IRS Reporting Provision Not Included in US House Version of Build Back Better

Last Friday, the US House passed the Biden Administration’s Build Back Better bill. The IRS reporting provision WAS NOT included in this version, marking a tremendous victory for credit union advocacy. The bill will now move to the Senate, where it is expected to undergo significant revisions and will most likely come back to the House for a vote looking very different than it does now. MnCUN will continue to monitor the bill’s progress and keep up our communications with our Minnesota Senators but we’re cautiously optimistic that the IRS reporting provision is effectively dead.
 
Thank to our credit union advocates for voicing opposition on this issue.