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Ok - Confused

Posted: Oct 14th, 2021 - 7:02 am In Reply to: Banks will be required to report any transactions over - 600. The Biden plan will give IRS

Do you think they really care how much you spend on groceries, utilities or car repairs? Do you know how many millions of bank accounts are in existence? Most of our financial information gets reported now in some form, and there are already rules in place regarding transfer of funds. People who don’t report income are going to get flagged for audit. You can always keep your money in the freezer, under your mattress or buried in your back yard if you are concerned and/or have something to hide. We will just have to wait and see if this goes into effect, but I think some people might be exaggerating. What I’m reading doesn’t make any sense.


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