Proposed IRS Reporting Legislation: Grassroots Resources for Bankers

Bankers, below are several sample resources for your bank’s use in educating customers about the troublesome proposal that, if enacted, would require banks to report to the IRS detailed information on the inflows and outflows of every customer account above $600.

Resources:

  • Link to grassroots letter-writing tool where customers can contact their lawmakers directly
  • Download sample language for a customer communication
  • Sample Social Media Posts – Instructions: 
    1. Download this image and upload it to a new blank social media post. 
    2. Copy/paste your selected language into the post:  
      • Option 1:
        • Attention customers: Congress is considering a plan to require financial institutions to report detailed information on customer bank accounts to the IRS, raising serious questions about your right to privacy. Tell Congress you oppose this plan: aba.social/ContactCongress 
      • Option 2:
        • Option 2 (note – not for use on Twitter – exceeds character limit):
          • While we typically do not raise issues occurring in Washington with our customers, Congress is considering requiring financial institutions to report detailed information on customer bank accounts to the IRS. This raises serious questions about your right to privacy. We encourage you to contact your member of Congress and let them know you oppose this proposal: aba.social/ContactCongress

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