Anyone know much about this? I received a email from my bank stating the IRS will get access to any account transactions over $600? I'll pull my money. It's none of their business.
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This is a violation of the 4th amendment
They scared!
I found this on patriot edition news
Crapo tried to make an amendement to the massive bill to block the IRS from peering into your finances for money amounts all the way down to 600 bucks. It was defeated. Unless some one comes up with another way to derail this new IRS thing then its still on track becoming a thing. The "IRS thing" is in Biden's budget proposal
This is actually the first I've heard of it not sure why this doesn't have more attention unless I'm missing something. Letting the IRS see into financial transactions down to 600 bucks is in range of pretty much every ones mortgage payments and many peoples car payments.
Yeah, it's absolutely BS. I'll remove my money, make sure everything gets split many ways. I refuse to allow the IRS to see it and find so many ways to confiscate our money through more taxes camouflaged as tex the wealthiest people
That would be viewed as structuring and result in a prison sentence for your employer and seizure of his assets, as structuring is considered tax fraud. Much better off paying you in cash and "forgetting" to report it.