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URGENT CALL TO ACTION 1099 REPEAL



 
 
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  #1  
Old November 23rd 10, 04:30 PM posted to rec.collecting.coins
Nick Pyle
external usenet poster
 
Posts: 15
Default URGENT CALL TO ACTION 1099 REPEAL

CALL TO ACTION 1099 REPEAL

On Monday, November 29, the Senate will vote on Senator Mike
Johanns’ (R-NE) proposal to repeal the new Form 1099 filing
requirements. The fully funded proposal will be considered as an
amendment to the Food Safety Modernization Act, S. 510. Senator Max
Baucus (D-MT) has proposed a Form 1099 repeal that is virtually
identical to Senator Johanns’ proposal but lacks an offset to maintain
budget neutrality. Senator Johanns’ amendment directs the Office of
Management and Budget to identify $39 billion in unspent and
unobligated accounts to replace the revenue that might have been
generated by the 1099 paperwork mandate.

Your Action is Needed: Contact your Senators and urge them to support
the Johanns Amendment when it comes up for a vote on Monday, November
29. Go to www.senate.gov or
www.house.gov to find your Members of Congress and their websites.
TELEPHONE 202-224-3121.

Numismatists United for Political Action (NUPA) is a grassroots
organization with a mission to educate and inspire the coin
collecting
community to stand up and be heard in Washington. To learn more about
NUPA and join (its free) our grassroots outreach visit:
http://groups.google.com/group/coincollectorsunited
Nicholas Pyle, Coordinator
Numismatists United for Political Action (NUPA)
Post Office Box 25001
Georgetown Station
Washington, DC 20027-8001
202-333-9190


http://groups.google.com/group/coincollectorsunited
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  #2  
Old November 23rd 10, 08:04 PM posted to rec.collecting.coins
Steve
external usenet poster
 
Posts: 46
Default URGENT CALL TO ACTION 1099 REPEAL

On Nov 23, 9:30*am, Nick Pyle wrote:
CALL TO ACTION 1099 REPEAL

My CPA is Briggs & Veselka here in Houston, and they have assured me
that there is nothing to
this 1099 thing...they have been getting calls all summer from people
believing it requires a paper
form on everything over $600 that a person buys or sells, and that it
is sinisterly aimed at tracking
gold coins, but it applies only to rents, dividends, lawyer fees, and
has no effect on the ordinary
person. Looks like it has been spread on Limbaugh, Hannity, Fox News
and other conservative
outlets.

Why are you still spreading misinformation?
  #3  
Old November 24th 10, 04:50 AM posted to rec.collecting.coins
JHL
external usenet poster
 
Posts: 55
Default URGENT CALL TO ACTION 1099 REPEAL

as i understand the 2012 1099:
an individual correct no big deal.

a small business will now have to issue a 1099 to (examples
only)
the power company
the gas company
the office supply store
the cell phone company
the landline company
sam's club
walmart
billly bob's catering
every gas station they buy more then $600 worth of gas per year.
note not just one 1099 to "big brand gasoline" but every station
since they are likely seperately owned
all their suppliers of goods
all their suppliers of services
etc etc etc

sure, why would this cost more it's only a little paperwork right?


On Nov 23, 2:04*pm, Steve wrote:
On Nov 23, 9:30*am, Nick Pyle wrote: CALL TO ACTION 1099 REPEAL

My CPA is Briggs & Veselka here in Houston, and they have assured me
that there is nothing to
this 1099 thing...they have been getting calls all summer from people
believing it requires a paper
form on everything over $600 that a person buys or sells, and that it
is sinisterly aimed at tracking
gold coins, but it applies only to rents, dividends, lawyer fees, and
has no effect on the ordinary
person. Looks like it has been spread on Limbaugh, Hannity, Fox News
and other conservative
outlets.

Why are you still spreading misinformation?


  #4  
Old November 24th 10, 09:18 PM posted to rec.collecting.coins
Nick Pyle
external usenet poster
 
Posts: 15
Default URGENT CALL TO ACTION 1099 REPEAL

This is from ICTA - google it if you don't know the organisation.

CLEARING UP 1099 CONFUSION

The NEW 1099 Law - IRS Form 1099-MISC
This 1099 law (Section 9006 of the health care bill passed earlier
this year) is scheduled to go into effect January, 2012. Under this
law you will have to report ALL purchases of goods and services over
$600 (including smaller purchases aggregated over the full year.)
Yes, that includes your retail clients, your fellow dealers (no more
corporate exemption), office supply stores, show travel providers
(hotels & airlines), etc.

Small businesses and associations (including ICTA) have protested this
provision so fervently that Congress – and even President Obama – have
acknowledged that it is a problem. Potential fixes include repeal of
Section 9006 (ICTA’s strongly preferred solution), raising the dollar
amount threshold to $5,000, exempting businesses with fewer than 25
employees, and exempting transactions paid for via credit or debit
cards. However, the administration is extremely sensitive to the word
“repeal” as applied to any part of the health care bill.

