IRS reporting included in final House Bill
On October 12, 2021 the House leadership doubled down on the unprecedented proposal to require finanical insitituitions to turn over vast amounts of consumer account data to the Internal Revenue Service (IRS). Privacy and confidentiality of member information has always been a serious concern for financial institutions. If this is enacted, it will fundamentally change the nature of the information financial institutions are required to report on their account holders, creating new concerns regarding data security and privacy. Please consider taking action by clicking the link below to share your thoughts so we can work together to keep this from becoming a law.