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The Biden administration plans to beef up IRS auditing by expanding the agency’s funding and power. Biden’s latest proposal would make banks to hand over to the Internal Revenue Service bank account information for all accounts that have more than $600.
There has been a pushback against the proposal and more than 40 trade associations, signed a letter to U.S. House Speaker Nancy Pelosi, D-Calif., and Minority Leader Kevin McCarthy, R-Calif., stating how this plan is extremely alarming.
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SOUCE: YahooNews