Whoever writes these articles keeps getting this wrong.
It is for every bank account over $600.
Not every transaction.
Oh, it’s transactions, balances and more:
Under Biden Plan, The IRS Would Know A Lot More About …
https://www.forbes.com/sites/irswatch/2021/04/28/...
Apr 28, 2021 · The American Families Plan would require banks to report balances, inflows and outflows to the IRS.
Well, I’m in deep doo doo. Time to buy some extra mattresses.