Washington, D.C. – -(AmmoLand.com)- Many Second Amendment supporters haven’t heard of the Biden Administration’s proposal to greatly widen IRS reporting requirements regarding bank accounts. In essence, if you have more than $600 in your account, or you make more than $600 in transactions in a year, the bank has to report the transactions to the IRS. That’s just about everybody.
This is one of the most dangerous below-the-radar threats to the Second Amendment we’ve seen. For starters, this adds a massive reporting requirement for banks and financial institutions. Just what sort of Second Amendment-related financial activities will get reported? Here’s a short list:
- Ammunition purchases.
- Donations to pro-Second Amendment groups
- Firearms purchases
- Purchases of firearms accessories
Congratulations, the IRS can start drawing up a list of gun owners, all thanks to the transaction data they force banks to hand over. What could possibly go wrong?
Click the link to read the whole article: Multiple Dangers To Second Amendment