IRS reporting provision fight is not over

Some Senators attempting to modify and bring it back

Yesterday, the California and Nevada Credit Union Leagues sent an email call to arms in support to reengage their credit union followers against the IRS reporting provisions that were thought to have been removed from President Biden’s massive H.R. 5376, “The Build Back Better Act.” Apparently, the fight is not over and your help is needed! Below is the message.

Your credit union needs your help! A couple of months ago, we alerted you about the United States Congress considering a measure that would have required financial institutions to turn over personal consumer account data to the Internal Revenue Service (IRS). This proposal was originally included in the House of Representatives bill, H.R. 5376 – Build Back Better Act, but with the help of credit union opposition efforts, the House omitted this provision from their bill.

Unfortunately, the fight is not over. As the bill now heads to the United States Senate, there are a few Senators debating whether to add a modified version of this provision back into the bill. Credit union advocacy kept this policy out of the House of Representatives version of the bill, and now we need to make sure the Senate does the same.

Action needed: Please send an updated pre-written letter to your Senators asking them to reject any proposal to add the IRS reporting provision back into the bill.

Connect for the Cause

Once you send your letter, please forward this action alert to a friend or colleague. Thank you for taking action to secure the future of credit unions!

Thank you,

California and Nevada Credit Union Leagues