Bank account reporting

https://www.google.com/amp/s/www.fo...inflows-to-irs-under-new-biden-plan/amp/

I have been seeing things about this for a few days and was hoping it was fake news, but coming from forbs it probably has some validity.

On the plus side, it seems as though the banks are against it.

Banks don't want it because they have to do the work.

At one time there was talk of a 1% transaction fee. This maybe a test run for it?

This will eliminate in their mind, under the table work and quick cash jobs. Then. All money movements can be and are tracked.

Sound like the foundation for the, "First Bank of the United States”?



Owl

People should pay their fair share according to the laws. If we don't like the law, then elect someone that will change the law we don't like.

Not going to happen. Anyone with a brain knows it.

Banks don’t want it because it’s bad for business. Less money will flow to the banks, you can count on that and banks know it.

Example-At the grain elevator trucks routinely pull in overloaded, some ridiculously so. I’ve seen it with my own eyes and been over loaded myself. State transportation bureau wanted the elevator to start reporting violations. Elevator straight told them to pound sand. That’s how you chase business away. Banks should fight this tooth and nail.

Define FAIR

Tax cheats are identical to welfare scammers.

Theyve been taking more than a fair share for decades now.

Mike

The only thing I use a bank for is to put some cash in now and then to make online purchases. Most of my money never sees a bank

That’s absurd. The former are at least earning a taxable income and in some way adding to the economy. While the latter are simply a parasite living off government and not contributing anything. Not condoning not paying your taxes but to say they’re identical is off.

They both rip off the honest man(the taxpayer).The honest mans taxes are raised to cover the cheaters at both ends.Both have their hands in the honest mans pocket-identical scum.

Unlike our Canadian lapdog neighbors the United States was founded by tax cheats.

NO ONE I MEAN NOONE has never cheated on their taxes. Think about it. Didn't say fed income tax I mean taxes. Property sales, or any type of tax

I am sure you pay taxes on every dime you bring in don't you Bozo? Every hat or pair of mittens you trade or barter? What a joke. LLL

I know not of what you speak.

Define fair share.

That how they do it up there?

Your bank will already report you if they think something is suspicious. It is called a SAR. The IRS requires financial institutions to complete Suspicious Activity Reports on unusual transactions involving $2,000 or more. Using their best judgment, employees must complete a SAR when they suspect a cash deposit is related to illegal activity, is designed to avoid CTR reporting or if it serves no apparent lawful purpose. The person completing the SAR must do so without mentioning it to the customer. The SAR contains details such as the names of the parties involved in the transaction and the behaviors or actions that aroused suspicion.

Seems to me there is a good chance of a law like this butting heads with the "unreasonable searches" of the fourth amendment an maybe the free speech clause of the first amendment.

If 'money' is property........( I believe it is, since it is used in definitions of "property crimes" ) ...............and if SCOTUS has said money equals speech............which they have......then it seems to me that the federal government can control or at least influence your speech by threats against your property ( money)


The 4th amendment requires warrants and probable cause to 'search'. It seems to me that Biden wants congress to provide a blanket search warrant by statute for federal use in all instances at all times.........without showing probable cause in EACH instance.


Blaine/James ??????

The Dems have never met an amendment they didn't want to violate.

Every single cent.
BUT-I also minimize my tax liability with generous charitable donations every year.

Taxation is theft. Pure and simple. The only reason I pay every thing I owe is because I don't want to be put in a cage.

Hogwash.Taxes are what the people pay to keep government running.No one is going to represent you for free.Lots of people today think they should get everything for free-thats the problem.

I would voluntarily pay for many of the services the State provides but many I would not.

Lot's of people think they can provide for themselves.

I think the feds just want the info for a "Citizens Surcharge" to pay for all the Covid give away's.

Your being tracked already just sign up for Social Security and you will be shocked at the questions they will be asking you then, person info they have on file I’m not sure for what reason they need it.

No you wouldnt-you already said the only reason you pay your debts(what you owe) is because you are scared to go to jail.

I didn't see anyone in this thread claiming they could

Taxation is necessary to make the senators and representatives and friends millionaires.

My remark was targeted to Boco, you happened to post before I did.

Government overreach is why I gravitate to crypto and PMs.

Fiat currency is what makes that possible.

That is the dumbest proposal I've heard of yet. Irs reporting of cash inflows and outflows over $600.
We already report our income, now they have to report what folks do with their income?
Made a house payment, bought a couple guns, paid a kids youth sports fees, who cares??
Jim

You can sign those rights over when opening the account or updating the use agreement.

Good/interesting argument though.

That would be extortion then....

I think you answered your own question.

You're not following... I'm saying if the State didn't exist I would voluntarily pay for a many of the services the State currently provides. Those services would be provided by private companies/organizations.

To call taxation a "debt", as in its in some way something I signed up for, is disgusting.

We call this virtue signaling down here. It is what the liberals do. (Bad)

“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” – 2 Corinthians 9:7 (Good)

“Beware of practicing your righteousness before other people in order to be seen by them, for then you will have no reward from your Father who is in heaven. “Thus, when you give to the needy, sound no trumpet before you, as the hypocrites do in the synagogues and in the streets, that they may be praised by others. Truly, I say to you, they have received their reward. But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret. And your Father who sees in secret will reward you. Mathew 6:1-4 (Good and Bad)

Tax cheats made there money and want to hold on to it. Welfare cheats made and contributed nothing they take others resources.

