Currently, your bank must report withdrawals of $10,000 or - more to the IRS.Under Biden's tax Posted: Sep 15th, 2021 - 1:26 pm In Reply to: $600 - Explain this please
agenda, 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. This type of monitoring would also scoop up Venmo and PayPal transactions.
The stated purpose of authoritarian monitoring is to close tax loopholes and catch tax dodgers. BUT Biden’s new tax plan essentially will monitor every one of your non-cash financial transactions and turning them over to the IRS.
LINK/URL: Currently, your bank must report withdrawals of $10,000 or
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