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Radical Personal Finance

814-Will Your Bank Automatically Send All Your Info to the IRS?

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.21.9K Ratings

🗓️ 14 September 2021

⏱️ 79 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge

0:03.2

skills, insight, and encouragement that you need to live a rich and meaningful life now,

0:08.6

while building a plan for financial freedom in 10 years or less.

0:12.3

My name is Josh Rashiz.

0:13.3

I am your host and today we're going to talk about some of the recent news regarding

0:18.6

a proposal by President Biden in the United States, as well as a bill in the Senate submitted

0:25.5

by Senator Elizabeth Warren, advocating that all banking and financial institutions report

0:36.5

to the federal government and to the IRS all of the monthly inflows and outflows of those

0:44.9

accounts.

0:45.9

This is part of the overall press towards increasing for the government, trying to figure out how

0:52.4

to increase the tax revenues and then trying to go after allegedly, go after tax evasion.

0:59.5

We're going to begin in today's show with an overview of the actual news articles,

1:05.1

the history, and the legislation, and I'm going to share with you specifically where

1:10.0

I think this is going to go, and perhaps more importantly, some of the things that

1:14.5

I believe that you can do about this particular issue.

1:20.7

As we begin, I have an important announcement, however, to let you know that for the first

1:25.6

time in about six months, I am going to be offering paid consulting once again.

1:32.8

If you have been wanting to get my attention, if you have been wanting to reach out and

1:36.5

speak to me for some aspect of financial consulting, business consulting in some way, I am now

1:43.7

available to you.

1:44.8

You can book a call by going to radicalpersonalfinance.com-consult, radicalpersonalfinance.com-consult.

1:52.8

Why you ask might you want to do that?

...

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