Tennessee Representative Mark Green Sends Letter with over 100 Republicans to Speaker Nancy Pelosi Regarding IRS Data Collection Proposal

In an official press release Tuesday, Tennessee Representative Mark Green (R-TN-07) announced that he and 100 Republican colleagues sent a letter to Speaker Nancy Pelosi, Ways and Means Committee Chairman Richard Neal, Treasury Secretary Janet Yellen, and IRS Commissioner Charles Rettig, expressing their frustration over a recent IRS data collection proposal to increase tax information reporting requirements on financial institutions.

The proposed measure would require financial institutions to report transactions to the Internal Revenue Service on any bank account with a balance of more than $600. The Treasury Department says the proposal for extra data is being sought to target high earners who underreport their tax liabilities.