The Voice of the Community Since 1909, Serving Moorcroft and Pine Haven, Wyoming
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Few things are more private than your household finances. In his American Families Plan, President Biden unveiled a tax compliance initiative aimed at closing the gap between taxes that are owed and what are paid. Most of the anticipated revenue, which the Administration estimated at $460 billion over 10 years, would come from requiring financial institutions to report account information that Treasury says would be similar to W-2 reporting for wages and other income reporting. The proposal, if enacted, would require banks and other...