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Democrats pitch scaled-down U.S. bank tax reporting requirement

U.S. Senate Democrats on Tuesday unveiled a scaled-down version of a proposal to crack down on wealthy tax cheats after intense bank lobbying, although the industry still called the plan onerous and problematic. The provision, part of a broader government spending package, would require banks to report to the Internal Revenue Service any accounts that see activity in excess of $10,000 a year, excluding wages. Banks are not currently required to report such accounts to the IRS.

CDC study shows Pfizer Covid vaccine is 93% effective against hospitalization in 12- to 18-year-olds

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