The Internal Revenue Service (IRS) is trying to encroach on your privacy and snoop into your bank account. We've already caught the IRS targeting Christians and conservatives. We took them to court and we won. Fast forward to only a couple of years later and, under a new Administration, they are right back doing what they were ordered not to do. I recently testified at a congressional roundtable before Members of the House Ways and Means Committee over weaponization of the IRS by targeting individuals once again and addressed the latest unconstitutional attempt to snoop on your bank account.
This time, the IRS is going after your bank transactions. The threshold was $600, which could be subject to an IRS review of that transaction. After the hearing, the Biden Administration and the Left in Congress backpedaled and put forth a new proposal. Because of the public outcry after the hearing, the limit has now been increased to $10,000. That is not any better. In fact, it's worse. Now, it's not a one-time transaction; this number is cumulative $10,000 over the course of a year. Think about what you spend on food, groceries, bills, mortgage or rent, etc. For most Americans, this will add up to more than $10,000 a year – which means the IRS would then have unfettered access to rifle through your bank account looking for whatever it wants. Keep in mind, the IRS would be doing this without a warrant or probable cause. Why are we giving the IRS this authority? I don't care if it's $10, the IRS has no business looking in your bank account. It's your money.