The IRS plan for the $10k bank reporting is for people with $100MM in assets and over

The IRS plan for the $10k bank reporting is for people with $100MM in assets and over


tldr; Democratic leaders are considering a tax on unrealized capital gains for the ultra-wealthy to pay for President Joe Biden’s social spending plans. The proposal would cover not only stocks, but also other assets like real estate. It would affect people with $1 billion in assets or those who have reported at least $100 million in income for three consecutive years.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*





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