Department of Treasury - Federal Departments

Year Founded: 1789

Employees: 87,366

Outlay: $20B / year

Employee Expense: $5.4B in 2017

The Federal Government is broken down into fifteen departments, each of which consists of a number of sub-departments and organizational groups tasked with accomplishing the Department's overall goals.

The Department of the Treasury was created to manage the governments revenue. The Treasury is most commonly known for operating the Internal Revenue Service (IRS). In addition to managing taxes and revenue, the Treasury mints paper currency and coins. The Treasury has become a steward of the U.S. economy by working to promote economic growth and stability in the economy by combatting threats to the fanatical system.

Who does the Department of Treasury hire?

The Treasury primarily hires Accountants, Attorneys, Economists, Human Resource Specialists, Information Technology Specialists and Intelligence Specialists. The Alcohol and Tobacco Tax and Trade Bureau (TTB) and the Financial Crimes Enforcement Network (FinCEN), subsidiaries of the Treasury, hire Law Enforcement Officers as well.

In 2017, the most common occupation employed by the Department of Treasury was Contact Representative at 13,469 employees. The second largest occupation was Internal Revenue Agent with 9,542 employees.

The Treasury building is located in Washington D.C. where the majority of its workforce is stationed. The bureaus within the Treasury are located at several other locations around the country, including Ohio, Maryland and California. The law enforcement elements are located at one of 12 field offices around the country.

History of the Department of Treasury

Established on September 2, 1789, the Treasury Department is the nations second oldest federal department. The Treasury was first tasked with administering the sale of land in the United States. The Treasury's responsibilities have grown to include create currency, collecting taxes, paying the nation's bills, managing financial institutions and advising on domestic and global financial matters.

Alexander Hamilton became the nation's first Secretary of the Treasury on September 11, 1789. Hamilton served for five tenuous years as the basic structure of the federal government was first established. When he left office in 1894, the Treasury had established the mint, had helped to pass the first bill to levy tariffs and had begun reporting about the state of the economy to congress.

In 2003, the Treasury Department as restructured as a result of the Homeland Security Act of 2002, a product of the terrorist attacks on September 11, 2011, which established the Department of Homeland Security. Several agencies including the Bureau of Alcohol, Tobacco and Firearms were transferred from the Treasury department to other departments.

Average Pay of an Employee in the Department of Treasury

Agencies in the Department of Treasury (2017)