TYRANNY:’Biden’s’ IRS and U.S. Treasury Seeks To Monitor Every Bank Account With Over $600 And Report It To The IRS

It’s important to point out the Democrat-criminal-media has given this unprecedented power grab and seizure of our privacy rights no media coverage.

Financial institutions would be responsible for reporting your withdrawals and deposits – breaking down physical cash, transactions with a foreign account and transfers to and from another account with the same owner. This would apply to all business and personal accounts with at least $600 in it.

The fraudulent regime means to gain access to all your financial data – knowing EVERYTHING about you, where you go, what you buy, who you see, everything you do.

Story continues below advertisement

es, under Biden’s proposal the IRS could have more access to your bank accounts

If you have at least $600 in your account, the IRS could end up monitoring your spending. It’s part of President Biden’s proposed tax reform and is raising concerns.
By: THV 11, Septermber 17, 2021:

LITTLE ROCK, Ark. — If you have at least $600 sitting in your bank account, the IRS could end up monitoring your spending. It’s part of President Joe Biden’s proposed tax reform and is raising questions about privacy.

A THV11 VERIFY viewer wrote in, asking: “After seeing some banks posting on social media that the IRS is going to start making them report all deposits and withdrawals over $600, can you tell me if this is true?”

Our sources — the U.S. Department of the Treasury, testimony from the IRS commissioner and Congressman Steve Womack.

At the end of April, President Joe Biden announced the American Families Plan. Included in the proposal – tax reform. In a testimony to the Senate finance committee on June 8, 2021, IRS Commissioner Charles Rettig –lays out what would be included in the plan. You can see here.

Financial institutions would be responsible for reporting your withdrawals and deposits – breaking down physical cash, transactions with a foreign account and transfers to and from another account with the same owner. This would apply to all business and personal accounts with at least $600 in it.

According to the testimony, the purpose of this plan would be to “…improve tax administration and provide the IRS with a blueprint to address various facets of the tax gap.”

The plan however has been met with major criticism. Arkansas Congressman Steve Womack joined other lawmakers in writing a letter expressing their concern with the data collection proposal saying, “The requirements of this proposal would impose significant compliance costs on our banks, credit unions, and related financial institutions, but also infringe on the privacy of millions of Americans.

The Truth Must be Told

Your contribution supports independent journalism

Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.

Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.

Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.

Please contribute here.

or

Make a monthly commitment to support The Geller Report – choose the option that suits you best.

Quick note: We cannot do this without your support. Fact. Our work is made possible by you and only you. We receive no grants, government handouts, or major funding. Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds. They are disappearing us. But we are here.

Subscribe to Geller Report newsletter here— it’s free and it’s essential NOW when informed decision making and opinion is essential to America's survival. Share our posts on your social channels and with your email contacts. Fight the great fight.

Follow Pamela Geller on Gettr. I am there. click here.

Follow Pamela Geller on
Trump's social media platform, Truth Social. It's open and free.

Remember, YOU make the work possible. If you can, please contribute to Geller Report.

Join The Conversation. Leave a Comment.

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spammy or unhelpful, click the - symbol under the comment to let us know. Thank you for partnering with us to maintain fruitful conversation.

If you would like to join the conversation, but don't have an account, you can sign up for one right here.

If you are having problems leaving a comment, it's likely because you are using an ad blocker, something that break ads, of course, but also breaks the comments section of our site. If you are using an ad blocker, and would like to share your thoughts, please disable your ad blocker. We look forward to seeing your comments below.

Sponsored
Geller Report
Thanks for sharing!