As your community bank, we want our customers to know the facts, especially when it concerns developments around public policy that exposes your privacy.
The Biden administration has proposed requiring all community banks and other financial institutions to report to the IRS on all deposits and withdrawals through business and personal accounts worth more than $600 REGARDLESS OF TAX LIABILITY. This indiscriminate, bank account reporting to the IRS could soon be enacted in Congress and will create an UNACCEPTABLE INVASION OF PRIVACY TO OUR CUSTOMERS.
We work for our customers and our community, NOT THE IRS.
Join us in telling Congress that proposed IRS bank account profiling is intrusive, indiscriminate and UNACCEPTABLE for you our customers: icba.org
#KeepMyBankingPrivate Member FDIC
https://home.treasury .gov /system/files/131/GeneralExplanations-FY2022.pdf
(https://home. treasury .gov/ system/files/ 131/GeneralExplanations-FY2022. pdf) (page 88 or page 94 of the whole document)