[antidemoncrat]

“If passed, the rule would require financial institutions to report the cash flows of every account with more than $600 in deposits or transactions.”

So is this another cost that the taxpayers will have to shoulder or is the government going to pay the banks for their cost of reporting all of this?

[hanamizu]

“If passed, the rule would require financial institutions to report the cash flows of every account with more than $600 in deposits or transactions.”
So is this another cost that the taxpayers will have to shoulder or is the government going to pay the banks for their cost of reporting all of this?

---

Of course the government isn’t going to pay them to report. They are going to require them to report. Kind of like how SF expects In-N-Out to enforce their vaccine ‘mandate’.

Between the expense of basically reporting all transactions, and customers pulling their money out of banks to avoid IRS invasion of privacy, this will break a lot of them—which might be part of the plan.

My local bank has a notice when you access their website about this, asking us to contact our lawmakers about it.

The government of late has taken the attitude that Americans should do as they are told. That isn’t really an American trait.

[seowulf]

So is this another cost that the taxpayers will have to shoulder or is the government going to pay the banks for their cost of reporting all of this?

Haven't you heard? Joe says it's all free...$0.