selection of seven new members for the Information Reporting Program Advisory Committee (IRPAC). The appointees will join 27 returning members who are in the second year or third year of a three-year... more

Secretary Paulson Statement on Stabilizing the Automotive Industry

(EMAILWIRE.COM, December 19, 2008 ) Washington- Today, we have acted to support General Motors and Chrysler, with the requirement that they move quickly to develop and adopt acceptable plans for long term viability. This step will prevent significant disruption to our economy, while putting the companies... more

Treasury Hires Legal Firm Under the Emergency Economic Stabilization Act

(EMAILWIRE.COM, December 18, 2008 ) Washington- The U.S. Treasury Department today announced that Thacher, Proffitt & Wood, LLP will assist the Department with its investments in the Federal Reserve's Term Asset Backed Securities Loan Facility authorized under the Emergency Economic Stabilization... more

Treasury Hires Legal Firm Under the Emergency Economic Stabilization Act

(EMAILWIRE.COM, December 18, 2008 ) Washington - The U.S. Treasury Department today announced that Thacher, Proffitt & Wood, LLP will assist the Department with its investments in the Federal Reserve's Term Asset Backed Securities Loan Facility authorized under the Emergency Economic Stabilization... more

Comprehensive Tax Guide Available for Free at IRS.gov

(EMAILWIRE.COM, December 18, 2008 ) WASHINGTON — The IRS has placed its comprehensive tax guide for individuals on IRS.gov, updating it for tax year 2008. The updated on-line version of IRS Publication 17, “Your Federal Income Tax,” contains more than 900 interactive links. Publication 17 has... more

Under Secretary for International Affairs David H. McCormick Remarks on U.S.-Asia Economic Relations at the Asia Society in New York

(EMAILWIRE.COM, December 16, 2008 ) New York – This is an unprecedented time for the global economy. The downturn has been swift and severe, and the turmoil has spread quickly around the world. Countries across the globe have taken action to minimize the impact of the crisis and to reform the global... more

Treasury Welcomes Entry Into Force of New Tax Treaties, Protocol

(EMAILWIRE.COM, December 15, 2008 ) Washington - The Treasury Department announced today that a tax treaty protocol and two new tax treaties have entered into force. New tax treaties (and accompanying protocols) with Bulgaria and Iceland and a protocol amending the existing tax treaty with Canada... more

Treasury Department Public Engagements Schedule - FOR THE WEEK OF DECEMBER 13 – DECEMBER 19

(EMAILWIRE.COM, December 15, 2008 ) Washington DC - *Revised Monday, December 15, 12:15 p.m. EST (Updates time of Cabral press conference) Tuesday, December 16, 2008, 12:00 p.m. EST Under Secretary for International Affairs David H. McCormick Remarks on U.S.-China Economic Relations The... more

U.S. Government Releases FY 2008 Financial Report

(EMAILWIRE.COM, December 15, 2008 ) Washington - The Treasury Department and the Office of Management and Budget today released the Fiscal Year 2008 Financial Report of the United States Government. The report details the U.S. government's current financial position, as well as its short-term and... more

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