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Biden admin backs down on tracking bank accounts with over $600 annual transactions

ABC News
 2021-10-19

Cover picture for the articleThe Biden administration on Tuesday backed down on a controversial proposal to direct the IRS to collect additional data on every bank account that sees more than $600 in annual transactions, after widespread criticism from Republican lawmakers and banking industry representatives, who said the tax enforcement strategy represented a breach of...

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Comments / 25

Bass Face
10-19

Pretty soon they will confiscate all bank accounts and pensions and precious metals in the name of national security and to protect our freedoms.

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Jennifer Wilson
10-21

This is re wording. If you pay any bills online this would probably be you. Just think if you pay rent of only $500 a month that's $6,000 right there. I make less than $25,000 and I'm pretty sure I would qualify.

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4
dog with a blog...
10-20

because big money would go off shore and they don't monitor like you think I know...!

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8

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