NAFCU President and CEO Dan Berger addressed Congress’ recent Fiscal Year 2022 Budget Resolution and its proposed IRS reporting requirements last week in a new CUinsight op-ed. Under this proposal, financial institutions would be required to file an annual information return for all business and personal accounts based on the inflows and outflows each year on any account with over $600 in activity. NAFCU believes that stopping these new reporting requirements would be most beneficial to credit unions and their members.
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