FY 2021 EXECUTIVE SUMMARY

FY 2021 President’s Budget Discretionary Appropriation Request

Dollars in Thousands

FY 2019 Enacted 

(post IRS 

transfer)

FY 2020 

Enacted

FY 2020 Enacted 

(post IRS 

transfer)

FY 2021 

President's 

Budget

Management & Financial $1,458,758 $1,538,377 $1,538,377 $1,300,909 

Departmental Offices Salaries and Expenses $214,576 $228,373 $228,373 $241,473 

Post-transfer Oversight of USSS (non-add) $0 $0 $0 $1,500 

Committee on Foreign Investment in the United States (CFIUS) Fund $0 $20,000 $20,000 $20,000 

CFIUS Fees $0 ($10,000) ($10,000) ($20,000)

Subtotal CFIUS Fund (non add)1 $0 $10,000 $10,000 $0 

Office of Terrorism and Financial Intelligence $159,000 $169,712 $169,712 $172,751 

Cybersecurity Enhancement Account $25,208 $18,000 $18,000 $18,000 

Treasury Capital Investments and Modernization Fund2 $4,000 $6,118 $6,118 $13,500 

Office of Inspector General $37,044 $41,044 $41,044 $39,335 

Treasury Inspector General for Tax Administration $170,250 $170,250 $170,250 $171,350 

Special Inspector General for TARP $23,000 $22,000 $22,000 $17,500 

Community Development Financial Institutions Fund $250,000 $262,000 $262,000 $14,000 

Financial Crimes Enforcement Network $117,800 $126,000 $126,000 $126,963 

Alcohol and Tobacco Tax and Trade Bureau $119,600 $119,600 $119,600 $125,837 

Bureau of the Fiscal Service $338,280 $340,280 $340,280 $350,200 

Digitization of Unredeemed Matured Savings Bonds Records $0 $25,000 $25,000 $10,000 

Tax Administration3

Taxpayer Services $2,491,554 $2,511,554 $2,535,554 $2,562,554 

Enforcement $4,665,600 $5,010,000 $4,909,500 $5,071,260 

Operations Support $3,918,400 $3,808,500 $3,885,000 $4,104,689 

Subtotal $11,075,554 $11,330,054 $11,330,054 $11,738,503 

Business Systems Modernization $150,000 $180,000 $180,000 $300,000 

Tax Reform Implementation $77,000 $0 $0 $0 

IRS Total Excluding Cap Adjustment $11,302,554 $11,510,054 $11,510,054 $12,038,503 

Cap Adjustment $0 $0 $0 $400,000 

IRS Total, Including Cap Adjustment $11,302,554 $11,510,054 $11,510,054 $12,438,503 

Subtotal, Treasury Appropriations excluding U.S. Secret Service and Cap 

Adjustment4 $12,761,312 $13,048,431 $13,048,431 $13,339,412 

United States Secret Service 5 $2,248,159 $2,415,845 $2,415,845 $2,360,538 

Operations and Support $2,148,528 $2,336,401 $2,336,401 $2,310,296 

Procurement, Construction & Improvements $97,131 $66,989 $66,989 $38,305 

Research and Development $2,500 $12,455 $12,455 $11,937 

Subtotal, Treasury including U.S. Secret Service and excluding Cap 

Adjustment6 $15,009,471 $15,464,276 $15,464,276 $15,699,950 

Treasury International Programs $1,547,697 $1,736,780 $1,736,780 $1,592,244 

Multilateral Development Banks $1,348,122 $1,522,205 $1,522,205 $1,481,244 

Food Security $30,000 $30,000 $30,000 $0 

Environmental Trust Funds $139,575 $139,575 $139,575 $0 

Office of Technical Assistance $30,000 $30,000 $30,000 $33,000 

Debt Restructuring - Tropical Forest Conservation Act $0 $15,000 $15,000 $0 

Somalia - Bilateral Debt Relief $0 $0 $0 $78,000 

Total, Treasury excluding Cap Adjustment $16,557,168 $17,201,056 $17,201,056 $17,292,194 

Total, Treasury $16,557,168 $17,201,056 $17,201,056 $17,692,194 

6/ U.S. Secret Service appropriations are included in the subtotals for FY 2019 and FY 2020 for comparison purposes, but were not included in Treasury’s enacted 

appropriations in those years.

5/ The FY 2021 President's Budget assumes the transfer of U.S. Secret Service to Treasury in FY 2021. FY 2019 and FY 2020 enacted amounts exclude 

rescissions and administrative adjustments ($5.7M in FY 2019/$.7M in FY 2020).

4/ Treasury’s enacted appropriation in FY 2019 was $12,561 million, after a $200 million rescission from the Treasury Forfeiture Fund.

