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All You Need to Know About The U.S. Treasury

All You Need to Know About The U.S. Treasury What is the U.S. Treasury?

The U.S. Treasury is a Federal agency that operates within the United States of America that is responsible for all matters and affairs concerning finance within the United States of America; the responsibilities undertaken by the U.S. Treasury not only regulate and oversee the production of American currency, but also provide management and administration with regard to the financial systems implemented by the Federal government of the United States – this includes revenue incurred, spending, and budget analysis.

A variety of departments exist under the jurisdiction of the U.S. Treasury; each of which maintains specific responsibilities and focal points with regard to their respective financial services; these departments include the United States Mint, the Internal Revenue Service (IRS), and the Office of Terrorism and Financial Intelligence:

U.S. Treasury Quick Facts

The following details outline the administration of the U.S. Treasury:

The U.S. Treasury was founded on September 2nd, 1789; Alexander Hamilton was appointed by George Washington as the first Secretary of the U.S. Treasury

The current Secretary of the U.S. Treasury is Timothy Geithner; he is supported by Deputy Secretary of the U.S. Treasury Neal S. Wolin, and Treasurer Rosa Gumataotao Rios

The annual budget afforded to the U.S. Treasury is estimated to range between $19 billion and $20 billion

Government Agency of the Executive Branch

Government agencies are defined as organizations, councils, and offices operating under the jurisdiction of the Federal Government of the United States of America; each federal agency retains specific administrative jurisdiction over specific facets latent within the operations of the United States Government.

The U.S. Treasury functions as a government agency under the Executive Branch of the United States government, which is comprised of 3 total branches; in addition to the Executive branch – which is responsible for the regulation and enforcement of operational legislation existing within the United States of America – there also exists the Legislative and Judicial Branches.

U.S. Treasury Associated Terms

The following terms and terminology are oftentimes associated with the operations and undertakings of the U.S. Treasury:

Taxation

the process and procedure of levying fees and funds whose payment is required to be furnished with regard to the nature and type of individual tax; income tax is defined as a required percentage of an individual’s earnings through employment or receipt of assistance from government programs. Sales tax is defined as a percentage levied with regard to the gross purchase price that is included amidst the commercial transaction in question – both the items eligible for sales tax, as well as the respective rate of sales tax vary in accordance to locational jurisdiction.

U.S. Treasury Legality

Administrative Law is the legal field associated with events and circumstances in which the Federal Government of the United States engages its citizens, including the administration of government programs, the administration and operation of government agencies, and the establishment of a legal, regulatory federal standard. The U.S. Treasury can be contacted through their mailing address, which is as follows:

Department of the Treasury

1500 Pennsylvania Avenue, NW

Washington, D.C.

20220

(202) 622-2000

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