Biden Administration Pushes Congress to Require Banks to Turn Account Info Over to IRS
Summary by Breitbart
The plan is for the IRS to sift through nearly all American bank accounts searching for undeclared income.
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Fox Business
Biden's tax plan could give IRS more access to your bank account
The Biden administration is aiming to bolster the Internal Revenue Service by adding bank account reporting requirements to Democrats' massive tax and spending bill, prompting a swift backlash from Republicans who have warned it infringes on customers' privacy.
We've long been used to the fact that banks and credit unions must report to the federal government any transactions greater than $10,000. This requirement goes back to 1970 when $10,000 was equivalent to around $70,000 today. &nb...
