Yellen on $600 IRS reporting requirement: 'There's a lot of tax fraud and cheating that's going on.'

Yellen on $600 IRS reporting requirement: 'There's a lot of tax fraud and cheating that's going on.'


Treasury Secretary Janet Yellen continues to defend the Biden administration's proposed requirement for banks to report every transaction of $600 or more to the IRS, saying, "There's a lot of tax fraud and cheating that's going on."