PA House and Senate Resolution Opposing IRS Reporting Proposal Moves Forward

Date: November 03, 2021

The Pennsylvania House and Senate both have resolutions opposing the Biden Administration’s proposal to require annual reporting to the Internal Revenue Service (IRS) of gross inflows and outflows from all business and personal customers’ accounts above a de minimis threshold.

NFIB supports these resolutions which were recently reported from committee and are now before the full House and the full Senate. We commented to lawmakers that “the administration’s proposal would sacrifice the privacy of law-abiding small business owners and expose them to costly and burdensome audits as well as this new reporting regime would result in the IRS targeting small business owners with costly and burdensome audits.”

Click here to read NFIB’s comments: NFIB LTR-S- opposing IRS reporting proposals (10-22-21)

Related Content: Small Business News | Pennsylvania

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