Established in 1789 as one of the first federal departments, Treasury collects federal revenue, manages the public debt, and issues the nation's currency and coin. It houses the IRS, the sanctions office (OFAC), the financial-intelligence unit (FinCEN), and the bank regulator (OCC).
Open the interactive page for TREAS →Created byAct to establish the Treasury Department, Sept. 2, 1789 (ch. 12, 1 Stat. 65)
Head appointed31 U.S.C. § 301(b): 'The head of the Department is the Secretary of the Treasury,' appointed by the President by and with the advice and consent of the Senate. No fixed term (PAS)
Removal standardno statutory removal protection — removable at will (Myers v. United States, 272 U.S. 52 (1926))
Funded underFinancial Services and General Government Appropriations Act; permanent indefinite appropriation for interest on the public debt (31 U.S.C. § 1305)
Congressional oversightHouse Committee on Ways and Means; House Committee on Financial Services · Senate Committee on Finance; Senate Committee on Banking, Housing, and Urban Affairs
Inspector generalTreasury OIG and the Treasury Inspector General for Tax Administration (TIGTA), 5 U.S.C. § 403; 26 U.S.C. § 7803(d)
Judicial reviewAPA § 702 review in district court; Tax Court (26 U.S.C. § 7442); refund suits under 28 U.S.C. § 1346(a)(1)
Vote for President and Senate; comment on proposed tax regulations at regulations.gov; report tax fraud to the IRS on Form 3949-A; petition for removal of an OFAC sanctions designation under 31 CFR 501.807; ask Congress to set IRS funding through appropriations.