By virtue of the ease of formation and the absence of ownership disclosure requirements, shell companies - generally defined as business entities without active business or significant assets - are an attractive vehicle for those seeking to launder money or conduct illicit activity. While business entities generally, and shell companies specifically, have legitimate commercial uses, this lack of transparency in the formation process poses vulnerabilities both domestically and internationally. The advantages of using these business entities for legitimate business purposes are in some senses...

The use of nationally recognized credit reporting agencies is an inexpensive tool that can assist Federal agencies to improve their credit management and debt collection programs.

The Monthly Treasury Statement of Receipts and Outlays of the United States Government is prepared by the Bureau of the Fiscal Service, Department of the Treasury, and after approval by the Fiscal Assistance Secretary of the Treasury, is normally released on the 8th workday of the month following the reporting month

This is a Technical Explanation of the Convention between the Government of the United States and the Government of the Republic of Hungary for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, signed on February 4, 2010 (the "Convention").

In summary during this past year CIGFO members discussed the newly published Commodity Futures Trading Commission (CFTC)/Securities Exchange Commission (SEC) regulation requiring investment advisors to private funds to periodically report data to the SEC for use by FSOC, the newly published FSOC rules for designating nonbank financial companies for additional supervision, Board of Governors of the Federal Reserve Board System (FRB) stress tests, and Office of Financial Research activities.

This annual work plan outlines the fiscal year 2013 audit priorities for the Office of Small Business Lending Fund (SBLF) Program Oversight within the Treasury Office of Inspector General. The plan provides brief descriptions of new and ongoing audits and reviews that the SBLF Program Oversight Office plans to pursue with respect to the Department's two small business lending programs-the SBLF program and State Small Business Credit Initiative (SSBCI).

We find that among the most important characteristics influencing RAL/RAC use were lower income, young adulthood, single head-of-household filing status, receipt of the Earned Income Tax Credit (EITC), and use of a paid preparer. We also find that RALs and RACs are highly spatially concentrated and that living in the poorest communities is associated with dramatic increases in use of these products, even after controlling for a taxpayer's income and filing status. Also, for the first time, we found some unique differences in the use of RALs versus RACs according to such variables as military...

In conducting the study, the Task Force reviewed the history and development of the MBS markets, the current disclosure requirements for these securities, and market driven industry disclosure practices and standards. The Task Force also interviewed a variety of MBS issuers and investors, and other experienced market participants and observers, which provided the Task Force with additional perspectives about the evolution of the MBS markets, including changing disclosure standards. The Task Force received recommendations concerning changes to current disclosure standards based on investor...

Programs and policies designed to promote higher levels of financial capability among youth have proliferated in recent years in the aftermath of the recent economic crisis. The trend is fueled by the growing recognition that more must be done to equip young people with the knowledge, skills and attitudes that will serve as the basis for a life time of sound financial decision making.