Biden Proposes IRS Monitor Annual Aggregate Inflows and Outflows of Bank Accounts Over $600 | CNSNews

Biden Proposes IRS Monitor Annual Aggregate Inflows and Outflows of Bank Accounts Over $600 | CNSNews: The Biden Administration is proposing that Congress enact legislation to require that financial institutions annually report to the Internal Revenue Service what Treasury Secretary Janet Yellen describes as the “aggregate inflows into the account during the year and the aggregate outflows” for all accounts that are worth at least $600 or that engage in at least $600-worth of transactions.