I'd like some mean tweets about now

From my understanding they already do, however the amount is $900 vs 600.

I’m getting sick of not winning.

I'm pretty sure based on past audits, the irs looks at a lot of bank accounts every day.

In the commie green new deal “infrastructure” bill, they want to add upwards of 100k new tax agents.

We’ll that makes it okay.

I'm all for it it'll help us win the War on Drugs .

If any government person ever asks me why I withdraw $1k a day from the bank... I will look them straight in the eye and tell them "I DO NOT TRUST THE GOVERNMENT IN THE SLIGHTEST.. nor do the men I do business with... and you can write that down."

If a hollywood movie producer can write off a Ferrari that he puts in a movie scene for 10 seconds... I damn sure can write off hookers and blow.

I bet it would be very interesting to see a forensic accounting of every payment made to the Biden Crime Family and their “proxies” in the last 10 or so years. 10% to the “Big Guy” probably added up fast.

Awesome, lol.

I won’t never have to worry about this issue I’m always broke!

DON'T BLAME ME. I VOTED FOR TRUMP

I believe the IRS has always monitored our bank accounts. If you think they don't have access to your paycheck and bank accounts don't pay all your income taxes. A friend of mine got a paycheck with all zeros on it one time. That's how he found out he owed IRS a lot of money. HIs wife sold her small business but didn't pay all her taxes.

I blame you. YOU DIDNT VOTE ENOUGH.

They will laugh their asses off monitoring mine.

"Check it out! The dumbass went overdrawn at Dairy Queen again!"

They could be stepping in a big trap for that reason.

The old threshold was 10 k

$3000 iirc.

Don’t worry, if you make less than 400k, you won’t pay a dime more. Joey promised.

Get this. Deep State Janet Yellen says this is to go after the "rich" tax cheats.

Just an accident it will also expose cheapskate dimocrap pushers.

Well, no change here. Those jack-booted government thugs at the IRS are always all over me like white on rice.

Damn those church tithes.

Laffin

🦫

They have started monitoring any transaction over $600.

It's been awhile since I worked with Federal Agents (not IRS) but when they wanted bank records on a company, they had to subpoena them. I don't think an IRS Agent can just get on a computer and look at your records, I could be wrong.

People are just going to stop using banks.

This^^^^^
Not everyone, but many will.

Not yet.

Right now, it's just a Biden proposal.

Doesn't mean they won't pass it. Who will stop them?


Tax the rich, my ass.

There no longer seems to be any restraints on government. If they can't do it one way they just get it done another way. All these things appear to be intentional to further an agenda. The USPS charging more and taking longer to deliver mail is intended to make people utilize other methods. Maybe because emails and online services are easier to monitor. Allowing the IRS to track transactions over six hundred dollars is being proposed and will happen for a reason.
I know this is not very reliable but a friend told me an insurance agent said federal law enforcement approached the company requesting serial numbers and description of firearms from the insurance riders. Insurance company refused. LE came back with a warrant and got what they wanted.
I am not smart enough to connect all the dots but it is apparent there is a plan to fundamentally change our nation and it doesn't include returning to constitutional government. The vision of a world without borders is becoming real!

This is what happens in communist countries.

I'm sure it's just a coincidence that it's happening in America. <cough cough>

This is a bad idea and deserves a lot of push back. A LOT

The only time they will see more then $600 come out of my account is for house payment and high dollar ass insurance.

Credit Unions are still your friend, at least until the regulations change & they come under the same controls as banks.

MM

I had the IRS send me a copy of my bank statement out of the blue. Wasn’t audited, had nothing to do with taxes that I know of, no explanation at all. Was during the obama years. And the envelope was hand addressed. Weird.

After 22 years at USBank they called me about April and said they had my account under investigation since August and wanted me to answer some questions about transactions for the report they were filing. My wife and I had sold some investments and I had sold some hunting stuff and optics I don't use anymore. All was legitimate and luckily I had reported my investment sales on my taxes.

It all started when I cashed a check for $1200 from a friend locally that bought a bunch of reloading stuff he needed from me. The teller thought it was suspicious that I cashed the check and reported it. I told the investigator if they had questions they should just call and ask me instead of putting me under secret investigation for 8 months. I asked if they worked for me the customer or the feds and they said that the feds make them do it. I said all transactions were well under $10,000 so I know they chose to investigate me when they could have just called.

