The New Reporting Requirements for Financial Institutions

A rule change that was snuck into the american rescue plan and actually took effect on January 1st. Previously, a these these third party payment processes like ven mo and cash ap and pay pal, had to file ten 99 when or issue ten 99 when yo had an account with transactions over 20 thousand dollars and over 200 transactions a year. That has been reduced to 600 dollars now. And that means yo, you're going to sweep in a whole lot of data about in a pretty low levelof transactions.