In May, the Fed introduced a bank filing requirement requesting that banks report our total banking inflows and outlays to the IRS. Congress needs to send this intrusive measure to the trash bin.
Having conducted forensic audits, the government is requesting the banks to do its dirty work. The Internal Revenue Code allows the government to tax unexplained bank deposits as income.
Imagine as a taxpayer having to identify bank deposits from two years ago. This gets even harder when your family has multiple accounts or even worse if you own a business. Just the transfers alone between bank accounts is an unheeded nightmare.
Don't buy into the BS that the IRS will only audit those whose income exceeds $400k. They'll be issuing correspondence letters to us mandating an explanation on bank variances. No thank you.
If the Feds wants to help our seniors, increase the interest rate on CD's, money market and savings açcounts.
0
To remove first post, remove entire topic.
In May, the Fed introduced a bank filing requirement requesting that banks report our total banking inflows and outlays to the IRS. Congress needs to send this intrusive measure to the trash bin.
Having conducted forensic audits, the government is requesting the banks to do its dirty work. The Internal Revenue Code allows the government to tax unexplained bank deposits as income.
Imagine as a taxpayer having to identify bank deposits from two years ago. This gets even harder when your family has multiple accounts or even worse if you own a business. Just the transfers alone between bank accounts is an unheeded nightmare.
Don't buy into the BS that the IRS will only audit those whose income exceeds $400k. They'll be issuing correspondence letters to us mandating an explanation on bank variances. No thank you.
If the Feds wants to help our seniors, increase the interest rate on CD's, money market and savings açcounts.
If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on
this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide
any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in
your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner
of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.
Hot Forum Topics
