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[Music] if youve been paying any attention to the news the number 600 has been all over currently there was proposal out there to require banks to report any bank account to the irs that had 600 or more in transactions throughout a whole year whether its incoming or outgoing so now actually that threshold so new proposals out there they mixed the 600 now the proposal shows any bank account threshold of ten thousand dollars instead of six hundred dollars so thats semi good news for anybody that was not wanting their six hundred dollar bank account that doesnt have hardly anything in it reported to the irs another key thing is wage earners have been exempt so if you are a w-2 earner you get social security you get retirement income and you dont have a small business youre exempt your bank accounts are not going to be reported to the irs in this under this new proposal thats out there so another piece of good news so lets talk about what would be reported to the irs what is in thi