With all due respect: Tucked away in the 2,300 page bill, in section 9006, is a provision that expands the scope of the Internal Revenue Service (IRS) Form 1099. Beginning Jan. 1, 2012, a Form 1099 will have to be filed to report to the IRS the purchase of all goods and services by small business and self-employed people that exceed $600 during a calendar year. Was this provision recently repealed or something? If it wasn't, that means gold sellers must comply. Gold sellers are businesses are they not?
How many dealers out there are willing to ignore the required 1099 and risk loosing their business or going to prison? There is not one place I know of that is willing to sell without filling it out. Maybe you do, and that's great. Keep buying.
Want DP delivered to your inbox daily? Subscribe here:
Content of posts and comments on the Daily Paul represent the opinions of the original posters, and are not endorsed, approved, or otherw