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.
