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Yellen, IRS requires Democrats to require banks to report taxpayer annual account flows

Treasury Secretary Janet Yellen and Treasury Secretary Charles Rettig pressured lawmakers on Wednesday to provide the Internal Revenue Service with more information about taxpayers’ bank accounts as the Biden administration is trying to save the struggle. Proposal for tax compliance..

In a letter to lawmakers, executives return to parliament Require banks to report annual inflows and outflows A proposal aimed at making the IRS more effective in auditing from bank accounts that have transactions worth at least $ 600 or $ 600. According to the administration, it will generate about $ 460 billion over a decade to cover the Democratic Party’s planned expansion of the social safety net and climate change policy.

Yellen, IRS requires Democrats to require banks to report taxpayer annual account flows

Source link Yellen, IRS requires Democrats to require banks to report taxpayer annual account flows

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