Biden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association Exec

Biden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association Exec
The Internal Revenue Service building stands in Washington on April 15, 2019. Zach Gibson/Getty Images
Tom Ozimek
Updated:
The proposed bank account reporting law drawn up by the Biden administration is a violation of Americans’ financial privacy and is a costly regulatory burden on financial institutions, Paul Merski, executive vice president for the Independent Community Bankers of America, told NTD’s “The Nation Speaks” program.

“This is going to be a massive invasion of financial privacy,” Merski said. “The last thing we need is everyone’s financial account information being turned over to the IRS in a massive dragnet.”

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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