Biden Wants All Banks To Report Transactions To IRS

[Stevicus]

Just finally accepting the repetitive unproductivity.

Understandable. It's obvious we're never going to change each other's minds on this issue, but I see it more as a historical debate than a debate over contemporary U.S. politics.

 

[Kooky]

I suppose the government is assuming that you are going to try and hide their money from them.

Perhaps based on the known fact that a lot of wealthy people do hide enormous sums of money from their government.

 

[Twilight Hue]

Perhaps based on the known fact that a lot of wealthy people do hide enormous sums of money from their government.

All in South Dakota too.

Yep. The US is now a Swiss bank account haven for the elites of the world.

Mess with it and you die is my vibe.

 

[Revoltingest]

Perhaps based on the known fact that a lot of wealthy people do hide enormous sums of money from their government.

This particular increase of government surveillance of our
finances is aimed not at the wealthy, but at the rest of us.
The threshold of activity is only $600.
Ref Snopes...
Will Banks Have To Report All Transactions Over $600 to IRS Under Biden Plan?

Note also that this is an expansion of a long existing policy
of issuing IRS Form 1099 for various services a business
pays for. The threshold is also $600 for most contractor
services. It's even lower for health care & interest payments.
There are fines for making a mistake or failing to mail the
form to the recipient & the IRS.

 

[ecco]

Oh, you mean like a certain politician and his son?

Sons and daughter.

 

[Nakosis]

This particular increase of government surveillance of our
finances is aimed not at the wealthy, but at the rest of us.
The threshold of activity is only $600.
Ref Snopes...
Will Banks Have To Report All Transactions Over $600 to IRS Under Biden Plan?

Note also that this is an expansion of a long existing policy
of issuing IRS Form 1099 for various services a business
pays for. The threshold is also $600 for most contractor
services. It's even lower for health care & interest payments.
There are fines for making a mistake or failing to mail the
form to the recipient & the IRS.

Funny how people will defend an idea as long as their preferred party is running the show.

 

[Kooky]

Funny how people will defend an idea as long as their preferred party is running the show.

Are you talking about me?

 

[Nakosis]

Are you talking about me?

I've noticed this with a lot of news commentators.
You're not a news commentator are you, like on CNN or FOX?

 

[Revoltingest]

I've noticed this with a lot of news commentators.
You're not a news commentator are you, like on CNN or FOX?

I think he might be Sean Hannity.
I wonder why he's here slumming with us?

 

[Nakosis]

I think he might be Sean Hannity.
I wonder why he's here slumming with us?

Funny in that it was the same name that popped in my head.

 

[Revoltingest]

Funny in that it was the same name that popped in my head.

It's like we share one barin brian brain!

 

[Revoltingest]

In the news....
Democrats to scale back Treasury’s IRS bank reporting plan amid GOP uproar
Excerpted....
Senate Democrats on Tuesday will unveil a scaled-back version of a Biden administration proposal to crack down on wealthy tax cheats after conservative groups and the bank industry raised major privacy concerns, three people with knowledge of the coming announcement said.
Initially, the Department of Treasury and Senate Democrats had proposed requiring financial institutions to provide the Internal Revenue Service with additional information on bank accounts with more than $600 in annual deposits or withdrawals.


Yeah....the Democrats expected to catch a whole passel'o
wealthy tax cheats by surveilling people trafficking $600/year