My first thought was catching people working under the threshold for 1099 reporting; if I do 2 jobs at $300 each, there’s no 1099 issued. But now I presumably have a bank account that had $600 deposited.
I know people working ‘under the table’ take cash, but in this day and age of the gig economy, a lot of people use Paypal/Vimeo/Google Pay/Zelle to pay other people. We’re becoming a cashless society so the only way to catch activity is through account monitoring.
Anyway, that’s my thought since it’s using the IRS.
Good, then they’ll catch all the illegals that are working under the table!
/s
Those entities were also mentioned in the article I read earlier this week but cannot now find for reference here.
You are spot on regarding the gig economics aspect.
That’s what they are attempting to do. But they need to exclude people whose only source of income is a paycheck or retirement.