Answer:
ong>Answer by David Dickinson:
I generally don't read proposals and bills until they become final laws (in other words, this is one that I don't know a lot about). However, I believe the difference is simply you won't need to renew the "seasoned customers" every 2 years. That's it.
Answer:
Answer by John Burnett:
One other provision (again, if passed in the current form) is an explicit inclusion of sole proprietorships. The other piece of the bill, the inflation adjuster, has a terrific potential for cutting down on the number of CTRs. The current "more than $10,000" threshold was established in the 1970s. Inflation since then would likely kick the trigger up to greater than $25,000. Don't get your hopes up, the bill could languish in the Senate or be severely altered.
First published on BankersOnline.com 4/30/07
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