ARA Signed a Letter to Congress Opposing New Tax Reporting Proposal

Oct 14 2021

ARA signed a letter to leaders in Congress opposing the inclusion of a new tax information reporting proposal in the Build Back Better Act.

This proposal would directly impact almost every American and small business with an account at a financial institution. Serious financial privacy concerns, increased tax preparation costs, and significant operational challenges are some of the negative outcomes of this proposal.

"We believe that this program is costly for all parties, not fit for purpose, and loaded with the potential for unintended and serious negative consequences," says ARA and the undersigned organizations on the letter.