BREAKING: IRS Spying Announcement Rocks Nation – Chief Speaks Out

The Internal Revenue Service (IRS) is being accused of spying after releasing a plan to monitor all transactions of $600 or more.

During an interview about this new plan, Treasury Secretary Janet Yellen was asked if it was spying.

“Absolutely not,” said Yellen. “I think this proposal has been seriously mischaracterized. The proposal involves no reporting of individual transactions of any individual. The big picture is, look, we have a tax gap that over the next decade is estimated at $7 trillion. Namely, a shortfall in the amount the IRS is collecting due to a failure of individuals to report the income that they have earned.”

Yellen said in a previous interview, “If somebody reports an income of $10,000 and they had 3 million [dollars] go out of their checking account, that tells the IRS that’s an individual you might audit.”

Yellen said the aim was directed at high-income earners.

High-income individuals with opaque sources of income that are not reported to the IRS, there is a lot of tax fraud and cheating that is going on. All that is involved in this proposal is a few arrogate numbers about bank accounts, the amount that was received in the course of a year, the amount that went out in the course of a year.

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  7. She, just like the rest of the democrats/liberals! They WILL be spying on hapless conservatives. A lot of people get checks in their account over that much every month! You don’t think they will be trying to steal what we have! She, like the rest of them have stepped way over the line, and need to be removed from office!!!

  8. Yeah, right. They’re going after BILLIONAIRES by monitoring $600 transactions. These people don’t even bother to make their LIES believable! Like I’ve said before, when you hear the conniving Demmunists bloviating about “taxing the rich,” you better hang onto your wallet, because their definition of “rich” is “anybody who has a job.”

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