Politics

Out of context: Reply #13076

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    Remember My Obama Screwed Artists Thread about the expanded 1099 forms?

    Here is a story from ABC about the 1099 forms will now be used for the purchase of gold coins.

    http://abcnews.go.com/Business/g…

    Why do you think they want to track people who buy gold?

    "Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change."

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    • "Gold Coin Sellers Angered by New Tax LawAmendment Slipped Into Health Care Legislation Would Track, Tax Coin and Bullion Transactions"
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    • Hardly matters since Obama is planning to implement Martial Law, right?locustsloth
    • just make multiple transactions of $599? seems like a useless annoyance. why woudl they do such a thing
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    • and why in the health bill...?
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    • Read the article, it's to recover unreported income.Josev
    • yea thats what 1099s are usually for. dont get the difference between 1099s normally and this
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    • just not sure im getting the significance.
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