CUs join industries opposing IRS proposal
Published by: Sean Brown
October 6, 2021 | Political Action
When it comes to the burdensome IRS reporting requirement proposal, the Credit Union Movement may have won the battle, but is far from winning the war. The League has already called you to action and asked you to hike the hill, and more recently, the League joined forces with seven other industries in urging both U.S. Senator Rob Portman (R-Ohio) and U.S. Senator Sherrod Brown (D-OH) to oppose any efforts to advance this IRS reporting requirement. Besides credit unions, here’s a list of other industries opposed to the effort:
- Ohio Bankers League
- Ohio Business Roundtable
- Ohio Chamber of Commerce
- Ohio Contractors Association
- Ohio State Medical Association
- Ohio Society of CPAs
- Ohio Trucking Association
While this provision was omitted from the bill during the U.S. House Ways & Means Committee markup, that does not mean it could not reappear at any time before the legislation is enacted. The League will continue to zealously advocate how this proposal poses operational challenges and privacy concerns that would impact credit union members.
Read the letter and connect with League Regulatory Affairs Director, Sean Brown, for any questions or concerns regarding the IRS proposal.
Contact Sean Brown for questions or assistance.