Are US banks accounts going to be scanned in 2023?

Hey friends I was doing some research and I came across a post that talked about how our bank account transactions over $600 will be reported, I decided to do some diligence and look into this further and I found out that it’s true.

If this is affecting you, how will you react when it comes into effect 1-1-23?

Sources:

https://home.treasury.gov/policy-issues/tax-policy/revenue-proposals

https://docs.google.com/viewer?url=https%3A%2F%2Fhome.treasury.gov%2Fsystem%2Ffiles%2F131%2FGeneral-Explanations-FY2022.pdf&pdf=true

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