Joe Biden to make banks report anything over $600 to IRS!

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It would have prohibited President Joe Biden’s administration from requiring financial institutions to report all transactions on accounts with a balance of more than $600.

Donald Trump Says Biden Is Doing So Bad, Foreign Leaders Are Calling Him to Complain

“The IRS financial institution reporting requirement forces financial institutions to turn over detailed bank account information to the IRS based on vague and ‘flexible’ criteria, such as a $600 threshold and account inflows and outflows, which are determined by the IRS,” Crapo said in a statement.

“This time-draining burden disregards banking privacy in order to squeeze more resources out of responsible Americans and entrepreneurs,” he continued.


See also  Altman: Biden Is Effectively Nationalizing The Deposit Base Of The Entire U.S. Financial System.

h/t Patriot_King

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