Proposal would require banks to report private and business transactions over $600 WASHINGTON, D.C. – Senator Lummis lambasted a Biden administration proposal to require banks to disclose every financial transaction over $600 to the Internal Revenue Service (IRS). Citing concerns from Wyoming individuals, banks and businesses, Lummis attacked the proposal during a Senate Banking, Housing, … Continue reading Lummis grills Secretary Janet Yellen on proposed IRS reporting requirements