Biden official dispels the hysteria of the IRS looking at your every transaction. It's false.

[egbertowillies]

Biden's Treasury Department Deputy Secretary Wally Adeyemo dispelled the hysteria of the IRS coming to review your every transaction. It's false

https://egbertowillies.com/2021/10/16/biden-official-dispels-the-hysteria-of-the-irs-looking-at-your-every-transaction-its-false/

[Cracklin Charlie]

1. Of course it's false.

They tried this old chestnut with Obama and Clinton.

They would need at least one IRS agent for every adult in the US. We would all have jobs with the IRS. Ridiculous notion.

[berni_mccoy]

2. Biden did adjust the $600 limit to $10k which is the right call

Having every $600+ transaction monitored would be a major PITA for small business. We don’t need that right now.

These limits on transaction inspection do slow cash flow considerable and the original $600 limit in the bill IMHO was too far.

[MichMan]

3. Why was it originally set at $600 ?

Really poor decision and handed over a talking point for no reason.