1/ The overall request for Treasury's CFIUS costs is $35 million, which includes $15 million from the CFIUS Fund and $20 million from Departmental Offices Salaries 

and Expenses.

3/ FY 2020 Enacted (post IRS transfer) includes a proposed transfer of $100.5 million from Enforcement to Taxpayer Services ($24 million) and Operations Support 

($76.5 million). FY 2019 Enacted (post IRS transfer) includes a transfer of $194 million from Enforcement to Operations Support. $77 million for implementation of 

the Tax Cuts and Jobs Act was allocated to Taxpayer Services ($65 million) and Enforcement ($12 million).

2/ Previously known as the Department-wide Systems and Capital Investments Program.
MISSION STATEMENT

Maintain a strong economy and create economic and job opportunities by promoting conditions 

that enable economic growth and stability at home and abroad; strengthen national security by 

combating threats and protecting the integrity of the financial system; and manage the U.S. 

Government’s finances and resources effectively.

OVERVIEW OF REQUEST

The Budget requests $15.7 billion in base discretionary resources for the Department of the 

Treasury’s domestic programs, a $236 million or 1.5 percent increase from the FY 2020 enacted 

level. Excluding the United States Secret Service, Treasury requests $13.3 billion in base 

discretionary resources, a $291 million or 2.2 percent increase from FY 2020 enacted levels. It 

also requests $1.6 billion for Treasury’s international programs, a $145 million or 8.3 percent 

decrease from the FY 2020 enacted level. The Budget:

 Proposes to transfer of the United States Secret Service (USSS) from the Department of 

Homeland Security to Treasury as a standalone bureau. The request provides USSS with 

$2.36 billion in base discretionary resources to support the 2020 Presidential election through 

inauguration, continue growth in staff to meet mission expansion, and advanced 

countermeasures to address established and evolving threats. 

 Provides the IRS with $12.0 billion from base discretionary appropriations to collect $3.6

trillion in revenue, process more than 255 million tax returns, and continue to transform

systems to improve taxpayer service and experience and tax administration over the longterm. 

o The request provides $300 million for multi-year modernization efforts to deliver longterm, systemic transformation of service and compliance for millions of taxpayers, 

small businesses, and corporations, as well as put IT operations and maintenance costs 

on a sustainable path. The IRS will continue developing a case management solution to 

replace 60 legacy systems, new digital service options including electronic notices and 

live chat assistance, and new web applications to streamline taxpayer filing, payment, 

and authentication. 

o The request proposes $106 million for Taxpayer First Act implementation to revamp 

IRS customer service, introduce new taxpayer protections, and deliver new online 

service platforms to facilitate filing and payment.

o The request includes $5.1 billion in the enforcement account to continue building 

compliance staffing and protect billions of dollars in revenue. The IRS is one of the 

best investments in the federal government with an overall return on investment of $5 

for every $1 invested, not including significant deterrence effects. Every dollar 

invested in enforcement requires a funding increase in operations support for 

technology and administrative costs. 

o In addition to the amounts above, the request includes a program integrity initiative that

will generate approximately $79 billion in additional revenue and will cost 

approximately $15 billion, yielding estimated net savings of $64 billion over ten years. 

 Provides $241 million for Treasury Departmental Offices (including $20 million for the 

Committee on Foreign Investment in the United States) growing workload with funding 

increases to continue strengthening cybersecurity in the financial services sector, provide 
impact analysis for tax regulations, and enhance and broaden Treasury’s evidence-based 

decision making and program evaluation. Contingent on the transfer of USSS to Treasury, 

the request includes $1.5 million for departmental oversight. 

 Provides $173 million for Treasury’s Office of Terrorism and Financial Intelligence (TFI), a 

$3 million increase over the FY 2020 enacted level; and $127 million for the Financial 

Crimes Enforcement Network (FinCEN), a $1 million increase over the FY 2020 enacted 

level. These increases will allow TFI and FinCEN to continue their critical work 

safeguarding the financial system from abuse and combating other national security threats 

using non-kinetic economic tools. These additional resources will be deployed to bolster data 

analytic and cybercrime enforcement capabilities, fortify Bank Secrecy Act data, and counter 

the financial networks that support terrorists, organized transnational crime, weapons of mass 

destruction proliferators, and other threats.

 Proposes to transfer all alcohol and tobacco responsibilities from the Department of Justice’s 

Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) to Treasury’s Alcohol and 

Tobacco Tax and Trade Bureau (TTB). This transfer would leverage TTB’s resources and 

expertise relating to the alcohol and tobacco industries and allow ATF to continue to focus 

on its firearms and explosives mandates, enabling both agencies to more efficiently and 

effectively carry out their core missions of protecting the public.

