The Whitehall Ledger - Serving Southern Jefferson County in the Great State of Montana

Dear Editor: Your Privacy and Money are at Risk

 

October 20, 2021



Dear Editor,

Your privacy and money are at risk as the IRS seeks approval to snoop. There is an ongoing battle regarding the $3.5 trillion reconciliation plan proposed by the Biden Administration, which includes a provision that would require financial institutions, such as our credit unions, to report to the IRS transactional data for any account with at least $600 of inflows or outflows annually. This unlimited access to consumers’ financial data should raise alarms for anyone with a bank or credit union account.

First and foremost, this plan violates consumers’ privacy by requiring i...



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