As CUNA reported on Monday, the Senate Finance Committee released the tax provisions of the Build Back Better Act Saturday without expanded Internal Revenue Service (IRS) reporting requirements. CUNA, Leagues, credit unions, and members helped keep the expanded requirements out of the House-passed Build Back Better Act.
MnCUN will continue to monitor the bill’s progress but the provision is unlikely to move forward in the Build Back Better Act.
Thank to our credit union advocates for voicing opposition on this issue.
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