IRS would track all bank transactions over $600 under Biden plan; businesses revolt

**testsubjectalpha** · 09-21-2021, 02:10 AM

Except you are exempt Joe.

Biden Wants IRS to Snoop on Your Bank Accounts | Americans for Tax Reform (atr.org)

**FindersKeepers** · 09-21-2021, 03:27 AM

It's getting more intrusive by the day, almost.

I sure would like to know who's behind Biden with these ideas.

**DGUtley** · 09-21-2021, 03:44 AM

Big brother…..

**testsubjectalpha** · 09-21-2021, 03:50 AM

Joe Biden aint my brother.

Originally Posted by DGUtley

Big brother…..

**Peter1469** · 09-21-2021, 05:28 AM

It is a breach of privacy.

It will cost the banks a lot of money, which means it will cost us a lot of money.

How can the IRS manage all of this data? Especially with people who have more than just income and monthly spending (buying and selling stocks and moving cash from account to account). If this passes, which I hope it doesn't, we will soon find out that the IRS will screw it up bigly.

**JMWinPR** · 09-21-2021, 05:28 AM

Ben doin dat since the foist daze uv BHO Fraudulent Consumer Agency.

**countryboy** · 09-21-2021, 05:44 AM

Originally Posted by Peter1469

It is a breach of privacy.

It will cost the banks a lot of money, which means it will cost us a lot of money.

How can the IRS manage all of this data? Especially with people who have more than just income and monthly spending (buying and selling stocks and moving cash from account to account). If this passes, which I hope it doesn't, we will soon find out that the IRS will screw it up bigly.

I heard the last "covid" spending bill they recently passed, had a provision to hire an additional 87,000 IRS agents.

**FindersKeepers** · 09-21-2021, 05:55 AM

Originally Posted by Peter1469

It is a breach of privacy.

It will cost the banks a lot of money, which means it will cost us a lot of money.

How can the IRS manage all of this data? Especially with people who have more than just income and monthly spending (buying and selling stocks and moving cash from account to account). If this passes, which I hope it doesn't, we will soon find out that the IRS will screw it up bigly.

I agree. I transfer money between accounts frequently and is the IRS going to tally that as "income?"

I can (kind of) see why they track deposits over $10,000 but this is just ridiculous.

**Peter1469** · 09-21-2021, 06:01 AM

Originally Posted by countryboy

I heard the last "covid" spending bill they recently passed, had a provision to hire an additional 87,000 IRS agents.

Correct.

**Peter1469** · 09-21-2021, 06:02 AM

Originally Posted by FindersKeepers

I agree. I transfer money between accounts frequently and is the IRS going to tally that as "income?"

I can (kind of) see why they track deposits over $10,000 but this is just ridiculous.

That was part of the Patriot Act.

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