New Legislation to Require All Transactions of $600 Reported to IRS

If you make deposits or withdrawals of $600 dollars or more the those transactions will be required to be reported to the IRS by your bank.

So how do you feel about that?

https://www.forbes.com/sites/irswatch/2021/04/28/banks-will-be-required-to-report-account-balances-account-outflows-and-inflows-to-irs-under-new-biden-plan/?sh=c6f3e812bfca

Are you feeling the stranglehold’s of Tyranny upon your throat yet?

Get the Jab, report all transactions, have a passport!

Please Take Action! Inform all your friends and neighbors, inform your city council and better business affiliates.

ACTION CENTER LINK: https://icba.quorum.us

As your community bank, we want our customers to know the facts, especially when it relates to concerning developments around public policy that exposes your financial privacy.The Biden administration has proposed requiring all community banks and other financial institutions to report to the IRS on all deposits and withdrawals through business and personal accounts worth more than $600 regardless of tax liability. This indiscriminate, comprehensive bank account reporting to the IRS can soon be enacted in Congress and will create an unacceptable invasion of privacy for our customers.We work for our customers and our community, not the IRS. Join us in telling Congress that proposed IRS bank account profiling is intrusive and indiscriminate for our customers:

https://www.icba.org/…/resources-to-help-you-fight-irs…https://www.icba.org/bank-locally/consumer-alert-from-icba#KeepMyBankingPrivate Member FDIC

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