Should the IRS Monitor your Bank Account? (2024)

FIGHTING FOR FINANCIAL PRIVACY

I cosponsored the Protecting Financial Privacy Act to prohibit the Internal Revenue Service (IRS) from accessing and monitoring Americans’ bank transactions above $600.

I won’t stand idly by watching the IRS spy on Americans’ private financial transactions. Last time Joe Biden had an office in the White House, his administration weaponized the IRS to target conservative organizations. That overreach didn’t give him enough control, so now, he is trying to allow IRS bureaucrats to spy on individual Americans’ bank accounts. The federal government has no business monitoring small cash deposits and how Americans pay their bills and has no right to snoop around in private checking accounts without a warrant.

The Constitution is the new White House doormat, but if Biden bothered to give it a read, he’d know that the Fourth Amendment doesn’t allow unreasonable searches.

BACKING THE BLUE

It was great to meet with officers from the Grand Junction Police Department in my D.C. office. Supporting the officers that protect and serve our local Colorado communities is of the utmost importance, and I was honored to host a few of the many courageous first responders that keep our communities safe. I will never fail to listen to the needs of those who go above and beyond in the call of duty to ensure that our communities are places where we can flourish and thrive, knowing that we are safe and taken care of.

I back the blue and always will.

The interests of rural Colorado will always come before the interests of career politicians, and I work tirelessly to ensure that our officers are equipped with the resources they need to accomplish their missions and protect our communities and themselves.

We discussed my MORE PILT Act, which will give more resources to rural communities to offset the tax revenue losses caused by large amounts of untaxable and undeveloped federal land. Additionally, my Active Forest Management, Wildfire Prevention, and Community Protection Act will reinvest 25% of forestry revenue back into rural communities. Combined, these two bills will increase resources for law enforcement, as well as for education, firefighting, infrastructure, and more.

Instead of centralizing power in the federal government, we need to put local communities first. I will keep fighting for you!

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Should the IRS Monitor your Bank Account? (1)

COMBATTING BIDEN’S SELLOUT TO OPEC

I joined 100 of my colleagues in the House of Representatives to call Biden out for emboldening American adversaries and selling us out to foreign interests.

Biden’s recent request to OPEC to increase their oil production is beyond troubling. Sending out pleas to anti-American tyrants projects an image of weakness and faltering American resolve. Instead of taking a serious look at boosting the American economy by creating energy jobs on U.S. soiland expanding access to American oil and gas reserves, Biden would rather drill overseas and support our enemies.

From canceling the Keystone XL pipeline to proposing a ban on domestic fracking and declaring a moratorium on oil and natural gas leases on federal lands and waters, Biden has shown time and time again that he hates American energy workers and will do everything in his power to ensure that American energy security is a thing of the past. If we don’t reverse Biden’s executive orders, Colorado will lose over 200,000 jobs in the next 20 years.

I am working for long-term American energy dominance and introduced the Protecting American Energy Jobs Actand filed a discharge petition to nullify and defund Biden’sjob-killing executive orders.

DEMANDING ANSWERS FROM ATTORNEY GENERAL MERRICK GARLAND

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Should the IRS Monitor your Bank Account? (2)

I led an effort demanding accountability from Attorney General Merrick Garland for his disturbing and unconstitutional weaponization of the FBI by labeling parents “domestic terrorists” for exercising their First Amendment rights.

“Terrorists” used to be violent extremists, but the Biden regime is most worried about a particular brand of “terrorist”—the type that drive minivans to pick their kids up from school. Rather than searching in the dark alleys of Kabul, Joe Biden apparently can find these more sophisticated terrorists lurking at PTA meetings, soccer practices, and school board hearings. If you ask Attorney General Garland, their sinister plan isn’t something trivial like a suicide bombing or a hijacking (those are outdated methods for the terrorists of yesteryear)—rather, they threaten to challenge woke orthodoxy.

What did these parents do wrong? They didn’t threaten democracy—they threatened Merrick Garland’s family’s wealth.

Garland’s son-in-law is the co-founder of the Mark Zuckerberg-backed company Panorama Education. Just in case Facebook doesn’t already mine enough data from our children, Panorama Education conducts psychometric screening on children in 1,500 school districts across the country. These “psychometric” exams ask young children inappropriate questions like, “Do you identify as gay, lesbian, bisexual, pansexual, aromantic / asexual, or questioning?”

News flash: Merrick Garland, Mark Zuckerberg, and public-school bureaucrats have no business asking children about their sexual preferences.

The media won’t cover this story, so I am standing up for parents. Last week, I sent a letter demanding to know who is behind the Department of Justice’s decision to weaponize the FBI against parents exercising their First Amendment rights and to know Garland’s ethics recusal list. I will continue to investigate the investigators until Americans get the answers they deserve.

Like any mom, I will never stop standing up for my children.

