the linked site clearly states this only applies to international account rather than domestic accounts. The Biden administration has, however, provided the IR

the linked site clearly states this only applies to international account rather than domestic accounts. The Biden administration has, however, provided the IRS more power by requiring financial institutions to report transactions over $600 to the IRS, a significant reduction fdown from the previous $10K threshold. This new law went into effect in 2022 and shows the govt’s desire to shake down the middle class for more taxes, while eliminating privacy.