Oppose broad bank account reporting to the IRS
What the document says“This massive increase in the scope and breadth of information reporting should be unequivocally opposed.”
The proposal in question would require reporting on business and personal accounts with more than $600, with banks collecting taxpayer identification numbers and filing a revised form for all affected payees.
What the document actually says“This massive increase in the scope and breadth of information reporting should be unequivocally opposed.”
One plan would report far more bank accounts. The book says fight it flat out.
A plan would have banks report many more accounts to the tax office. It would start at $600. The book is firmly against it.
No action is recorded against this proposal. That is not evidence that none has been taken. See what the tracker does not yet cover.