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Treasury Department Seeks to Track Financial Transactions of Personal Bank Accounts Over $600

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posted on Sep, 15 2021 @ 09:53 AM
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a reply to: sciencelol




It wont matter how good you do your finances they are still gonna take it. Count on it.


And they know who to take from and who it give to in the name of climate,social justice or whatever lame excuse to justify their outright theft.
edit on 15-9-2021 by neo96 because: (no reason given)



posted on Sep, 15 2021 @ 09:54 AM
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originally posted by: AugustusMasonicus

originally posted by: sciencelol
It wont matter how good you do your finances they are still gonna take it. Count on it.


They can't take what I don't have in there. Who is dumb enough to leave large sums in a bank account? Smart people who don't get pinched by the IRS invest their money.


Oh yeah they wont come after your investments
Your boy Joe would never do that



posted on Sep, 15 2021 @ 09:55 AM
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originally posted by: neo96
a reply to: sciencelol




It wont matter how good you do your finances they are still gonna take it. Count on it.


And they know who to take from and who it give to in the name of climate,social justice or whatever lame excuse to justify their outright theft.


Its absolutely whats coming.



posted on Sep, 15 2021 @ 10:05 AM
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a reply to: neo96



Trying to sniff out money that can be taxed.

Most criminals use alternate methods to hide their money, casinos for example (Native American owned, can’t f with them haha).

Offshore accounts just another example, shoot I once knew a Dr that when he passed, someone found thousands of dollars buried in the walls of one of his homes.

I have also known people who would tell stories of people they knew who would bury money and jewels in cans in their back yards.

This will be interesting to watch!

edit on 15-9-2021 by KTemplar because: (no reason given)



posted on Sep, 15 2021 @ 10:10 AM
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a reply to: KTemplar



(Native American owned, can’t f with them haha).

But this is clown world.. they will f### with them too.

The constitution is just a pesky piece of paper with harmful content.

The state of the union address is to be ripped up right after the speech.



posted on Sep, 15 2021 @ 10:11 AM
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☠️ Democrat Abwehr !☠️




posted on Sep, 15 2021 @ 10:16 AM
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They are supposed to be doubling the IRS budget ro pull this off. Which of course you fund through tax in the first place.



posted on Sep, 15 2021 @ 10:19 AM
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originally posted by: sciencelol
Oh yeah they wont come after your investments


No, they won't. I'm not a potato who gets wrapped up with the IRS.



posted on Sep, 15 2021 @ 10:24 AM
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originally posted by: AugustusMasonicus

originally posted by: sciencelol
Oh yeah they wont come after your investments


No, they won't. I'm not a potato who gets wrapped up with the IRS.


If You believe in Karma you should probably worry



posted on Sep, 15 2021 @ 10:25 AM
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Think of the hidden ad targeting !😃



posted on Sep, 15 2021 @ 10:29 AM
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originally posted by: sciencelol
If You believe in Karma you should probably worry


Karma is a stupid thing to believe in.



posted on Sep, 15 2021 @ 10:36 AM
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originally posted by: MDDoxs
a reply to: neo96


  1. This is very invasive
  2. The amount of data and work involved to manage this amount of information would be tremendous both on the banks part and the government
  3. This is just another way for the government to nickle and dime the low and middle class. I can assure you those offshore accounts of the weathly are not going to be effected.


The banks already are NOT happy....
[posted this in another thread on the topic]

Pushback rises as Biden admin seeks to monitor all bank accounts as part of $3.5 trillion package

Nevertheless, privacy rights advocates are concerned the provision encroaches on the Fourth Amendment, while banks are largely opposed to the measure because it imposes significant new reporting requirements, the Daily Mail noted. Also, opponents say such a measure would hurt poor Americans most while causing others who have the means to move their assets to offshore accounts.
...
Banks, too, are pushing back.

In a letter to the Senate Finance Committee’s Subcommittee on Taxation and IRS Oversight, the American Bankers Association countered that the “new reporting requirements for financial institutions would impose cost and complexity that are not justified by the potential, and highly uncertain, benefits.”


American Banking Journal

Banks already report a significant amount of information to the IRS that is not being used, ABA added. The additional reporting requirements would be “massive, unmanageable and of questionable relevance to the calculation of taxable income,” and would create a significant compliance burden for the nation’s community banks.



posted on Sep, 15 2021 @ 10:43 AM
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a reply to: neo96

and are they tracking payments above this too ?

like all the money being used in illegal activities etc

but nah lets attack the common working human

we are slaves to the system



posted on Sep, 15 2021 @ 10:44 AM
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a reply to: DontTreadOnMe

The banks are not mad they are in on it.

This way they can just say we had no choice but we are mad about it.



posted on Sep, 15 2021 @ 10:47 AM
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originally posted by: sapien82
and are they tracking payments above this too ?


It's all transaction, both in and out, for accounts with a de minimis of $600.



posted on Sep, 15 2021 @ 10:48 AM
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Perhaps this is an attempt to better track who is making crypto transactions to and from their bank accounts.



posted on Sep, 15 2021 @ 10:48 AM
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originally posted by: ELECTEDOFFICIAL
Is there any point in splitting your direct deposit into as many banks as required to hover below the $600 threshold? That alone would create a massive lifestyle change in how people spend and save.

P.S. - Fluck Biden and the Chinese horse he rode in on.


Exactly what I was wondering. Spread out the cash to many different accounts including a sizable amount under the mattress. Buy debit cards with $600 or less.

Eventually they will catch up with you, but the mob guys must have some ideas. Any wiseguys out there with some advice?
edit on 15-9-2021 by MichiganSwampBuck because: Typo



posted on Sep, 15 2021 @ 10:50 AM
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originally posted by: WakeUpBeer
Perhaps this is an attempt to better track who is making crypto transactions to and from their bank accounts.


It isn't.

Key word there is ANY.



posted on Sep, 15 2021 @ 10:51 AM
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originally posted by: neo96

originally posted by: WakeUpBeer
Perhaps this is an attempt to better track who is making crypto transactions to and from their bank accounts.


It isn't.

Key word there is ANY.



I reread the OP and see my initial comment is moot.



posted on Sep, 15 2021 @ 11:11 AM
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a reply to: MichiganSwampBuck

During the Red Dawn 2.0, buying too much gas, alcohol, tobacco, or too many plastic straws, etc., will negatively impact your Social Credit™ score, preventing you from access to specific goods and services. Your vaccine passport for both foreign and domestic travel is just icing on the diaper cake.

China's 'social credit' system ranks citizens and punishes them with throttled internet speeds and flight bans if the Communist Party deems them untrustworthy


China's social credit system expands that idea to all aspects of life, judging citizens' behaviour and trustworthiness. Caught jaywalking, don't pay a court bill, play your music too loud on the train — you could lose certain rights, such as booking a flight or train ticket. "The idea itself is not a Chinese phenomenon," says Mareike Ohlberg, research associate at the Mercator Institute for China Studies. Nor is the use, and abuse, of aggregated data for analysis of behaviour. "But if [the Chinese system] does come together as envisioned, it would still be something very unique," she says. "It's both unique and part of a global trend."


The system can be used for individual people, but also for companies and government organizations. The private sector, including the burgeoning tech world in China, has their own non-governmental scoring systems that they implement, as Wired reported.

www.wired.co.uk...

edit on 15-9-2021 by ELECTEDOFFICIAL because: please abduct me, aliens




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