Quote:
Originally Posted by wdmso
Wow nice rant Q THANKS!
Deposits or withdrawalsOver $10,000
Are reported not 600
Please get informed
Posted from my iPhone/Mobile device
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it's coming...apparently you are not informed
Yes, under Biden's proposal the IRS could have more access to your bank accounts
If you have at least $600 in your account, the IRS could end up monitoring your spending. It’s part of President Biden's proposed tax reform and is raising concerns.
NBC IRS would track all bank transactions over $600 under Biden plan
by Kenneth McGrathTuesday, September 28th 2021
MOBILE COUNTY, Ala. (WPMI) —
The administration wants the Internal Revenue Service to monitor every transaction you make of $600 or more, that’s a big change from the current 10,000 threshold. Meanwhile, Bloomberg.com reports that House Ways & Means Chairman Richard Neal said he and other democratic leaders are planning to set a threshold higher than the $600 proposed by the Biden administration.