In the News

IRS Data Collection

Tell Congress to Oppose New IRS Reporting Provisions

Unitus is supportive of taxpayers paying their taxes but this proposal is a dramatic overreach in pursuing taxpayer compliance. The Biden Administration remains focused on ensuring wealthy Americans who underreport their income pay the appropriate taxes. However, the proposed thresholds for reporting transactions ($10,000) would mean that nearly every credit union member may have their data sent to the IRS.

We are concerned this proposal would violate consumers’ personal privacy by forcing Unitus to provide the government with information that does not reflect taxable activity.

Please help us get the message to our legislators. Tell Congress that by allowing the IRS to access nontaxable deposit account information they are jeopardizing consumers’ personal financial privacy. Click here to send your message.

Thank you for being a champion of the credit union movement.

 

Updated 10/13/21

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