On the recordJune 15, 2021
the Biden administration has proposed having banks report to the IRS, both inflows and outflows, of business and personal accounts, which would be a significant new intrusion into taxpayers' lives.
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congress.govthe Biden administration has proposed having banks report to the IRS, both inflows and outflows, of business and personal accounts, which would be a significant new intrusion into taxpayers' lives.
Thune criticizes the Biden administration's proposal for increased IRS reporting requirements.
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We’ve had the vote on the full version twice now so the full version is five components.
We’re working with the stakeholder community and our members on both sides to figure out if that’s something we can execute on and get done," Thune said.