Ron Wyden: “What you described with the Mirabaud Bank is a very obvious breach of the law.”

The proposed rule is clear regulatory overreach that would have disastrous impacts for lawfully present immigrants and their families who are legally eligible for refundable tax credits.

This throws doubt upon Treasury’s interpretation of many provisions of the Code, creates a great deal of uncertainty in the administration of our tax laws, and could balloon the deficit.

These unsung heroes deserve recognition for their tireless efforts to keep our communities safe and healthy, and I’m honored to be leading this effort in Congress.

Turning the 1040 into an immigration tracker actively sabotages voluntary tax compliance and undermines the IRS’s core tax collection responsibilities.