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Yellen, IRS demands Democrats request banks to report annual account flow

Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig pressured the Internal Revenue Service on Wednesday to provide more information about taxpayers’ bank accounts.

In a letter to lawmakers, authorities again requested Congress to report annual inflows and outflows from bank accounts in transactions worth at least $ 600 or $ 600. This is a proposal aimed at making the IRS more effective in targeting audits. 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 demands Democrats request banks to report annual account flow

Source link Yellen, IRS demands Democrats request banks to report annual account flow

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