HR 1010
Prohibiting IRS Financial Surveillance Act
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Bill overview
This bill, the Prohibiting IRS Financial Surveillance Act, aims to limit the Internal Revenue Service’s ability to demand information about financial transactions. Specifically, it prevents the Treasury Secretary from requiring financial institutions to report deposits and withdrawals into accounts. The bill maintains existing reporting requirements that were in place as of January 1, 2023. It is intended to protect financial privacy and limit potential government surveillance of financial activity.
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Primary sponsor
A. Drew, IV Ferguson
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