Biden 2022 Budget Proposal: All business and personal back accounts having a $600 market value will have ALL inflow and outflow transactions reported to the IRS.
Current law: banks only report cash transactions of $10,000 or more.
Are you ok with the Federal Government having a full annual list of how much you spend at the supermarket? How much you tip your hair stylist? How much you spend at the gun shop?
Once the IRS has virtually all spending data of Americans - how easy it would be for data to be "hacked" and "leaked" and then "weaponized".
Good time to write to your US Senator and Congress Representative and state your position on this privacy grab.
Go to Page 94 of Biden Budget Proposal:http://bit.ly/3k2hJqZ