Lizeth GeorgeCredit unions in Alabama, Florida, and Georgia remain adamantly opposed to efforts to require financial institutions to report to the IRS on transactions of $600 or more. This provision, which would be incredibly burdensome to financial institutions, is intrusive to consumers and grants unwarranted access to the IRS.
As of Monday, October 25, nearly 130,000 contacts to Congressional offices had been made by credit union members in Alabama, Florida, and Georgia marking staunch opposition to the proposed reporting requirement.
We continue to hear from members of Congress who are undecided on how they will vote, so please continue encouraging your members to reach out to lawmakers because it is truly making a difference in changing the course of direction this proposal will take.
Contact can be made through the LSCU Action Center.
For questions, please contact our Advocacy team.
