The IRS Wants to Snoop on You
The WealthAbility Show Episode #95: The IRS Wants to Snoop on You w/ Patrick Hedger and Jim Amundson
In this episode, Patrick Hedger, VP of Taxpayers Protection Alliance, & Jim Amundson, CEO of The Independent Community Bankers of Minnesota, join Tom to discuss how the IRS seeks access to American’s bank accounts. Discover how this proposal is another attack on small business and may violate the constitution.
03:14 - Why is the IRS seeking access to private bank accounts?
05:05 – How does the IRS want to snoop on bank accounts?
07:06 - What are the consequences for citizens if the IRS spies on your bank account?
08:10 - What role would banks play in complying with the IRS?
11:19 - Could this proposal drive people to crypto currencies?
16:13 - Why is this proposal not about taxes?
20:39 - How will audits change?
Looking for more on Patrick Hedger and Jim Amundson?
Website: www.protectingtaxpayers.org
Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax. https://wealthability.com/tom/
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DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.