Changes to Bank Account Reporting, Tourists Could Be Banned from Some Hawaii Beaches, Issues with Brex Referrals & More

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News Roundup

This is a roundup of news that I have come across during the day. Read about why the IRS could soon know a lot more about your bank accounts, Hawaii may ban tourists from best beaches on weekends, Southwest returns to Costa Rica, new Disney Cruise Line ship, and issues with sharing Brex referrals.

Under Biden Plan, The IRS Would Know A Lot More About Your Bank Accounts

The American Families Plan calls for banks and other financial institutions to report more than just a taxpayer’s interest earned, capital gains and losses. Banks and other financial institutions would also be required to report “aggregate account outflows and inflows.” In other words, the IRS will know about all of your bank accounts, whether you earned income on that account or not, how much is in the account in a given year, and how much was transferred in and out of the account. It is unclear how this would work, but what is clear is that this new reporting obligation will create a massive compliance effort on the part of financial institutions, and eliminate a massive blindspot that the IRS is currently enduring.

Southwest Airlines Returns To Costa Rica In June

Southwest Airlines announced a return of daily service to both international airports in Costa Rica: Liberia, Guanacaste (LIR), and the capital region, San Jose (SJO), beginning in June 2021, bringing back legendary Southwest® Hospitality, low fares, and bags fly free®*. “We’re excited to continue reestablishing previously served international service by reuniting the warm Hospitality of Costa Rica with the Heart and value of Southwest,” said Andrew Watterson, Southwest Airlines Executive Vice President & Chief Commercial Officer. “We’re seeing more demand for our international routes that already take our Customers to Aruba, Cancun, Cozumel, Havana, Los Cabos, Montego Bay, Puerto Vallarta, and Punta Cana.”

Hawaii May Ban Tourists From The Best Beaches On Weekends

John de Fries, the head of [Hawaii Tourism Authority], says on every island there are hotspots that can get overcrowded and congested with traffic. “What we’ve asked [local governments] to consider is whether or not there are certain hotspots or certain areas that maybe belong to local residents only on Saturday and Sunday,” said De Fries.

New Disney Cruise Line Ship Coming in Summer 2022

When the Disney Wish sets sail in summer 2022, families will discover a mesmerizing new world created especially for them: a celebration of Disney’s rich legacy of enchanting storytelling that brings to life the fantastical worlds and beloved characters at the heart of Disney, Pixar, Marvel and Star Wars adventures like never before. Families will embark on a splashtacular adventure with Mickey Mouse and Minnie Mouse aboard the first-ever Disney attraction at sea; revel in a royal celebration during a theatrical dining experience with “Frozen” friends; team up with the Avengers on a Marvel cinematic dining adventure; and travel to a galaxy far, far away in a first-of-its-kind Star Wars experience on board a Disney ship.

Issues with Sharing Brex Referrals

The Brex card launched with a huge bonus that was worth $1,100 or more, and then recently it offered yet another opportunity to earn an additional 100,000 points ($1,000 worth). You can also refer friends to sign up for the Brex card and earn a $250 bonus. But apparently that can cause problems. The Miles Man says he received a cease and desist email from Brex’s legal counsel to take down a blog post containing the Brex logo and a referral link.

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