Bank president: IRS reporting could hurt small businesses
Wed, 10/20/2021 - 1:14pm
By:
Jim Mack, President, Lake City Federal Bank
Our mutual bank that serves the community of Lake City, Wabasha and Goodhue counties wants to let you know about a concerning proposal taking shape in Washington. If passed, the proposal would require financial institutions (banks and credit unions) like ours to report the inflows and outflows on personal and business accounts to the IRS.
Want to read the full article? Full access to lakecitygraphic.com is only $52 per year. Print subscriptions are $58 for Wabasha and Goodhue county residents and $80 anywhere else in the continental U.S. To begin, click here. Already a subscriber? Log in or request an account below.