WEBB CITY, Mo. — Legislators are looking to pass a new plan, they hope will close the tax gap.
But not everyone is on board with what they have in mind, including a Webb City tax accountant.
Opponents say it means less privacy and more inconvenience. That’s because the I.R.S will have complete access to many people’s bank accounts.
In an effort to better identify those who report their actual income and pay their taxes from those who don’t, lawmakers want to put the “tax gap” in the hands of the I.R.S.
By doing this, the I.R.S. Would increase funding by 80-billion dollars — and have access to your bank accounts if you have as little as 600 dollars.
“To give the I.R.S. complete access to all of our personal bank accounts is just a huge violation of privacy. I don’t know who’s gonna wanna do banking at that point,” said Elizabeth Crane, Liz’s Tax Service Owner
“There’s tremendous amount of privacy concerns on it. It’ll be like getting your bank statement and then calling up uncle Joe, or taking a picture of it and texting it to Uncle Joe Biden and saying ‘here, you want to see every single transaction I made this month, here it is, see if I did something illegal so I can pay you more tax, it’s ridiculous,” said Rep. Billy Long, (R-Mo) 7th District.
The plan is currently in the hands of Congress.
Representative Billy Long adds it’s an outrage that this is happening.