News on 1099 Reporting
Don Hunt
Tom
doing to us or those who support it
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Coin's for sale/trade.
http://www.usrarecoininvestments.com/coins_for_sale.htm
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Frank Galikanokus
Yano, we are the government, in theory.
One thing to remember, it's We The People not I ME ME MINE!
JAM
Frank Provasek
real estate rental owners are happy, because that's type of income
that will not be reported and the rest of us will have to make up for.
Buying or selling inventory for resale was NEVER part of the new
rules, despite much misinformation being spread.
Years ago, many doctors and attorneys formed CORPORATIONS (LLC or
Subchapter S) to avoid having their income reported to the government.
The 1099 provision was to close the loophole for these one person and
small group "corporations" that allowed them to "be on their honor" to
report all of their income.
And all the misinformation can be traced from a single Cato Institute
white paper on what "might" happen. From that followed the
manufactured "outrage" spread on talk radio, always followed by "snuck
into the health care bill that Obama crammed down our throats" The
non partisan Joint Committee on Taxation actually put that provision
in.
The IRS public affairs office assured me that the reporting
requirements will remain at $1000 face bags of 90% silver, 25 oz or
more of gold coins , or $10,000 cash. I even met with the Fort Worth
based RIA-Thomson company that prepares CPA certification in
conjunction with the IRS, who provided me with the relevant page from
the IRS approved training manual for CPAs. The material was forwarded
to Eloise Ulman of ICTA (I am a member) and the ANA board, who simply
choose to believe Rush Limbaugh and Glenn Beck instead.
Of course, coin dealers profited from spreading this rumor - many
fearful clients exchanged $20 gold pieces for 4 or 5 supposedly
unreportable $2.50 gold pieces...reducing their actual gold holdings
by half.
Bob
I'm not sure that I understand you, Frank; are you saying that the
Senate Democrats (who voted for this in the first place) who now want
it repealed, are dupes of Rush Limbaugh and Glenn Beck? How about
President Obama, who also expressed concern that this provision
overreached? I don't think that you are asking your contacts at the
IRS office the right questions.
Expert
clothing in the night)! Like NoBama's new immigration policy: A series of
policy changes announced by the Department of Homeland Security in 2010
demonstrate that the Obama administration is implementing a stealth
amnesty - halting deportation of illegal aliens - for persons it hopes to
benefit in the future with a permanent amnesty.
Our kind benefactor president (yeah right) never said how many billions it
would cost to keep criminal aliens (entry is a misdemeanor the first time, a
felony on each subsequent visitation) or how many American Citizens lives he
would destroy. He doesn't really give a damn; he's only a puppet on a stage
for banking. If you don't think banks rule the world, try to get a law
changed without their approval.
The president, cabinet, and both houses of congress are leading us down the
path of destruction, but they just do what banking tells them to do (if they
didn't people might start having accidents, or just suddenly
disappear-quickly).
Ironic isn't it, everyone's lives are on the line except the banks(they have
their butts covered 16 ways to Sunday). As is sometimes said: "follow the
money" therein you will find the most corrupt sob's on the planet. They are
the power, and their god is greed.
Btw take a good long look at that health care bill sometime...it gives the
federal government new powers it's never had in its history, and never
should have!
And when the civil revolt comes the Fema camps are all in place and our
soldiers are trained to fire on US citizens. You think it couldn't happen in
America?, guess what; the banks knew it would years ago and are ready for
it.
Also take a look at the executive orders the prez signed where anything
there is can be seized by the feds anytime they declare a crisis...anything
you think you own qualifies. Keep telling yourself its a bad dream America
and guess what, the nightmare will get worse.
"Frank Provasek" <fr...@frankcoins.com> wrote in message
news:e3f62278-dc05-4059...@k25g2000vbl.googlegroups.com...