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Under Biden Plan, The IRS Would Know A Lot More About Your Bank Accounts
Forbes ^
| 4/28/2021
| Guinevere Moore
Posted on 05/03/2021 2:02:52 PM PDT by Oorang
Simply put, the American Families Plan calls for banks and other financial institutions to report more than just a taxpayer’s interest earned, capital gains and losses. Banks and other financial institutions would also be required to report “aggregate account outflows and inflows.” In other words, the IRS will know about all of your bank accounts, whether you earned income on that account or not, how much is in the account in a given year, and how much was transferred in and out of the account.
Excerpted per Free Republic rules.
(Excerpt) Read more at forbes.com ...
TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; Government
KEYWORDS: 2evil4words; 401k; april15; bidenvoters; communism; communist; communistic; fourthamendment; ira; irs; justdowhatyouretold; policestate; socialsecurity
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If this were to become reality how long before the IRS deems you have too much money in your bank account. Road to goverment confiscation?
1
posted on
05/03/2021 2:02:52 PM PDT
by
Oorang
All but Joseph Stolen’s accounts.
2
posted on
05/03/2021 2:04:06 PM PDT
by
Gene Eric
(Don't be a statist!)
To: Oorang
Taking control of every facet of our lives.
Constitution, Bill of Rights, etc., etc. be damned.
3
posted on
05/03/2021 2:04:39 PM PDT
by
cranked
To: KC_Lion
4
posted on
05/03/2021 2:06:09 PM PDT
by
Army Air Corps
(Four Fried Chickens and a Coke)
To: Oorang
Sure gonna make tabulating your tax bill easier for them.
5
posted on
05/03/2021 2:07:07 PM PDT
by
cableguymn
(We need a redneck in the white house.... But the fact checkers said the story was false!)
To: Oorang
I’d like to know a lot more about Hunter Biden’s bank account. Is that going to happen? No? Okay. Carry on.
6
posted on
05/03/2021 2:08:26 PM PDT
by
ClearCase_guy
("I see you did something -- why you so racist?")
To: Oorang
Will the IRS do anything about the billions in cash that are wired to Mexico every year?
7
posted on
05/03/2021 2:08:46 PM PDT
by
a fool in paradise
(Lean on Joe Biden to follow Donald Trump's example and donate his annual salary to charity. )
To: Oorang
It’s time to start dolling out money for the kids and grands to keep the account down I guess. What about stocks and bonds? Can you have to much in those......originally to keep the gooberment out of our lives by supporting ourselves as much as possible? What is the cutoff on both?
8
posted on
05/03/2021 2:11:02 PM PDT
by
Dawgreg
To: a fool in paradise
Nope, intended for Anglos in fly over country only.
9
posted on
05/03/2021 2:12:00 PM PDT
by
texas booster
(Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
To: Oorang
More government intrusion in our lives, just what we need.
10
posted on
05/03/2021 2:13:10 PM PDT
by
Graybeard58
(The China virus doesn't scare me, Venezuelaism does.)
To: Oorang
And they wonder why BitCoin is a thing.
11
posted on
05/03/2021 2:13:54 PM PDT
by
E. Pluribus Unum
(Anti-racism looks suspiciously like racism.)
To: Oorang
they’re not going to inventory the money under the mattress I hope.
To: ChronicMA
They’ll make cash illegal. The ol’ mattress stash will go POOF.
13
posted on
05/03/2021 2:17:27 PM PDT
by
ClearCase_guy
("I see you did something -- why you so racist?")
To: Oorang
The joke’s on them if the check out my bank account.
14
posted on
05/03/2021 2:17:52 PM PDT
by
VTenigma
(The Democrat party is the party of the mathematically challenged )
To: ChronicMA
To: E. Pluribus Unum
16
posted on
05/03/2021 2:20:26 PM PDT
by
GOP Poet
(Super cool you can change your tag line EVERYTIME you post!! :D. (Small things make me happy))
To: Oorang
Is anyone in this govt ever going to stand up against these tyrants?
17
posted on
05/03/2021 2:20:45 PM PDT
by
Bullish
(CNN is what happens when 8th graders run a cable network.)
To: Oorang
It’s obvious BuckFiden didn’t think of this.
Who had this idea on their wish list?
nobama
valjar
susan rice
other
18
posted on
05/03/2021 2:21:24 PM PDT
by
upchuck
(Corporations don’t pay taxes. They collect them. From us. ~ h/t Little Ray)
To: Oorang
> how long before the IRS deems you have too much money in your bank account.
This is all just a prelude to the “digital” dollar where the government can decide just how much your “store of value” is worth - by the minute if they want!
19
posted on
05/03/2021 2:22:34 PM PDT
by
glorgau
To: Oorang
20
posted on
05/03/2021 2:23:00 PM PDT
by
PMAS
(Vote with your wallets, there are 80 million of us - No Amazon, No Chy-Na made )
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