Ohio Attorney General Dave Yost and 19 other state attorneys general have asked President Joe Biden and Treasury Secretary Janet Yellen to withdraw a plan to allow require banks, credit unions and other financial institutions to report massive amounts of personal financial data to the Internal Revenue Services in a stated effort to track down tax cheats.
The proposal within the $3.5 trillion Build Back Better budget reconciliation package would require financial institutions to supply data on accounts of $600 or more with $600 or more in annual transactions.
Ohio Attorney General Yost, 19 Other Attorney Generals Fire Off Letter Opposing Planned ‘Invasive’ IRS Bank Data Grab