I know the teller was pissed because she asked what the check was for and I said $1200. She then said I had to tell her why the guy paid me and what it was for. I told her I didn't need to tell her anything. That was last year August which is when the investigation started. I have now started an account at local smaller idaho bank. I keep just a little going to US Bank to keep the account open to access my records but it's not enough for them to make anything. They pay me $100 a quarter in rewards so I cost them now.

This country feels more and more like nazi Germany where everyone is ordered to turn in anyone they might think is suspicious. Karen at the bank was on a power trip. Another $8/hr worker trying to stick it to the guy with some cash in savings. She had to show me she was in charge.

The dems don't care because they never get prosecuted for anything anymore. The laws are only applied to the conservatives and they usually nail them for whatever they can find for political reasons. All the banks go into high alert if anyone wants to carry some cash anymore. I've always preferred cash but now it makes you look like a criminal.

Bb

As of right now,

"The U.S. Department of the Treasury, not the IRS, requires banks to report deposits and withdrawals of $10,000 or more from any savings account. Transactions of less than $2,000 don't typically trigger reporting. If you take out more than that, and if you behave in such a way as to "alarm" bank personnel – for example, you bribe the teller or admit to a crime – the transaction will be reported. Otherwise, it's doubtful that you'll have any problem, especially if your transaction is similar to others you've made in the past. If you're depositing or withdrawing $10,000 or more in cash – regardless of whether you behave suspiciously – this will typically also be reported. Multiple withdrawals totaling $10,000 or more also requiring reporting if they occur on the same day. Financial institutions must report the purchase of traveler's checks or money orders as well if you use cash to purchase more than $3,000 worth."

I do not believe this will change. Even Dem's know how much this will hurt them.

I could see myself joining a movement of like minded people who withdraw $605.00 on one day and deposit $605.00 the next. Rinse/repeat.

I am 100% sure they don monitor Obama's bank account.

Will termites eat paper money?

If I buy a Rifle lets say in 2019 for 2000 and sell it for 1900 in 2021 why should I pay tax on a loss or even report something like this? It's a loss.

It would seem that this would be a violation of that pesky little 4th amendment. But then, when has the Bill of Rights ever stopped this gov’t?

These things never end up being used for the proclaimed original purpose. Government has no business in your banking records or your business unless you are indicted for a serious crime. I don't think it is right to have banks report any transactions deposit or withdrawal of any amount cash , check , credit , debit or any other form of legal moneys. 10k is peanuts in todays world and $600 is pocket change.

YEPP!

Each day and Every day.

Might even set up accounts at a whole bunch of banks... and do it daily... out of shear principle... and then write off the mileage.

This along with Biden's plan to throw $80 billion to expand IRS enforcement - what could possibly go wrong.

This is sort of entertaining as democrats always believed their party only attacks rich conservatives.

It is IMPOSSIBLE to tax the rich... that is the part that no democrat ever gets...

Let's say I am the CEO of Walmart... and you hammer me and my Board on taxes... OK... I raise the price of bread by a dime and meat by a quarter.

No hit to me, but the minion shoppers get hit with the tax.

Yep. At the end of the day, America's Middle Class foots the bill.

No matter how you explain that, a liberal can’t grasp it. I have tried a hundred times, goes over their head every time.

And it won't stop them now & SCOTUS will either not hear the case, or simply dismiss it when it does eventually come up, by which time the practice will have gone on for a very long time.

MM

Right. The $1,900.00 of course is not taxable since it's not income. Income is profit on sales, and your salary. Selling personal possessions for about what you paid or less doesn't need reporting.

They are already monitoring our accounts. They just want to make it legal so they can act on it. Good attorneys do not ask a question that they do not already know the answer to...

If I get 5 million from the Chinese Gov’t for being on a Board seat and give 10% to “The Big Guy”, how does that get reported?

Same as if he sells art(use the term loosely) for 50 million to a private buyer .

There is already some talk of changing the amount to $10,000 but that amount is total inflow and outflow for a tax year. Just another left wing ploy to audit anyone they choose. I read the proposal and it’s truly chilling…

The ignorance of the general population is staggering.

I am not so certain that it is "ignorance, per se" versus "apathy". There is a difference between "don't know" versus "don't know and don't care..."