U.S. Treasury’s Yellen says Democrats propose $10,000 IRS bank reporting threshold -Breaking
[ad_1]
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday she welcomed a new proposal from congressional Democrats to raise the bank account transaction reporting threshold to the Internal Revenue Service to $10,000 annually from a proposed $600 level, with an exemption for wage earners.
“Today’s new proposal reflects the Administration’s strong belief that we should zero in on those at the top of the income scale who don’t pay the taxes they owe,” Yellen said in a statement.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
[ad_2]