FILE PHOTO: U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, D.C., U.S., June 23, 2021. Greg Nash/Pool via REUTERS
October 19, 2021
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday she welcomed a new proposal from congressional Democrats to raise the bank account transaction reporting threshold to the Internal Revenue Service to $10,000 annually from a proposed $600 level, with an exemption for wage earners.
“Today’s new proposal reflects the Administration’s strong belief that we should zero in on those at the top of the income scale who don’t pay the taxes they owe,” Yellen said in a statement.
(Reporting by David Lawder; editing by Jonathan Oatis)
Source: One America News Network
