MarketWatch: Biden wants IRS to monitor people’s bank accounts more closely — will it catch tax cheats, or invade privacy?
October 12, 2021
Another concern on the $600 inflow/outflow reporting requirement also centers on privacy, and which money sources come under the microscope.
For example, it’s not clear if fintechs like Cash App would be covered by the rules, according to Alan Butler, executive director and president of the Electronic Privacy Information Center.
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