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Debt collectors really hate Biden’s IRS reporting proposal for banks

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Add debt collectors to the list of people who are not happy about a Biden administration plan that would require banks to report account data to the Internal Revenue Service.

In a letter to House leaders on Monday, ACA International, the trade group that represents the collection industry, joined 40 other groups in the banking and business industries to urge lawmakers to scrap the proposal.

“While the stated goal of this vast data collection is to uncover tax dodging by the wealthy, this proposal is not remotely targeted to that purpose or that........

© Fast Company

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