The abusive practices of BigBank (Chase, Wells, Citi, BoA) are growing every day. In contrast, small 'community' banks have been able to get along well with their customers, principally because they KNOW their customers.
IRS would like to know them too. Intimately!
...The proposal would require financial institutions to report information on customer bank accounts to the IRS. This would be an enormous burden on the community banks required to furnish this information and a breach of their customers’ privacy.
Specifically, the proposed fiscal 2022 budget would require banks and other financial institutions to report to the IRS on the deposits and withdrawals of all business and personal accounts with a balance of more than $600. ...
The correct response to IRS: "FOAD."
How would IRS, already several months behind on processing last year's tax returns, absorb and utilize all that information (and it is a crap-ton of info)?
President Joe Biden wants to hire 86,852 new IRS agents, which would more than double the agency’s workforce.In order to do that, Biden* will spend an extra EIGHTY BILLION DOLLARS/YEAR on IRS.
Remember that line in the Declaration: '...sent hither swarms of Officers to harrass our people, and eat out their substance.....'?
Get the muskets ready.
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