Will the IRS own your bank records?

Source: Downsize DC
by Jim Babka

“The so-called infrastructure bill represents trillions of dollars in vote-buying, influence peddling, tax-funded bribery, and crony capitalism. But that may not be the worst part. The really bad stuff is probably buried deep in the cracks of this 2,700-page bill. We’ve already exposed some of these scary details, such as new regulations for crypto-currencies, but there are bound to be more such things. Slowly but surely they are coming to light. For instance, banks already have to tell the IRS about any interest they pay you. That makes sense because interest payments are taxable. But … The infrastructure bill also will require banks to share all of your deposits and expenditures with the IRS.” (09/08/21)