The IRS Proposal You Need to Know About
Posted On: September 23, 2021 by F & M Community Bank in: Community Matters
IRS $600 Bank Mandate
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As your community bank, it’s not often we share news from or take a public stance on, issues taking shape in places well beyond our city’s limits. However, we feel strongly that as our customer, you should be informed about a concerning new proposal by policymakers in Washington.
This new proposal is calling for the IRS to track the deposits and withdrawals of all bank accounts with balances of $600 or more. This would affect...