Biden plan lets IRS snoop on your bank accounts

Posted by Kane on May 5, 2021 8:21 am

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Biden’s plan wants to give an extraordinary amount of new power to the IRS.

 

Take a look at this fact sheet from the Treasury Department, explaining a new provision that would require banks and financial institutions to start telling the tax agency what people have in their bank account, when money is moved around, and the like. This proposal, according to the fact sheet, “leverages the information that financial institutions already know about account holders, simply requiring that they add to their regular, annual reports information about aggregate account outflows and inflows. Providing the IRS this information will help improve audit selection so it can better target its enforcement activity on the most suspect evaders, avoiding unnecessary (and costly) audits of ordinary taxpayers.”

 

Giving the IRS more power to track money that moves into and out of your accounts is supposedly meant to help the tax agency go after the wealthiest taxpayers. However, this new authority has been described as being akin to giving federal tax “cops” even more of an excuse to claim a metaphorical probable cause to financially “stop and frisk” someone.

 

The US operates under a so-called pay as you go tax framework, meaning that people are penalized if they wait until the end of the tax year, for example, to pay all their taxes in one lump sum. This way, the IRS could see that people have a certain degree of taxable income flowing through their financial accounts that they should be paying taxes on throughout the year.

 

The Biden administration wants to spend $80 billion to expand the IRS’ compliance abilities in order to generate $700 billion over the next decade to help pay for the American Families Plan, and the benefits it includes like new quasi-stimulus checks. Where does that $700 billion come from? From the increased tax enforcement that the $80 billion IRS expansion made possible.

 

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KRIS
KRIS

Supreme Leader Biden is right on track. We do not have a POTUS.

Jim1937
Jim1937

Biden and his IRS aka Irresponsible Radical Shitheads can kiss my ass!

george
george

Satan’s plan is almost complete….the 5th seal has been broken…Revelation 6:9, get ready for all hell to be released…God didn’t lie..Satan did “shurely you will not die”, but they did, and so will you and I.

Strayhorse
Strayhorse

Hmm, who recently (Obama) WEAPONIZED the IRS to go after their conservative liberty loving enemies? Hmm, ley’s see, the DemonKKKrats!

Tom Clark
Tom Clark

The Banker’s Manifest
“Capital must protect itself in every way, through combination
and through legislation. Debts must be collected and mortgages
foreclosed as soon as possible. When through a process of law the
common people have lost their homes, they will be more tractable
and more easily governed by the strong arm of the law, applied
by the central power of wealth, under control of leading financiers.
People without homes will not quarrel with their leaders.
This is well known among our principal men now engaged in forming
an imperialism of capital to govern the world. By dividing the people we
can get them to expend their energies in fighting over questions of no
importance to us except as teachers of the common herd. Thus by
discreet action we can secure for ourselves what has been
generally planned and successfully accomplished.”
The above was printed from the banker’s manifest —
for private circulation among leading bankers only —
taken from the Civil Servants Year Book,
“The Organizer” of January, and the “New American”
of February 1934.

IMPedie
IMPedie

The “Already rich” don’t pay taxes. They do not make the money you think of when you hear they are worth 16 BILLION dollars. IT IS CALLED AN INCOME TAX people. No income(defered or deposited out of USA) NO TAX> PERIOD> The little guy ,just gettin’ by makes a paycheck every week just to survive. He pays and pays and pays. ANYONE who says the rich will pay more is a LYER. CORPORATIONS and the RICH never pay taxes. You DO !

Christopher Lucy
Christopher Lucy

Why Doesn’t Biden check up on the little people taking money under the table and the shops that don’t give you receipts so they don’t have to pay taxes why should I pay for other people’s children if the children are sent here by traffickers and they’re not even born in this country.. Bozo can go f*** himself

Christopher Lucy
Christopher Lucy

Biden should check up on all those little people that take money under the table and don’t pay their taxes and the small shops that don’t give you receipts so they don’t have to pay taxes.. he can go f*** himself

Christopher Lucy
Christopher Lucy

And there I went in the naive belief that the investments and the work that we did benefited the economy &the country what was I thinkin? F*** the Communist and f*** the country..in fact in the last two tax years my new accountant told me I overpaid and I received a refund on one of them already why do I have to wait the rest of the year to get the refund on 2019.. and I’ve overpaid in more than one tax year in the recent years