STANDING UP AGAINST BIDEN AND PELOSI’S SPENDING DISASTER

Nancy Pelosi is blaming the liberal media for not selling the American people on her $7 trillion fast track to socialism. The fact is, the American people know what she’s selling, and they don’t want it.

Americans struggling with debt don’t want to pay for the horrible ideas in these two bills, including:

  • Free college for illegal aliens
  • Extra funding so the IRS can monitor all of your bank account transactions
  • The Civilian Climate Corps
  • Electric school buses
  • Salmon recovery
  • Charging stations for AOC’s Tesla
  • Money for Nancy Pelosi’s favorite golf course and hotel
  • Programs to increase the number of female truckers
  • Installing WiFi in federal prisons so the Boston Bomber can stream Netflix
  • Destroying roads to increase congestion to incentivize people to take public transportation

And SO. MUCH. MORE

DELIVERING REAL INFRASTRUCTURE SOLUTIONS

We can all agree that America’s infrastructure needs improvement, but we can do it without Biden’s corporate welfare package. My American Infrastructure Modernization Act would reallocate $650 billion—almost 6 times more than the funding for actual infrastructure in Biden’s garbage bill—from unspent COVID stimulus money to infrastructure. This targeted, efficient infrastructure bill actually works for America, and it delivers results without raising taxes or increasing government spending by even 1 cent since it uses already appropriated funds.

PUTTING THE PRESSURE ON BIDEN FOR AFGHANISTAN

I joined Jody Hice and 10 of my fellow Republicans in demanding that the U.S. Department of State and Office of Management and Budget speed up the process of evacuating all the remaining Americans and our Afghan allies that the Biden regime abandoned in Afghanistan. Biden and his cohorts have already failed these people once by allowing them to be trapped, and I will not let Bidenfail them again. The State Department has been dragging its feet to rescuethe people it is their duty to save, but my colleagues and I are lighting a fire under them to bring all Americans home by any means necessary.

And, as I mentioned in my last newsletter, I filed Articles of Impeachment against Joe Biden and Kamala Harris for their dereliction of duty that left innocent men and women dead, including thirteen of our brave service members.

BULLET POINTS WITH LAUREN BOEBERT: EPISODE 2

BOEBERT BLAST

Fox News, Lauren Boebert knocks Pelosi's attempt to sell Biden agenda

“Does Fancy Nancy want the media to sell taxpayer dollars paying for the college education of millionaire families to Ivy League colleges? $200 million dollars to Nancy Pelosi's favorite park, the Presidio amnesty to millions of illegal aliens. Yeah. A more intrusive IRS scanning through your financial transactions. This bill is crap.”

Breitbart, Exclusive: Lauren Boebert Demands DOJ Show Data Behind Decision to ‘Attack American Parents’ Who Oppose CRT

“While your family is personally benefiting from the exact kind of propaganda these parents are protesting, you are using your immense power as Attorney General to stifle their First Amendment rights. While your actions are unconstitutional, you should have recused yourself from this matter given the clear conflict of interest.”

Independent Journal Review, Lauren Boebert Blasts Pelosi for Telling the Media They Could 'Do a Better Job' Selling Biden's Spending Plan

“Boebert said she is waiting for Pelosi to ‘start recruiting timeshare salesmen to start passing her legislation.’”

Law Enforcement Today, Rep. Lauren Boebert writes AG Garland, demands data backing his memo on “threats of violence” by parents protesting CRT

“Boebert addressed the ‘elephant in the room,’ namely Garland’s family connection to Panorama Education, which is heavily involved in the pushing of critical race theory in America’s classrooms. Garland’s son-in-law, Xan Tanner is the owner of Panorama, therefore Garland’s family financially benefits from the pushing of critical race theory and other ‘equity’ programs in America’s schools."

Fox News, Sleepy Joe's Cargo Boat Parade

MOBILE OFFICE HOURS

My office has managed over 700 cases for Coloradans having issues with the federal government, and to date, my office has returned $320,000 to constituents in the District.

If you are having issues with a federal agency, want to share your story, or want your voice to be heard, please come to my staff’s mobile office hours, and we will be happy to assist you. My office helps veterans with the VA, travelers having difficulties applying for a passport, taxpayers being harassed by the IRS, senior citizens having issues with Social Security or Medicare, and people having other problems with federal agencies.

Monday, October 18, 2021
Rio Grande County Mobile Office Hours

South Fork Town Hall

28 Silver Thread Lane

South Fork, CO

3:00-4:00 pm

Monday, October 25, 2021

San Juan County Mobile Office Hours

Grand Imperial Hotel

1219 Greene Street

Silverton, CO

10:00-11:00 am

La Plata County Mobile Office Hours

Ignacio Public Library

470 Goddard Avenue

Ignacio, CO

2:00-3:00 pm

Tuesday, October 26, 2021

Huerfano County Mobile Office Hours

Huerfano County Court House

401 Main Street, Suite 202

Walsenburg, CO

1:30-2:30 pm

Should the IRS Monitor your Bank Account? (2024)

FAQs

Should the IRS Monitor your Bank Account? ›

The IRS probably already knows about many of your financial accounts, and the IRS can get information on how much is there. But, in reality, the IRS rarely digs deeper into your bank and financial accounts unless you're being audited or the IRS is collecting back taxes from you.

