Gold Coin Sellers Angered by New Tax Law
 

The ANA is asking people to write and oppose the gold coin tax. But
good nazis like Frank Provasek continue to deny the truth, that his
messiah would ever do such a thing.

http://www.money.org/AM/Template.cfm...ontentID=15574


The following are messages, developed by the Industry Council for
Tangible Assets (www.ictaonline.org) that can be sent to your
representative (HR 5141) or senator (S 3578).


Version for Collectors/Investors


Subject: SUPPORT (either HR 5141 or S 3578): Small Business
Paperwork Mandate Elimination Act

Please repeal the new IRS Form 1099 requirement found in Section 9006
of Public Law 111-148, the Health Care Reform Act, that requires all
small businesses to issue a tax information reporting form to
virtually all of their customers and vendors, including corporations.
This will be devastating to all small businesses.

This new law creates a monumental increase in paperwork for small
businesses already overburdened by government regulation and reporting
requirements.

In addition, I will be required to give my confidential tax ID
information to many businesses that may not be capable of keeping this
information secure. I am concerned about identity theft as I am
required to provide my Social Security number and other identifying
information when conducting transactions. When showing my driver’s
license as proof of identity, the license includes my name, address
and date of birth!

I urge you to co-sponsor HR 5141 (or S 3578) to prevent this business
and personal security nightmare.




Version for Dealers


Subject: SUPPORT (either HR 5141 or S 3578): Small Business Paperwork
Mandate Elimination Act

Please repeal the new IRS Form 1099 requirement found in Section 9006
of Public Law 111-148, the Health Care Reform Act, that requires all
small businesses like mine to issue a tax information reporting form
to virtually all of our customers and vendors, including corporations.
This will be devastating to my small business.

I buy and sell rare coins, currency, precious metals, and collectibles
that I purchase for my inventory from hundreds of other dealers, as
well as from my retail clients. (Other than a few items that can be
obtained from the U.S. Mint, these are the only sources of my
merchandise.) This new 1099 provision will require me to file
hundreds, if not thousands, of forms. Further, it is not simply a
matter of completing the form, but also the work and time involved in
obtaining the proper tax identification number and dealing with backup
withholding requirements.

In addition, I will be required to obtain confidential tax ID
information from my colleagues and customers and also be responsible
for safekeeping that confidential data.

I urge you to co-sponsor HR 5141 (or S 3578) to prevent this business
and personal security nightmare.

Gold Coin Sellers Angered by New Tax Law
 

This piece of **** president has gone too far, the best way to deal with it
is guerrilla warfare. Send the IRS tens or hundreds of millions of 1099's
for every single transaction for any amount of money. Print the company name
on the 1099, give it to the seller and let them fill out the rest. Send all
the crapola to the IRS and let them figure it all out. B&M dealers will be
most affected by this. At smaller coin shows, cash is king and I can't think
of a single dealer I know that's going to bother with this BS if the seller
pays him in cash. No one is looking over your shoulder so the heck with the
Feds. If this takes effect, it won't be long before the IRS will be begging
the Congress to repeal this once semi-trailer loads of 1099's start to
arrive at service centers.

Gold Coin Sellers Angered by New Tax Law
 

On Aug 23, 1:21*pm, Steve wrote:
The ANA is asking people to write and oppose the gold coin tax. *But
good nazis like Frank Provasek continue to deny the truth, that his
messiah would ever do such a thing.


This is from the new RIA thomson/reuters IRS-approved continuing
professional education material
on the changes caused by healthcare reform:

-----

In general, all persons engaged in a trade or business must file with
the IRS an information
return for payments made to another person in the course of the
payor’s trade or business that
constitute fixed or determinable income aggregating $600 or more in
any tax year. Payments
are those for: salaries, wages, commissions, fees, and other forms of
compensation for
services rendered amounting to $600 or more in a tax year; and
interest, rents, royalties,
annuities, pensions, and other gains, profits, and income amounting to
$600 or more in a tax
year. The payor also must provide the payment recipient with an annual
statement showing
the aggregate payments made and contact information for the payor.

New Law: For payments made after December 31, 2011, notwithstanding
any IRS regulation
issued before March 23, 2010, for information reporting purposes,
“person” includes any
corporation that is not exempt from tax under Code Sec. 501(a). (Code
Sec. 6041(h), as
amended by Health Care Act Sec. 9006(a)) Thus, a business must file an
information return
for all payments aggregating $600 or more in a calendar year to a
single payee (other than a
payee that is a tax-exempt corporation.)
-----

See, the "NEW LAW" changes "persons" to include "corporations"
Persons have already been required to file these forms since 1991.
This hoax stems from a Cato Institute press release by Chris Edwards
who interprets such phrases as "all payments" to mean "everything."
But it's clear from the context that these "payments" are those only
in the
scope of the regulation: salaries, wages, commissions, fees,
interest, rents, royalties,
annuities, pensions, and other gains, profits, and income.

Gold Coin Sellers Angered by New Tax Law
 

JESUS CHRIST Frank, you are dense and ignorent.....

Yes, that section is a statement of the CURRENT 1099 law.

The changes contained in the Obama healthcare takeover are ammended
that to reflect ...form your very own post....Beginning 2012, it is
for ALL payments!

Gold Coin Sellers Angered by New Tax Law
 

On Aug 23, 3:04*pm, Frank Provasek wrote:
On Aug 23, 1:21*pm, Steve wrote:

The ANA is asking people to write and oppose the gold coin tax. *But
good nazis like Frank Provasek continue to deny the truth, that his
messiah would ever do such a thing.

Hey Provasek, how come google shows 300,000 web pages that you are
full of ****. You libs just cover your ears and shut your eyes when
reality conflicts with what the messiah says.