IRS proposal would see banks report yearly total flows over $600 from accounts to combat tax evasion, fact-checkers report A proposal by the Biden administration to increase tax enforcement and combat tax evasion would see banks report to the Internal Revenue Service (IRS) total inflows from bank accounts each year that are over $600, according to fact-checkers. Treasury Secretary Janet Yellen estimates that over the next decade around $7 trillion will be lost to tax evasion.   it was posted ...