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13
YOLOSwag_McFartnut 13 points ago +13 / -0

Time to split my paycheck across multiple accounts at multiple credit unions.

12
NeverNotTrump 12 points ago +12 / -0

It's any account with a balance of more than $600. Time to start keeping your paycheck under the mattress.

11
Liberty4All 11 points ago +11 / -0

According to this article: https://www.americanbanker.com/news/banks-escalate-fight-over-irs-reporting-in-biden-budget-plan it's even worse than that:

It could result in banks having to report transaction data for any account with at least $600 of inflows or outflows annually.

$600 in total transactions annually. That covers basically every account except little kids' personal savings accounts.