A02669
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE RESOLUTION
No.
150
Session of
2021
INTRODUCED BY MERCURI, ARMANINI, BERNSTINE, CAUSER, SCHLEGEL
CULVER, ECKER, GAYDOS, GILLEN, GLEIM, GUENST, HAMM, HELM,
JONES, KAUFFMAN, KERWIN, R. MACKENZIE, MILLARD, MIZGORSKI,
MOUL, E. NELSON, OWLETT, PENNYCUICK, PICKETT, RIGBY, ROAE,
RYAN, SANKEY, SAYLOR, SMITH, SONNEY, STAMBAUGH, TWARDZIK,
C. WILLIAMS, ZIMMERMAN, ORTITAY, WARNER, R. BROWN AND RAPP,
OCTOBER 21, 2021
REFERRED TO COMMITTEE ON COMMERCE, OCTOBER 21, 2021
A RESOLUTION
Urging the Congress of the United States to oppose the Treasury
Department's proposal to change Internal Revenue Service
reporting requirements, which would unnecessarily and
harmfully affect financial institutions and their customers
in this Commonwealth.
WHEREAS, The Treasury Department has proposed a change to
Internal Revenue Service reporting requirements that would
require financial institutions to report the total dollar amount
of incoming and outgoing transactions from each customer account
with gross inflows and outflows of more than $600 that have
reached a certain threshold in a tax year to the Internal
Revenue Service; and
WHEREAS, Under the proposed reporting requirement, a
financial institution must report an itemization of physical
cash, transactions with foreign accounts and transfers to and
from another account with the same customer when the
transactions to and from the account have reached a certain
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