The IPA has signed a letter alongside 98 other trade association and companies opposing the proposed new tax information reporting regime from the Biden Administration as part of the proposed Reconciliation package pending in Congress. As a reminder, the proposal would require providers of financial services to track and submit to the IRS information regarding every account above a de minimis threshold of $600 during the year. Similar to the previous coalition letter addressed to Congress, this current letter is addressed directly to President Biden and urges him to withdrawal the proposal. The letter was sent to the White House this morning.
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