Secretary of the Treasury Janet Yellen has relented in response to backlash over a controversial proposal by Democrats that would have allowed the IRS to gain information from any American bank account with more than $600 of activity in a year. The measure initially came to light as a part of Democrats’ $3.5 trillion reconciliation…
‘They’re Getting Desperate:’ Bank Group Executive Pushes Back on Psaki’s Characterization of Opponents of IRS Proposal
The White House on Monday claimed that opposition to a proposal to dramatically widen the powers of the IRS is being driven by large banks and the wealthiest Americans, drawing fresh pushback from critics. “They’re getting desperate now that average customers and consumers found out about this IRS snooping proposal on all bank accounts, and they’re…
Biden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association Exec
Paul Merski, executive vice president for the Independent Community Bankers of America, told NTD’s “The Nation Speaks” program that President Joe Biden’s proposed bank account reporting law being drawn up is a violation of Americans’ financial privacy and is a costly regulatory burden on financial institutions. “This is going to be a massive invasion of…
House Republicans Decry IRS ‘Weaponization’ Against Christian, Conservative Groups
A bewildered civil liberties lawyer expressed frustration to Republican members on the House Ways & Means Committee Wednesday, asking why the IRS has time to harass evangelical Christian groups seeking tax exemption but can’t prevent leaks of tax records. “Why is it that the IRS has time to go after Christians Engaged, but they don’t…
NTD Evening News Full Broadcast (Sept. 24)
The photographer who captured an incident with Border Patrol agents says the images don’t show the true story, the results are finally here for the Maricopa Country election audit, and opposition grows to President Joe Biden’s plan to allow the IRS to access private bank account information.
GOP Senators Introduce Bill to Block Biden’s ‘Weaponization’ of IRS Bank Account Surveillance
President Joe Biden’s proposal for a radical expansion of IRS monitoring of Americans’ bank accounts would be stopped in its tracks under a proposal introduced by two Senate Republicans concerned about protecting privacy rights. “What they’ve done is, they are weaponizing the IRS, they’re pushing many, many billions of dollars into that and they will…
Banks Oppose Biden’s New Proposal on IRS Reporting
WASHINGTON—Opposition is growing to a new proposal aimed at curbing tax evasion that would be part of the $3.5 trillion reconciliation package under consideration by Congress. The proposal, which is being pushed by the Biden administration, would require banks and other financial institutions to report to the Internal Revenue Service (IRS) any deposits or withdrawals…
IRS Sends out $15 Billion in Child Tax Credit Payments to Families
The Internal Revenue Service (IRS) and Department of Treasury on Friday confirmed that some $15 billion in child tax credit payments were sent to families, according to the White House. The agency said that nearly 61 million children would be impacted by the move. Some recipients may face delays, although many are receiving the funds…
Former IRS Attorney Says Agency Likely Knows Identity of Pro Publica Leaker
There are at least three major investigations of who gave a massive trove of confidential tax data to an investigative news site, but a former IRS lawyer believes the federal tax agency knew who did it soon after the leak. “If an IRS employee accesses a tax return that he or she does not have…
Once a Welfare Reformer, Biden Now Turning IRS into Biggest Welfare Agency
CommentaryWhen President Clinton’s welfare-reform proposal stalled in Congress in the summer of 1996, Democratic Sen. Joe Biden stepped in to push a tougher bill that gave more concessions to Republicans. He boasted his bill would get “tough on welfare moms.”“It’s time to pass a welfare reform bill,” Biden asserted, noting his proposal would make welfare recipients work…
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