“There’s a lot of tax fraud and cheating that’s going on.” Treasury Secretary Janet Yellen says the proposed $600 IRS reporting requirement for banks is “absolutely not” a way for the government to peek into American’s pocketbooks but to hold billionaires accountable. | CBS Evening News
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Democrats raise proposed IRS bank reporting threshold to $10,000 from $600
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The IRS had all of us prepared for the new $600 reporting rule, only to go back to the original reporting rules for 2023. Because of all the confusion the new rule created, they’re lowering the threshold to $5,000 for 2024 to help transition to the $600 threshold. If you’re a barber, braider or hairstylist…follow for more profit and tax info. #barbers #barbershop #hairstylist #braidersontiktok
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