21 House Democrats Ask to Cut IRS Bank Reporting From Biden’s Spending Package-US News | The Epoch Times

A group of 21 House Democrats on Wednesday urged House Speaker Nancy Pelosi (D-Calif.) to remove a controversial IRS bank reporting provision from the reconciliation bill. The measure, which has already been pared back once, would require banks to hand over data to the Internal Revenue Service for all accounts with annual outflows totaling more than $10,000. “While the intent of this proposal is to ensure all taxpayers meet their obligations—a goal we strongly share—the data that would be turned over to the IRS is overly broad and raises significant privacy concerns,” the Democrats, including Rep. Jose Luis Correa (D-Calif.) and Rep. Cynthia Axne (D-Iowa), wrote in a letter (pdf) to Pelosi and House Ways and Means Committee Chairman Richard Neal (D-Mass.) “We have little information about how the IRS plans to protect or use this massive trove of data. Americans expect their bank or credit union to safeguard their financial …

Leave a Reply

Your email address will not be published.

Next Post

Packers WR depth chart: Randall Cobb, Malik Taylor top WRs with Davante Adams, Allen Lazard on COVID list-Jacob Camenker

Thu Oct 28 , 2021
The Packers are going to have some unfamiliar players at the receiver position when they take on the Cardinals Thursday night. The Packers are going to have some unfamiliar players at the receiver position when they take on the Cardinals Thursday night.   

Chief Editor

Johny Watshon

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur

Quick Links

Newsletter Signup

Sign up now and never miss a thing!

You're Signed Up!

Now that you are signed up, we will send you exclusive offers periodically.