Does the IRS monitor your bank account? ›

The Supreme Court's answer is yes. Under an existing statute, the IRS can secretly probe your bank records and potentially your relatives' bank records without notice.

What bank account can the IRS not touch? ›

Any bank accounts that are under the taxpayer's name can be levied by the IRS. This includes institutional accounts, corporate and business accounts, and individual accounts. Accounts that are not under the taxpayer's name cannot be used by the IRS in a levy.

Do banks report your deposits to the IRS? ›

When Does a Bank Have to Report Your Deposit? Banks report individuals who deposit $10,000 or more in cash. The IRS typically shares suspicious deposit or withdrawal activity with local and state authorities, Castaneda says.

Can the IRS go into your checking account? ›

An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property.

Can the IRS see checks you cash? ›

If you cash your paychecks, you generally don't have to worry about the IRS monitoring your check cashing location.

How much money can I transfer without being flagged? ›

How much money can you wire without being reported? Financial institutions and money transfer providers are obligated to report international transfers that exceed $10,000. You can learn more about the Bank Secrecy Act from the Office of the Comptroller of the Currency.

Where can I cash my IRS check if I don't have a bank account? ›

Cash a Check without a Bank Account
  • Cash it at the issuing bank (this is the bank name that is pre-printed on the check)
  • Cash a check at a retailer that cashes checks (discount department store, grocery stores, etc.)
  • Cash the check at a check-cashing store.

How much money can you have in your bank account without being taxed? ›

There is no set limit to the amount of money you can have in your bank account and not pay taxes. You will pay taxes on your income, including income earned through interest on money in a bank account.

What money does not have to be reported to the IRS? ›

Nontaxable income won't be taxed, whether or not you enter it on your tax return. The following items are deemed nontaxable by the IRS: inheritances, gifts and bequests. cash rebates on items you purchase from a retailer, manufacturer or dealer.

What is the $3000 rule? ›

Rule. The requirement that financial institutions verify and record the identity of each cash purchaser of money orders and bank, cashier's, and traveler's checks in excess of $3,000. 40 Recommendations A set of guidelines issued by the FATF to assist countries in the fight against money. laundering.

Is depositing $2000 in cash suspicious? ›

As long as the source of your funds is legitimate and you can provide a clear and reasonable explanation for the cash deposit, there is no legal restriction on depositing any sum, no matter how large. So, there is no need to overly worry about how much cash you can deposit in a bank in one day.

Can I deposit $8000 cash? ›

If you're headed to the bank to deposit $50, $800, or even $1,000 in cash, you can go about your affairs as usual. But the deposit will be reported if you're depositing a large chunk of cash totaling over $10,000.

Can the IRS see what's in my bank account? ›

The Short Answer: Yes. Share: The IRS probably already knows about many of your financial accounts, and the IRS can get information on how much is there. But, in reality, the IRS rarely digs deeper into your bank and financial accounts unless you're being audited or the IRS is collecting back taxes from you.

Does the IRS get notified when you withdraw money? ›

And if you want to withdraw more than that $10,000 daily cash limit, the bank will report your transaction to the federal government. This cash withdrawal limit might sound unfair, and "mandatory federal reporting" might sound scary. But the truth is less ominous.

What money can the IRS not take? ›

Certain forms of income, however, may be tax-exempt, subject to certain limits and qualifications. Examples of nontaxable sources of income include veterans' benefits and life insurance payouts.

Can the government look at your bank records? ›

Without your consent, a Federal agency that wants to see your financial records may do so ordinarily only by means of a lawful subpoena, summons, formal written request,or search warrant for that purpose.

Can the government access your bank account without your permission? ›

Financial Privacy Laws: Background

In other words, the government could access your bank records without your knowledge or consent. This ruling prompted Congress to pass the RFPA two years later. This federal law requires government officials to follow specific procedures when requesting bank records.

What happens when you deposit over $10,000 in a check? ›

Banks have to report any deposits above $10,000 to the IRS on a form known as the Currency Transaction Report. Yes -- even if it's only $10,000.01. It's not just deposits, either. Banks are required to report any transaction of over $10,000, including withdrawals.

What happens if you transfer more than $10,000? ›

In summary, wire transfers over $10,000 are subject to reporting requirements under the Bank Secrecy Act. Financial institutions must file a Currency Transaction Report for any transaction over $10,000, and failure to comply with these requirements can result in significant penalties.

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