AL HR16

Alabama House opposes the Biden Administration's proposed tax information reporting requirement that would require financial institutions to report IRS data on all bank accounts with total deposits and withdrawals of at least $600.

The resolution argues the proposal violates constitutional privacy rights and constitutes a warrantless breach of private personal information without clearly articulated justification.

The bill criticizes the Office of the President, Treasury Department, and IRS for failing to provide satisfactory assurances regarding how reported data would be stored, protected, and used.

Copies of the resolution shall be delivered to President Joe Biden, IRS Commissioner Charles Rettig, Treasury Secretary Janet Yellen, and all members of the Alabama Congressional Delegation.