Some how I'm not suprised I have to tell you this. I'm also not suprised that I'm wasting my time doing so.

Using services(govt representation) and not paying for them is theft exactly the same as a welfare scammer.
I'm not surprised I have to tell you this

“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” – 2 Corinthians 9:7 (Good




Thats me allright.

Preach on,LLL,Your as phony as Jim Baker(phony crook using the bible to scam people)
I can read you like a book,and so do lots of others from what I hear.

I see you skipped over the plank to pat yourself on the back. My words won't convict you but yours will. Bragging about what you give to the needy so you can write it off on your taxes is not what scripture means by a cheerful giver. "Surely I tell you you have got your reward". LLL

Here it is again... “Beware of practicing your righteousness before other people in order to be seen by them, for then you will have no reward from your Father who is in heaven. “Thus, when you give to the needy, sound no trumpet before you, as the hypocrites do in the synagogues and in the streets, that they may be praised by others. Truly, I say to you, they have received their reward. But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret. And your Father who sees in secret will reward you. Mathew 6:1-4

Nothing fishy about minimizing your tax liability-just smart buisness.And 100% legal,moral and ethical to boot.
I see a few probable tax cheaters got smoked out with this thread,lol Probably the reason you are addled.
Maybe you can scam some cash like your idol preacher Jim Baker-start up a theme park-you can call it coonland and smear coon grease on peoples foreheads and cure them,lol.

I am not a criminal defense lawyer or a banking lawyer but I bet the feds can wire around the 4th Amendment. Banks are highly regulated and have all kinds of reporting requirements. Banks already must report large cash deposits presumably to combat money laundering and tax fraud. I have not researched the issue but I would be shocked if the current cash reporting requirement has not been challenged and upheld.

This is a bit different but the same rationale would likely be applied by a court.

say hello to the coming age of digital $, and only digital $. Learn to barter..

I really don't know who Jim Baker is. I thought he was the secretary of the Treasury under Reagan but maybe not. I do see you deflecting from the original thing I told you as you self gratified your tax write offs as if you were doing good.

Virtue signaling is disgusting. LLL

Total gibberish. Just exactly what " services " am I obligated to pay for? Whatever new Dept. the government decides is needed to employ more government workers?" Services" does not equal representation. The vast majority of taxes is outright theft. Get rid of payroll tax deductions and make people write out a check quarterly and see what happens.

You think your representative is going to work for you for nothing?
You would probably like to get people to work for you for free though,I can see.You are afflicted with the entitlement attitude.

The IRS already has access to every 1099 and 1098 that is recorded for payments and interest etc. Not much of a stretch for someone to extrapolate out the balances when interest rates are known, it is simple division. The banks already have the ledgers and if audits are required then access to those or your copies will be part of that as well. Many like to do cash to avoid taxes and when the IRS decides an audit is required or desired cash gets a lot easier to track down then many think it to be. Currently there seems to be a general tolerance for a lot of unreported income and if that ever changes then the IRS has to make a huge decision to treat the case as neglect and pay fines and tax or fraud which takes on a whole different mode. A lot of the reason that more investigation into tax fraud is not done is it is a very, very unpopular action with the society. With more and more transactions being done with cards instead of cash the issue is going away slowly.

Bryce

Jim Baker is one of dozens of phony preachers who pretends to be religious.Like you.
You can use all the new yuppie buzz words you like,means nought to me.Virtue signalling? what the he-- does that mean?
And what does it have to do with Taxes?

Virtue signaling is actually in a modern dictionary . Virtue signaling- the public expression of opinions or sentiments intended to demonstrate one's good character or social conscience or the moral correctness of one's position on a particular issue.

Here is the biblical definition as I have gave you now three times. They both have your picture for an example. “Beware of practicing your righteousness before other people in order to be seen by them, for then you will have no reward from your Father who is in heaven. “Thus, when you give to the needy, sound no trumpet before you, as the hypocrites do in the synagogues and in the streets, that they may be praised by others. Truly, I say to you, they have received their reward. But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret. And your Father who sees in secret will reward you. Mathew 6:1-4

Something like a mark or chip, maybe?

So if I decline to use any form of service then can I get my money back?

Declining to use services available to you or anyone is always an option. In a democracy however where laws are passed be they laws you like or don't like does not allow you to receive monies for not using services.
There are actually many cases where individuals, families, firms etc. do not use available services. We could see quite a bit more of that with the outflow for the COVID monies taking a long time to be released. Some of this won't be until 2023. It will be interesting to see what happens with those "pots" of monies that will be out there.

Bryce

Then you're the biggest virtue signaller on T-man(and there is a pile of them)-preaching all that holier than thou scripture signalling how much holier you are when in fact you are far from being a true christian.Just a charlatan.

You are confusing Jim Bakker, who was married to Tammy Faye with Jim Baker.

Keith

It is not my job to convict you Boco. You do a great job all by yourself. At least you know what they call it now. You love to spin what you are doing on others. Another liberal trick. Blame others for what you are actually doing yourself to distract from what you are doing knowing what you are saying is not true. I see right through you. I see the true colors. LLL

I dont blame anyone for not paying any tax they can get out of. Government spending is out of control. Nothing but waste and corruption. Our ancestors would be loading their rifles again.