Christopher Lucy
Christopher Lucy

If I am in the United States you’ll get my estate tax after I drop dead but you’ll get nothing after that because I made it a point not to have family or children I will not let them live in a socialist country…and much of what I have to tell you the truth was created by the foresight and the sweat of others ..I do not intend to work that much.going forward.. Since the IRS knows what I owe why do I have to file so that I can make a mistake in the process possibly &they can penalize me for that ?If my crystal ball breaks and I can’t estimate it..why can’t I just pay at the end send me a bill..it seems like I have to pay for other people to have children they’re either unable or unwilling to support I don’t see that as being something that I can endorse..@65 though I only have a 1 in 4 chance to make it to 85 so you don’t have me to kick around forever…

texasrenegade
texasrenegade

In 2010, I got a letter from the IRS stating I owed taxes on income (deposits). Turns out, the IRS knew when I was moving money from my savings acct to my checking acct, and thus, they decided to call that income. Had to hire an expensive CPA firm to get them to back off. Cost my $9k. Money I didn’t have. But when it comes to the IRS, they will make you pay – one way, or another. Sad. Corrupt.

Fearlessly free
Fearlessly free

Ammo up!

fake mexican
fake mexican

How about if the IRS first focuses on the Biden crime family money flows?

rickn8or
rickn8or

Yes, just to prove the new regulations work.

FedUpMV
FedUpMV

Biden calls it the sniff and grope plan…

Isobel
Isobel

That will boost cyber currencies.

Booblius
Booblius

LOL that is what they want track all your money…all the time.

1_Flyover
1_Flyover

I registered as a Democrat just to stay out of the cross-hairs.

driver
driver

Only bank accounts of Trump supporters and such.

Agnus Dei
Agnus Dei

“SIGH” They don’t need the money, that’s just an excuse. It’s about fear, power and control. They’ve got MMT and have spent something like 9 TRILLION dollars since this shitstorm began. The ROI they are quoting is a smokescreen. FEAR POWER AND CONTROL.

IRS corrupt as the FBI and Democrats/Rinos...
IRS corrupt as the FBI and Democrats/Rinos...

When did those traitors ever not spy on bank accounts??????

Agnus Dei
Agnus Dei

“SIGH” They don’t need the money, that’s just an excuse. It’s about fear, power and control. They’ve got MMT and have spent something like 9 TRILLION dollars since this shitstorm began. The ROI they are quoting is a smokescreen. FEAR POWER AND CONTROL.

Tnes
Tnes

Time for GESARA/NESARA and bye bye IRS!

iamsane
iamsane

Thank God I have no money.

Dave w
Dave w

No wonder cryptos are spiking up today

Nordic
Nordic

No need to attack the purveyors, but kill their system: technology, mechanical, power
Without energy and technology, they have no power.

RandyLee
RandyLee

don’t they already snoop?

qwert
qwert

PUBLIC-PRIVATE PARTNERSHIPS DESTROY COUNTRIES THROUGH CORRUPTION EVERY TIME!. LOOK AT THE SOVIET UNION!

Just a group of private companies that have been spying on you for years (THERE ARE MANY OTHERS):

INSA – The Intelligence National Security Alliance – MICROSOFT, MITRE CORPORATION, NOBLIS, OG SYSTEMS, ORACLE, PALO ALTO NETWORKS, PERATON, PWC, SAIC, SKADDEN, BAE SYSTEMS, BOOZ ALLEN HAMILTON, BOEING, CSRA, DXC.TECH, FEDDATA, GENERAL DYNAMICS, IBM, LEIDOS, LOCKHEED MARTIN, MANTECH, NORTHRUP GRUMMAN, RAYTHEON, SERCO, TROVICOR, CACI, NS2, TRANS UNION, VENCORE, ACCENTURE, ADOBE, AECOM, AMAZON, ARNOLD & PORTER, KAYE SCHOLER, AT&T, AYASDI, BALL AEROSPACE & TECH CORP., BATTELLE, CENTURY LINK, DELL EMC, DELOITTE, DELTA, PSS, EAGLE RAY, ECS, ENGILITY, EY, FULCRUM, HARRIS, JACOBS, KEY W, LGS INNOVATIONS, LMI

Do NOT care at all....
Do NOT care at all....

