Starting on January 1st in 2012, S federal law will require coin and bullion dealers to report to the Internal Revenue Service all gold and silver coin purchases and sales greater than $600. No that is not an error, they tacked the gold coin tracking regulations into the health bill. What has happened is that effective Jan. 1, 2012 , the whole system of giving and receiving Internal Revenue Service 1099 forms will be turned on its head. The responsibility for issuing forms kicks in at $600 for coins or bullion.
(I have read the total text of the so called"Obamacare" nightmare. This so called “Health Care Bill” has so many legal worm holes that burrow in so many different directions that it is easier to find subjects like tracking of gold purchases than it is to find any thing that actually has to do with health care. Ask yourself…do you feel this government is caring for your interest in any way at all??)
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