 Provides $1.6 billion for Treasury’s International Programs to support U.S. leadership in the 

International Financial Institutions. The budget proposes to extend and increase the IMF 

New Arrangements to Borrow, which preserves U.S. control over the activation of 

emergency IMF resources and reflects progress on a variety of institutional reforms at the 

IMF. In addition, it provides for critical investments to safeguard U.S. leadership in the

Multilateral Development Banks (MDBs) while continuing to press for necessary reforms. 

Recently negotiated reforms – led by the United States - will improve financial management 

and debt sustainability while increasing the MDBs’ focus on infrastructure, women’s 

economic empowerment, and assistance to fragile states. The request seeks authorization and 

funding for U.S. participation in an African Development Bank capital increase as well as 

new pledges to the World Bank’s International Development Association and the African 

Development Fund. It also includes authorization to vote in favor of a capital increase at the 

International Finance Corporation, which will not require any U.S. funding. The budget 

proposes $33 million for Treasury’s Office of Technical Assistance and $78 million for U.S. 

debt relief as part of the Heavily Indebted Poor Countries (HIPC) debt relief process for 

Somalia. 

 Proposes to impose appropriate Congressional oversight of the Treasury Financial Stability 

Oversight Council and Office of Financial Research (OFR) by subjecting their activities to 

the normal appropriations process. The Budget continues the reduced level of OFR spending 

commensurate with the renewed fiscal discipline being applied across the Federal 

Government.
Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing (Direct and Reimbursable)
(Dollars in Thousands)

Treasury Goal/Objective Boost U.S. Economic 

Growth

Promote Financial 

Stability

Enhance National 

Security

Transform 

Government-wide 

Financial 

Stewardship

Achieve Operational 

Excellence Total

Management & Financial $392,778 $38,250 $348,652 $439,872 $81,358 $1,300,909 

Departmental Offices Salaries and Expenses $82,991 $38,250 $48,938 $21,437 $49,858 $241,473 

Committee on Foreign Investment in the United States Fund1 $20,000 $20,000 

CFIUS Fees ($20,000) ($20,000)

Office of Terrorism and Financial Intelligence $172,751 $172,751 

Cybersecurity Enhancement Account $18,000 $18,000 

Treasury Capital Investments and Modernization Fund2 $13,500 $13,500 

Office of Inspector General $39,335 $39,335 

Treasury Inspector General for Tax Administration $171,350 $171,350 

Special Inspector General for TARP $17,500 $17,500 

Community Development Financial Institutions Fund $12,600 $1,400 $14,000 

Financial Crimes Enforcement Network $126,963 $126,963 

Alcohol and Tobacco Tax and Trade Bureau $125,837 $125,837 

Bureau of the Fiscal Service3 $360,200 $360,200 

Tax Administration $12,038,503 $12,038,503 

IRS Taxpayer Services $2,562,554 $2,562,554 

IRS Enforcement $5,071,260 $5,071,260 

IRS Operations Support $4,104,689 $4,104,689 

Business Systems Modernization $300,000 $300,000 

IRS Cap Adjustment 4 $400,000 $400,000 

IRS Total, Including Cap Adjustment $12,438,503 $0 $0 $0 $0 $12,438,503 

Subtotal, Treasury Appropriations excluding U.S. Secret Service and Cap Adjustment $12,431,281 $38,250 $348,652 $439,872 $81,358 $13,339,412 

United States Secret Service 5 $688,943 $0 $1,126,932 $0 $544,663 $2,360,538 

Operations and Support $688,943 $1,114,995 $506,358 $2,310,296 

Procurement, Construction & Improvements $38,305 $38,305 

Research and Development $11,937 $11,937 

Subtotal, Treasury including U.S. Secret Service and excluding Cap Adjustment $13,120,224 $38,250 $1,475,584 $439,872 $626,021 $15,699,950 

Treasury International Programs $33,000 $1,559,244 $1,592,244 

Total, Treasury excluding Cap Adjustment $13,120,224 $71,250 $1,475,584 $1,999,116 $626,021 $17,292,194 

Non-Appropriated Accounts

Office of Financial Stability (Administrative Account) $42,154 $42,154 

Terrorism Risk Insurance (Administrative) $3,000 $3,000 

Financial Stability Oversight Council $5,220 $5,220 $10,439 

Office of Financial Research $37,636 $37,636 $75,271 

Bureau of Engraving and Printing $888,700 $888,700 

United States Mint $2,547,197 $2,547,197 

Office of the Comptroller of the Currency $882,721 $220,680 $1,103,401 

Federal Reserve Bank $645,520 $645,520 

Reimbursable to the Federal Reserve Banks $176,799 $176,799 

Financial Agent Services $865,400 $865,400 

Total, Non-Appropriated Level $4,361,473 $263,535 $3,000 $1,729,873 $0 $6,357,881 

Grand Total $17,481,696 $334,785 $1,478,584 $3,728,989 $626,021 $23,650,075 

5/ The FY 2021 President's Budget assumes the transfer of U.S. Secret Service to Treasury in FY 2021.

