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CIRT Joins Large Coalition to Voice Opposition to IRS Intrusion into Bank Accounts

Fri, September 17, 2021 3:21 PM | Anonymous member (Administrator)

CIRT joined over 100 other organizations to voice strong opposition to a proposal to sweep-up banking information under the guise of addressing what is euphemistically called “tax gap” concerns (namely non-compliance). The provision is tucked into the massive Build Back Better Act, that seeks to require financial institutions to report to the IRS on transactions in business and personal accounts.

The group blasted the idea as: “Indiscriminate, blanket data collection [that] would amount to a troubling effort to profile American taxpayers based on account characteristics without grounds for suspicion of tax evasion. Such profiling is inappropriate in all law enforcement contexts.”  In other words, treat everyone like criminals, trampling rights and freedoms, in the search for evidence of a true wrong doer.

For more details SEE Joint Letter to Congress Opposing Consumer Financial Account Reporting.

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