The new IRS reporting threshold is absolutely absurd. Think about it — someone transfers $1,000 between their own checking and savings via Zelle. A spouse sends rent money to their partner's account. Are these everyday transfers now being flagged as taxable income?

This $600+ reporting mandate creates a bureaucratic nightmare for ordinary transactions that have zero tax implications. We're talking about personal money movement, not unreported earnings. The system treats routine financial activity like suspicious behavior, which raises serious questions about privacy and overreach in traditional finance.