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Fury as Biden tries to let IRS SNOOP on your bank accounts - (Uncle Sam wants to spy on your

Posted: Sep 15th, 2021 - 6:16 am

bank account, the irs will hire 87,000 agents to scrutinize every financial transaction coming from a bank account with at least $600 of inflows or outflows annually. Such monitoring would also scoop up Venmo and PayPal transactions).

One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor gross inflows and outflows from an individual's bank account.

The Biden administration says such surveillance would target audits and prevent tax evasion, but some are concerned that it might run up against the Fourth Amendment and those who can't afford to fight tax audits or move their money into offshore accounts.

The proposal would require banks to report to gross inflows and outflows to the IRS, including transactions from Venmo, PayPal, crypto exchanges and the like in an effort to fight tax evasion.

The IRS would know how much money is in an individual's bank account in a given year, whether the individual earned income on that account and exactly how much was going in an and out.

Biden, Treasury Secretary Janet Yellen, IRS chief Charles Rettig and a number of Democrats in the Senate, most especially Elizabeth Warren, are pushing for the deep dive into individual financial transactions as part of an $80 billion plan to enforce tax compliance.

Patrick Hedger, vice president of policy at the Taxpayers' Protection Alliance, warned that such a proposal could violate the Fourth Amendment, which protects citizens from search and seizure without probably cause.

LINK/URL: Fury as Biden tries to let IRS SNOOP on your bank accounts

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Fury as Biden tries to let IRS SNOOP on your bank accounts - (Uncle Sam wants to spy on your (Views: 451, 2021-09-15, 6:16 am)
- Many overseas financial institutions and health insurance - companies already have a policy of “No Americans (Views: 231, 2021-09-15, 6:18 am)
  - Now Biden wants to hire 87,000 IRS agents to surveil - people’s purchases. He wants to use (Views: 224, 2021-09-15, 1:14 pm)
  - I live on $1222 a month Soc Sec....What the hell do - they think they are doing????? (Views: 252, 2021-09-15, 3:41 pm)
- Democrats are also planning higher business taxes - than China. If you have a 401K (Views: 253, 2021-09-15, 6:39 am)
  - Democrats are also planning to raise taxes on natural - gas. All these taxes with inflation... (Views: 246, 2021-09-15, 6:44 am)
- $600 - Explain this please (Views: 288, 2021-09-15, 8:04 am)
  - I think your second sentence explains it - sm (Views: 277, 2021-09-15, 8:11 am)
  - You could be right - Doesn’t make sense (Views: 279, 2021-09-15, 9:08 am)
  - Currently, your bank must report withdrawals of $10,000 or - more to the IRS.Under Biden's tax (Views: 257, 2021-09-15, 1:26 pm)
- This started under Obama. Tax revenue is NOT the REAL - reason the Biden administration is pushing (Views: 255, 2021-09-15, 12:47 pm)
- This is a horrible thing and must be stopped. You know - this will be abused. I transfer money (Views: 230, 2021-09-15, 12:54 pm)
- BIDEN wants to know where OUR money is coming from? - First, let's find out all the facts about our (Views: 249, 2021-09-15, 3:19 pm)
  - Looking who is supporting this massive invasion of - privacy. About the only thing (Views: 278, 2021-09-15, 3:38 pm)
- YEAH, AND YOU STILL HAVE THE BOARD COMMUNISTS - DEFENDING THIS SQUATTER (Views: 234, 2021-09-15, 4:02 pm)
  - Biden is so "solid" that someone in the WH is cutting - off his mike in mid sentence when (Views: 230, 2021-09-16, 5:19 am)
    - The saddest part of all is the Board Communists that - still support Grandpa WormHead (Views: 213, 2021-09-16, 10:42 am)
- Not only that, Biden administration is taking control of - monoclonal antibody drugs in (Views: 212, 2021-09-15, 4:12 pm)
  - It is one thing to demand people take the mRNA gene - therapy (aka “vaccine”). It is another (Views: 263, 2021-09-15, 4:14 pm)
    - SHOWS YOU THE DEGREE THAT THESE COMMUNISTS - WANT TO CONTROL YOU OR KILL YOU (Views: 238, 2021-09-15, 4:25 pm)
      - And now they have a guy in the WH that has a hard - time remembering which ice (Views: 212, 2021-09-15, 4:42 pm)
        All you need to is look at the board truth-deniers that - think Biden is solid and think (Views: 223, 2021-09-15, 5:25 pm)
        The topic is more than banking. The topic is control. - Finances, banking, etc. All you had (Views: 242, 2021-09-16, 4:57 am)
        You are responding to the wrong poster. I was defending - the poster's post saying exactly what you (Views: 201, 2021-09-16, 10:43 am)
        I know, I apologize. I think I responded in kind about - posting in the wrong place. See (Views: 203, 2021-09-16, 1:18 pm)
        No problem. You and me both. A full pot is the fuel I - need. I figured that happened. (Views: 201, 2021-09-16, 2:30 pm)
        Sorry. I was responding to the post below yours about the - topic being banking. I get the (Views: 208, 2021-09-16, 5:02 am)
    - I thought the topic was banking - More confusing (Views: 223, 2021-09-15, 6:18 pm)
      - People can post what they want. No one has to - follow your rules because you cannot follow a thre (Views: 232, 2021-09-15, 6:25 pm)
        Following a thread - More confusing (Views: 209, 2021-09-16, 8:25 am)
        No, you cannot follow a thread. In your hubris and - obnoxious comments, YOU forgot (Views: 247, 2021-09-16, 10:46 am)
        Solid and amazing job - never (Views: 201, 2021-09-16, 2:57 pm)
        AGree 75+ million times. They only ones supporting - Grandpa WormHead are those (Views: 210, 2021-09-16, 5:32 pm)