IRS Reporting Proposal
We care about you, your finances, and your account with our community bank, and we believe your financial information should remain confidential. There is legislation being proposed in Washington, D.C. that would require financial institutions like ours to report a larger range of information about your account to the IRS, and we want to make you aware of this proposal.
This new reporting plan could force banks to report the deposits and withdrawals on all personal and business accounts with a balance of $600 or more, regardless of tax liability. If passed, PCB would be required by the federal government to report your account information to the IRS.
As your community bank, we want you to know the facts, especially when it concerns public policy developments that expose your financial privacy. Please know, the entire team at PCB is advocating for you and doing our part to let our representatives know – we serve our customers and community, not the IRS.
If you want to make your voice heard by policymakers or learn more about this proposal, click here. Please, contact us below if you have any questions. We thank you for being a loyal customer!