Sen. Cynthia Lummis Grills Treasury Secretary Yellen About Privacy Fears Over ‘Unconscionable’ IRS Bank Proposal

“My constituents cannot believe that you support a proposal to require banks and credit unions to report customer data to the [IRS] for transactions of $600 or more.” the Wyoming Republican tells Yellen,..

SOURCE: Sen. Cynthia Lummis Grills Treasury Secretary Yellen About Privacy Fears Over ‘Unconscionable’ IRS Bank Proposal

RELATED:

Proposed U.S. rule would force reporting of all accounts of $600 or more

Banks call IRS reporting plan a compliance and privacy nightmare. Is it?

“Biden’s Treasury Department declares IRS will monitor” all accounts over $600.


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