Oppose IRA’s ~$80B IRS expansion and comprehensive $600 financial-account reporting
Mandate calls for reversing Inflation Reduction Act IRS funding that could double the workforce and unequivocally opposing comprehensive financial account information reporting for accounts over $600 (revised 1099-K-style bank reporting).
Mandate
Mandate Ch. 22 (Treasury) — Tax Administration: Inflation Reduction Act contains a radical $80 billion expansion of the IRS—enough to double its workforce—unless Congress reverses this policy; comprehensively oppose financial account information reporting regime for accounts with more than $600 requiring banks to file revised Form 1099-K-type information.
Undo plan
1) Preserve IRS funding for customer service, IT modernization, and large-corporation/high-wealth enforcement.
2) Design information reporting that targets evasion without indiscriminate $600 surveillance of ordinary accounts.
3) Pair any funding with taxpayer-service standards and privacy audits.
4) Codify use limits and cybersecurity requirements for third-party data.
5) Verify: audit coverage by income class and service-level metrics.