Democrats in the U.S. House of Representatives have proposed that American banks will need to report to the IRS the amount of all inflows and outflows every year of any bank account with a balance of $600 or more.
Although this proposal has been modified and is still in negotiation, many Americans have expressed concern about how this will affect their income taxes. In this week’s Freedom Hour presentation, Freedom Law School’s founder, Peymon Mottahedeh, will explain how this can actually be good news for you!