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Biden's tax plan could give IRS more access to your bank account

Concerned American

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I think its worse than an overreach because it's allegedly being done for the purpose of "detecting and supporting suspicious activity that might signify money laundering, tax evasion or other criminal activity" under the Bank Secrecy Act.

So their reason for doing this is a pretext, also known as a lie, in my opinion because since when does earning and depositing a paycheck constitute "suspicious activity".
They've had these kind of laws on the books for some time--not necessarily implemented the same way. Deposits of over $10K have been subject for at least 20 years, probably more. I once bought an item at Sears on credit so I could take advantage of the 10% discount. A month later, I attempted to pay the balance of about $3500 at a store. I was told that they could only accept a payment of $2500 because of the same type of cockamamie banking laws.
 

MarathonMike

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pknopp That's hilarious, a Biden supporter calling the rest of us "gullible". :auiqs.jpg:
 

RodISHI

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Sounds to me like the government/legislators want to determine who has money enough in the bank to steal it from them. Can't keep up those high lifestyles with a nation of broke peeps so start checking bank accounts.
 

Concerned American

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Sounds to me like the government/legislators want to determine who has money enough in the bank to steal it from them. Can't keep up those high lifestyles with a nation of broke peeps so start checking bank accounts.
It is just an expansion of existing laws. As for the gov't having access to your bank account. They have done it for some time. Interest reports directly to the IRS. If you got a stimulus check, they deposited right into your account. If you get SS or a tax refund, they put it into your account and if the gov't can freeze the assets of a country, i.e. Iran, they don't have any problem with seizing yours either. Mox nix, much ado about nothing.
 

B. Kidd

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It is just an expansion of existing laws. As for the gov't having access to your bank account. They have done it for some time. Interest reports directly to the IRS. If you got a stimulus check, they deposited right into your account. If you get SS or a tax refund, they put it into your account and if the gov't can freeze the assets of a country, i.e. Iran, they don't have any problem with seizing yours either. Mox nix, much ado about nothing.

But a not too distant authoritarian Gov't could falsely deem you a domestic terrorist, disappear you, and clean out your account. They'll know ahead of time if it's worth it to do so!
 

Concerned American

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But a not too distant authoritarian Gov't could falsely deem you a domestic terrorist, disappear you, and clean out your account. They'll know ahead of time if it's worth it to do so!
They can do that now. Nothing has changed in that regard. They have been seizing assets and erasing people for at least 50 years.
 

Likkmee

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Biden never heard of it. That was a NAFTA thing decades ago when Joey was invadin Normas beach with,..... whasshiface. He was in the peace corps then...or navy... or some shit.Navy I think. He was a lifeguard
 

Hang on sloopy

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They've had these kind of laws on the books for some time--not necessarily implemented the same way. Deposits of over $10K have been subject for at least 20 years, probably more. I once bought an item at Sears on credit so I could take advantage of the 10% discount. A month later, I attempted to pay the balance of about $3500 at a store. I was told that they could only accept a payment of $2500 because of the same type of cockamamie banking laws.
In reality, they especially look at 9500-9999 knowing most are skirting
 

dblack

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This is why income tax is so problematic. The state can't implement it without grossly violating privacy.
 
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NewsVine_Mariyam

NewsVine_Mariyam

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Voting for Biden was SUCH a wonderful idea. Whatta ya say now? LOL
I always vote my conscious because I realize that governments always do what governments do, this is just the same shit, different day/party/president/era.

When I had the chance to vote for Trump or Hillary, I voted for neither.
When I had the chance to vote for Trump or Biden I made sure my vote would help keep Trump out of office.

So far so good :cool:
 
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NewsVine_Mariyam

NewsVine_Mariyam

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It's only a proposed law.

Congress hasn't voted on it yet.

Every year, there are thousands of proposed laws that never make it into law.

But I suppose you can get upset about it if you don't have anything else to be upset about.
I take it you've never had a conversation with the IRS?
 
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NewsVine_Mariyam

NewsVine_Mariyam

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