Editorial: Don’t let the IRS spy on our bank accounts

Published by
The Detroit News

The Biden administration is actively pushing Congress to require banks to report to the Internal Revenue Service on the account activity of a huge swath of Americans. This unwarranted snooping would be an invasion of privacy, and lawmakers should make sure it doesn’t happen. Treasury Secretary Janet Yellen and the IRS have asked Congress to mandate banks send along annual inflows and outflows from accounts with at least $600 or $600 worth of transactions. That’s a low bar that would expose the majority of bank accounts to additional scrutiny. The administration claims this would allow the IRS …

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