Democrats raise proposed IRS bank reporting threshold to $10,000 from $600

WASHINGTON (Reuters) -Senior Democrats in Congress have agreed to raise their proposed tax reporting threshold for bank account inflows and outflows to $10,000 a year, with exemptions for wage income, from an earlier proposal of $600 that drew criticism for being too intrusive. U.S. Senate Finance Committee Chairman Ron Wyden on Tuesday said the new $10,000 Internal Revenue Service reporting threshold, to be included in Democrats' sweeping "reconciliation" social spending and tax hike legislation, was chosen after consultations with the U.S. Treasury because it is a level frequently used in other bank reporting requirements.

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

  Reuters
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  Democrats Scale Back Their IRS Bank Reporting Plan

  The Fiscal Times

Warren Buffett is holding these stocks for monstrous free cash flow — why you should too

These companies produce the only thing that matters.

EV Charging Stock Plays: Why This Analyst Prefers ChargePoint Over Blink Charging

The electric vehicle revolution that is expected to morph over the next two decades is likely to create several ancillary beneficiaries, and one such subsegment is EV charging infrastructure. Here's what a Stifel analyst has to say about two stocks in the space. The EV Charging Stock Analyst: Stephen Gengaro initiated coverage of ChargePoint Holdings, Inc. (NASDAQ: CHPT) shares with a Buy rating and $29 price target. The analyst initiated coverage of Blink Charging Co. (NYSE: BLNK) with a Neutra

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  ChargePoint: Well-Positioned to Benefit From Growing EV Adoption, Says Analyst

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Gen Xers Get Final Shot At $1.01 Million Backdoor IRA Loophole

Here's your last shot at a great legal loophole: the Roth conversion of after-tax money in retirement accounts. It's also called a backdoor Roth IRA.