Keep My Banking Private
A recent proposal in Washington would require all community banks and other financial institutions to report to the IRS on Business and Personal account transactions of $600 or more regardless of tax liability. Under the proposal Anderson Brothers Bank would be required by the government to report your account information to the IRS.
As your community bank, we want our customers to know the facts, especially when it relates to concerning developments around public policy that exposes your financial privacy. While we do not endorse such broad IRS access to our customer's account information, we want you to be aware of the potential effects of this proposal. We care about you, your finances, and your accounts with Anderson Brothers Bank, so we want to let you know about this concerning proposal taking shape in Washington. If passed, it would require us to report the inflows and outflows on accounts of $600 or more to the IRS.
If you want your voice heard by policymakers or learn more about this proposal, visit Banklocally.org/privacy. We value your trust, business, privacy and want to make sure you have all the information you need regarding your finances and your money.
Here is a video that explains this proposal and its effects. President & CEO of ICBA message
We encourage each of you to write to your Congressman and Senators to express your opposition to this effort. You can go to the quick link below and send a letter to your Representative and Senators in DC.
We proudly join ICBA and others in telling Congress that we serve our customers, not the IRS.
Sample letter is already written for your use or modify it as you see fit. Letters will pre-populate with your representative and senator's title and last name in the salutation and your full name, city & state in the signature.
Our Customers come first.