Biden has introduced a new proposal that mandates banks track and report any transaction over $600

Biden has introduced a new proposal that mandates banks track and report any transaction over $600 (currently set at 10k). He contends this will help bring in revenue, but this is all about control. This is not where the true money is when it comes to tax-evasion. A rep at my local credit union had no idea, and I asked her to tell her supervisors. I think this is very important for people to know.

https://www.americanbanker.com/news/banks-consumer-advocates-unite-against-tax-reporting-proposal

Revised:


https://www.activistpost.com/2021/10/after-backlash-over-600-irs-bank-surveillance-democrats-revise-proposal.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ActivistPost+%28Activist+Post%29