All anti-America SPY agencies

Darrell Michael Richardson
Darrell Michael Richardson

Illegal and un-Constitutional

Split Lip Larry
Split Lip Larry

Yet nobody seems to care.

COUCH POTATO
COUCH POTATO

A perfect description of today’s federal government.

Wolf
Wolf

….FYI: Commercial banks have been handing over the same info about account for decadex. C’mon Man….

Harharhar
Harharhar

When they know what you have, they know how much they can charge you

Adrian
Adrian

Communist aholes……go after MRS. MAO VON PANTSUIT THE SATAN CLINTON FOUNDATION …….WITH INTEREST THAT OUGHT TO FINANCE ALL THE RETARDS ILL WILL ON AMERICA ….F THE ….IRS

Al Walker
Al Walker

Guys: Do you really think the FBI was ignoring the law and spying on Americans and IRS/U.S. Treasury wasn’t monitoring your bank accounts? Bhahahahaha!

I always assumed that IRS could get all my bank records in no time if they wanted to.

Geo
Geo

If you sent them your banking info for the covid checks did you really think they would ever not use that access again?

RandyLee
RandyLee

and you are right

Flagchick26
Flagchick26

They really do want a civil war.

Chuck
Chuck

Yes they do…in fact, they want it to start over multiple reasons (race, b.s. pandemic restrictions, monies etc..) and, with the defund the police movement, it gives them the authority to push the states out of the way, and institute Marshal Law. What does that do? Whoo boy – they can seize property, they can control everything…they tried to get President Trump to walk into that trap last year. Had he done that with those riots in Minnesota and Portland – it would be that much easier for Obiden admin to do it in the future…don’t just ammo up folks, have a plan, rehearse it, stock up and pray daily…we can get through this.

Mojojojo
Mojojojo

Blame your friends and relatives that voted for slow joe

Al Walker
Al Walker

Nobody voted for Joe except for 25-30%… and there he is. That’s the problem.

Whoever
Whoever

I’m sure most people know by now not to put their best in the system.

Steve
Steve

Orwell warned you. Shouldda listened.

linda2of5@gmail.comj
linda2of5@gmail.comj

DON’T FORGET HIS A—-VP, KREEPALA HAIRBALL.

SSI01
SSI01

What double-talk bullhooey. Just look at the list of the 1,000 biggest names in American “industry” and there are your tax cheats. Period. There are honest ones like Trump now and then but by and large the richest and also the slipperiest. Next step – look at the Congresscritters that vote these exemptions etc into law, and ck out their accounts for insider trading profits and questionable sources of income. Between those two you’ll have enough auditing to keep the IRS busy for the next 100 years and the rest of us can get on with our lives..

MississippiRifle
MississippiRifle

Silver and gold folks. Never been worth $0.

Mojojojo
Mojojojo

Until they say you can’t own it.

Whoever
Whoever

Gold, taken by FDR, with threats of fines, and 10 year prison terms.
Antique jewelry taken by the government when the federal reserve had been legal less than two decades; created for the sole purpose of robbing the common man into destitution.

did you buy your gold without a trail, paid cash, never signed your name?

Put your trust in our Creator God.
He can make gold from fish spit, and make bread from a blessing.
Nothing is impossible with God.
He takes care of His own.

Chris
Chris

This senile old pervert biden is destroying this country faster than anyone would have thought possible just 4 months ago.

linda2of5@gmail.comj
linda2of5@gmail.comj

HE IS A CREEP

Mr. Lee
Mr. Lee

That’s because the Real Creep is Baraack.

Buck80
Buck80

Joe is an expert on money laundering don’t ya know.

simon77047
simon77047

Will the Senate go along with this?

Whoever
Whoever

Seen one, seen them all.
Eight years tops in politics , and they lose all integrity.
Most of them were politicians long before they came to DC.

Gyorgy Schmartz
Gyorgy Schmartz

Joe and his son Pedo are exempt, of course….”Remember, I want 10% for the Big Guy”!!!🤣

LCDR
LCDR

joe biden always looking for new and more innovative ways to oppress the American People.