FAQs
What does US Department of Treasury do? ›
Treasury operates and maintains systems that are critical to the Nation's financial infrastructure, such as disbursing payments to the American public, collecting taxes, producing coins and currency, and issuing debt necessary to run the Federal government.
Why would I get a letter from the US Department of Treasury? ›If you owe money to a federal agency and you did not pay it on time, you have a delinquent debt. You will receive a letter first from the agency to whom you owe the debt. If you do not pay the agency, the debt then goes to Treasury and we send you a letter about that debt.
Is the Department of Treasury the same as the IRS? ›The IRS is a bureau of the Department of the Treasury and one of the world's most efficient tax administrators. In fiscal year 2020, the IRS collected almost $3.5 trillion in revenue and processed more than 240 million tax returns. The IRS spent just 35 cents for each $100 it collected in FY 2020.
Why did I get a check from the US Department of the Treasury Bureau of the Fiscal Service? ›The Bureau of the Fiscal Service (BFS), which is part of the Treasury Department, initiates refund offsets to outstanding federal agency debts or child support, state income tax obligations and unemployment compensation debts. These offsets are referred to as Treasury Offset Program (TOP) offsets.
Is the US Department of Treasury sending out checks? ›Over the past eleven weeks, Treasury has sent out nearly 83 million checks for more than $35 billion in tax relief. Treasury will continue to send out checks as extensions or late-filed returns are processed.
How do I know if I have a U.S. Treasury check? ›All U.S. Treasury checks are printed on watermarked paper. The watermark reads “U.S. TREASURY” and can be seen from both the front and back of the check when held up to a light. The watermark is light and cannot be reproduced by a copier.
What if I received a check from the US treasury with no explanation? ›You can look up the authorizing agency directly and contact them to find out why they sent the payment. If you do not know which agency authorized the payment, call the Bureau of the Fiscal Service Call Center at 1-855-868-0151. They can help you determine which government agency you need to contact.
What letters come from the Department of Treasury IRS? ›Most IRS letters and notices are about federal tax returns or tax accounts. Each notice deals with a specific issue and includes any steps the taxpayer needs to take. A notice may reference changes to a taxpayer's account, taxes owed, a payment request or a specific issue on a tax return.
Why would the IRS Department of Treasury send me a letter? ›If you receive an IRS notice or letter
We have a question about your return. We need to verify your identity. We changed or corrected your return. We're delayed in processing your return.
Contacts for the Public
To obtain information on whether your tax refund or federal payment was reduced or offset, you can call 800-304-3107 and select option 1 to hear an automated message of the amount, date and creditor agency or agencies you owe the debt to.
Why would the Department of Treasury call me? ›
Unsolicited Phone Calls, Text Messages, or Emails Purporting to be from the Treasury Office of Inspector General, Office of Investigations, FinCEN, OFAC, the Treasury “Office of Legal Affairs”, or even from the Secretary of the Treasury, are frauds.
Why did I get a check from the U.S. Treasury no explanation in 2024? ›This scam involves the fraudulent use of checks that appear to be issued by the U.S. Treasury. Scammers send counterfeit checks to individuals, claiming that the recipients are entitled to receive a government grant, tax refund, or other payments from the Treasury.
What to do if you received a payment from the US Department of the Treasury and do not know what it is for? ›If you received a check or EFT (Electronic Funds Transfer) payment from Treasury and don't know why it was sent to you, the Bureau of the Fiscal Service Call Center can help. The Bureau of the Fiscal Service Call Center can be reached by calling 1-855-868-0151, Option 2.
Why is the U.S. Treasury taking money out of my account? ›The Treasury Offset Program (TOP) collects past-due (delinquent) debts (for example, child support payments) that people owe to state and federal agencies. TOP matches people and businesses who owe delinquent debts with money that federal agencies are paying (for example, a tax refund).
What is the U.S. Treasury job? ›Secretary and Senior Officials
The Secretary of the Treasury is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt.
Treasury's operating cash is maintained in an account at the Federal Reserve Bank of New York and in Tax and Loan accounts at commercial banks.