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Prohibiting New IRS Bank Account Reporting Requirements

This act aims to protect citizens' financial privacy by prohibiting the IRS from implementing new requirements for reporting detailed bank account deposit and withdrawal data. This means banks will not have to provide the IRS with additional information about your transactions beyond what is already legally required.
Key points
Limits IRS access to detailed information about your bank transactions.
Banks will not be required to report new deposit and withdrawal data from your accounts.
Financial privacy of citizens is protected from new forms of surveillance.
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Status:
Expired
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Additional Information
Print number: 117_S_3455
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2022-01-18
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Prohibiting IRS Financial Surveillance Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3455.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-01-18.

What are the main provisions?

Key points include:

  • Limits IRS access to detailed information about your bank transactions.
  • Banks will not be required to report new deposit and withdrawal data from your accounts.
  • Financial privacy of citizens is protected from new forms of surveillance.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 235.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Security