Proposed IRS reporting provisions would create ‘significant new burdens’

This proposal would put credit unions and banks in the position of perpetrating an unprecedented invasion of privacy

September 8, 2021 – Credit unions need to work together against a proposal that would require financial institutions to report money moving into and out of accounts to the Internal Revenue Service (IRS), said CUNA Chief Advocacy Officer Ryan Donovan. CUNA issued an action alert Wednesday urging credit unions to share their concerns about the proposal, which under consideration in the infrastructure package currently being debated. 

Read More!