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Department of the Treasury

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noun
  1. the department of the U.S. federal government that collects revenue and administers the national finances. Abbreviation: TD
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
department of the treasury in Culture

Department of the Treasury

A department of the federal executive branch; it includes the Internal Revenue Service (see also Internal Revenue Service) (IRS). The Department of the Treasury has general responsibility for setting federal fiscal policy by collecting taxes and customs duties, administering the public debt, keeping all government accounts, minting currency, and licensing ships engaged in international and interstate commerce. The Department of the Treasury administers the Secret Service.

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The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.