Well, only if you live in Alabama, Alaska, Arizona, Arkansas,
California, Connecticut, Georgia, Idaho, Illinois, Indiana, Kansas,
Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota,
Nebraska, New Jersey, New York, North Carolina, Ohio, Oregon,
Pennsylvania, South Dakota, Tennessee, Texas, Utah, Vermont,
Washington, West Virginia, Wisconsin, Wyoming and Puerto Rico…
The Service announced that those 33 states and Puerto Rico have reached an agreement with IRS to begin sharing Bank Secrecy Act (BSA)
information. This will allow the IRS and the participating
states to share information to ensure that
money services businesses (MSBs), non-bank financial institutions that provide financial
services such as currency
exchangers, check cashers, issuers of traveler’s checks or stored value
cards, and money transmitters, are complying with federal and
state responsibilities to register with the government and report cash
transactions and suspicious activities.
Colorado, Hawaii, Montana, New Hampshire, New Mexico and Montana did not sign such an agreement since either state law
prohibits them from doing so or they do not regulate the industry.
The information the IRS and the states may share under these agreements
is limited to Bank Secrecy Act examination information and not personal tax
information.
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