The Department of the Treasury is an executive department, It was established by an Act of Congress in 1789 to manage government revenue. The Department is administered by the Secretary of the Treasury, who is a member of the Cabinet.
The basic functions of the Department of the Treasury include:
1. Managing federal finances;
2. Collecting taxes, duties and money paid to and due to the U.S. and paying all bills of the U.S.;
3. Producing all postage stamps, currency, and coinage of the U.S.;
4. Managing government accounts and the United States public debt;
5. Supervising national banks and thrift institutions;
6. Advising on domestic and international financial, monetary, and economic, trade and tax policy – fiscal policy being the sum of these, and the ultimate responsibility of Congress.
7. Enforcing Federal finance and tax laws;
8. Investigating and prosecuting tax evaders;
9. Publishing statistical reports.