4/ The FY 2021 budget includes a program integrity cap adjustment of $400 million (Enforcement $280 million, Operations Support $120 million).

1/ The overall request for Treasury's CFIUS costs is $35 million, which includes $15 million from the CFIUS Fund and $20 million from Departmental Offices Salaries and Expenses.

2/ Previously known as the Department-wide Systems and Capital Investments Program.

3/ The FY 2020 Enacted levels include $25M , available until expended, for Matured Unredeemed Debt. 

FY 2021 President’s Budget by Strategic Goal
 DO1 CFIUS2 TFI Cyber TCIMF3 OIG TIGTA SIGTARP CDFI FinCEN TTB FS4 USSS1

IRS Total

FY 2020 Enacted $228,373 $10,000 $169,712 $18,000 $6,118 $41,044 $170,250 $22,000 $262,000 $126,000 $119,600 $365,280 $2,415,845 $11,510,054 $15,464,276 

Maintaining Current Levels (MCLs) $5,472 $0 $3,983 $0 $0 $982 $4,354 $510 $641 $2,827 $2,748 $9,503 $74,701 $452,085 $557,806

Pay Annualization $1,023 $757 $237 $1,048 $117 $99 $380 $590 $1,666 $45,875 $67,757 $119,549

Pay Raise $998 $738 $231 $1,022 $115 $96 $390 $575 $1,625 $11,388 $66,080 $83,258

FERS Contribution Increase $1,100 $800 $304 $1,582 $141 $131 $524 $714 $1,901 $14,146 $100,000 $121,343 

Labor Adjustment $1,805 $162,904 $164,709 

Non-Pay $2,351 $1,688 $210 $702 $137 $315 $1,533 $869 $2,506 $3,292 $55,344 $68,947 

Non-Recurring Costs ($2,539) ($18,000) ($6,118) ($1,300) ($32,796) ($101,718) ($162,471)Efficiency Savings/Reinvestment ($1,246) ($2,716) ($9,876) ($143,795) ($157,633)Other Adjustment/Initiative Annualization $10,000 $900 ($55,660) ($44,760)

Adjustments to Base $4,226 $10,000 ($1,272) ($18,000) ($6,118) $982 $4,354 $510 $641 $1,527 $3,648 ($23,293) ($92,553) $308,290 $192,942

FY 2021 Base $232,599 $20,000 $168,440 $0 $0 $42,026 $174,604 $22,510 $262,641 $127,527 $123,248 $341,987 $2,323,292 $11,818,344 $15,657,218 

Program Decreases ($2,691) ($3,254) ($5,010) ($248,641) ($2,864) ($1,500) ($115,990) ($379,950)CFIUS User Fees ($20,000) ($20,000)Program Increases/Reinvestments $8,874 $4,311 $18,000 $13,500 $2,300 $4,089 $18,213 $153,236 $220,159 $442,682 

Subtotal, Program Changes $8,874 ($20,000) $4,311 $18,000 $13,500 ($2,691) ($3,254) ($5,010) ($248,641) ($564) $2,589 $18,213 $37,246 $220,159 $42,732 FY 2021 President's Budget funded from discretionary 

resources

$241,473 $0 $172,751 $18,000 $13,500 $39,335 $171,350 $17,500 $14,000 $126,963 $125,837 $360,200 $2,360,538 $12,038,503 $15,699,950 

Program Integrity Cap Adjustment $400,000 $400,000FY 2021 President's Budget including program integrity cap adjustment

$241,473 $0 $172,751 $18,000 $13,500 $39,335 $171,350 $17,500 $14,000 $126,963 $125,837 $360,200 $2,360,538 $12,438,503 $16,099,950 

Summary of FY 2021 Increases and Decreases

(Dollars in Thousands)

1/ The FY 2021 President's Budget assumes the transfer of U.S. Secret Service to Treasury in FY 2021. $1.5 million of the Treasury-wide Management and Programs request in 2021 is contingent on legislation enacting the transfer.2/ CFIUS Fund enacted levels are net appropriations including user fees.3/ Treasury Capital Investments and Modernization Fund (TCIMF) is formerly Department-wide Capital Systems Investment Programs (DSCIP).4/ FY 2020 non-recurring costs includes MUD adjustment; program increases include $10M for MUD .