This is a top priority issue for ICTA, and we will be keeping you
posted on any changes or proposed changes where we may need you to
weigh in with your Members of Congress.

So in layman's terms - if you sell $600 or more to a single dealer in
2012 they are required to file a 1099 form with the IRS. That form
includes your ss#. The IRS computers will check income reported by
your 1040 schedule D & E and if you fail to report that 1099 income I
guarantee you will find greetings mail and a possible request to visit
with the IRS if not in person by mail. Your ultimate prize for
failure to report is time share from club fed. google Wesley Snipes to
learn more about that. For the guy with a top notch accountant in
Houston run this by them for confirmation that this isn't issue. Also
check with the US Chamber of Commerce and National Federation of
Independent Business websites. I repeat you need to find a new
accountant otherwise.

For those of you who question my motives, I am indeed a Federal and
state government relations expert. I used to be a lobbyist but that
term doesn't carry much water. I am also a life long coin collector,
vest pocket dealer with an eBay store search napyle, Nick's Morgan
Stop. I am a life member of ANA, Virginia Numismatics Association,
the National Silver Dollar Round Table, Original Hobo Nickel Society,
supporter of ICTA and an affliate member of the Professional
Numistmatist Guild. I also am the volunteer political Director for
Gold & Silver PAC see GoldandSilverPAC.org for more about that and the
nine key issues for the coin, currency and precious metals community.

My best wishes to all for a Hapy Thanksgiving. I urge you take a
minute and link to your Senators offices to send a message about 1099
repeal - the Johann's or Baucus proposal - both work to solve the
issue.
  #5  
Old November 24th 10, 10:04 PM posted to rec.collecting.coins
mazorj
external usenet poster
 
Posts: 1,169
Default URGENT CALL TO ACTION 1099 REPEAL

Thank you for clarifying your connection to numismatics. I see now that
your motives are well founded and can be taken at face value.

So I do apologize for (almost) jumping the gun. However, as a long-time
resident and participant in the DC lobbying scene, I'm sure that you
understand why my initial (if erroneous) suspicions were raised. Capitol
Hill has more bogus front groups crawling its halls than a Bowery flop-house
has bed bugs.

"Nick Pyle" wrote in message
...
This is from ICTA - google it if you don't know the organisation.

CLEARING UP 1099 CONFUSION

The NEW 1099 Law - IRS Form 1099-MISC
This 1099 law (Section 9006 of the health care bill passed earlier
this year) is scheduled to go into effect January, 2012. Under this
law you will have to report ALL purchases of goods and services over
$600 (including smaller purchases aggregated over the full year.)
Yes, that includes your retail clients, your fellow dealers (no more
corporate exemption), office supply stores, show travel providers
(hotels & airlines), etc.

Small businesses and associations (including ICTA) have protested this
provision so fervently that Congress – and even President Obama – have
acknowledged that it is a problem. Potential fixes include repeal of
Section 9006 (ICTA’s strongly preferred solution), raising the dollar
amount threshold to $5,000, exempting businesses with fewer than 25
employees, and exempting transactions paid for via credit or debit
cards. However, the administration is extremely sensitive to the word
“repeal” as applied to any part of the health care bill.

This is a top priority issue for ICTA, and we will be keeping you
posted on any changes or proposed changes where we may need you to
weigh in with your Members of Congress.

So in layman's terms - if you sell $600 or more to a single dealer in
2012 they are required to file a 1099 form with the IRS. That form
includes your ss#. The IRS computers will check income reported by
your 1040 schedule D & E and if you fail to report that 1099 income I
guarantee you will find greetings mail and a possible request to visit
with the IRS if not in person by mail. Your ultimate prize for
failure to report is time share from club fed. google Wesley Snipes to
learn more about that. For the guy with a top notch accountant in
Houston run this by them for confirmation that this isn't issue. Also
check with the US Chamber of Commerce and National Federation of
Independent Business websites. I repeat you need to find a new
accountant otherwise.

For those of you who question my motives, I am indeed a Federal and
state government relations expert. I used to be a lobbyist but that
term doesn't carry much water. I am also a life long coin collector,
vest pocket dealer with an eBay store search napyle, Nick's Morgan
Stop. I am a life member of ANA, Virginia Numismatics Association,
the National Silver Dollar Round Table, Original Hobo Nickel Society,
supporter of ICTA and an affliate member of the Professional
Numistmatist Guild. I also am the volunteer political Director for
Gold & Silver PAC see GoldandSilverPAC.org for more about that and the
nine key issues for the coin, currency and precious metals community.

My best wishes to all for a Hapy Thanksgiving. I urge you take a
minute and link to your Senators offices to send a message about 1099
repeal - the Johann's or Baucus proposal - both work to solve the
issue.

  #6  
Old November 25th 10, 02:51 AM posted to rec.collecting.coins
Nick Pyle
external usenet poster
 
Posts: 15
Default URGENT CALL TO ACTION 1099 REPEAL


Thanks MazorJ

I look forward to being and active poster in this group. Cheers and
Happy Turkey Day to all. Nick
  #7  
Old November 27th 10, 02:51 PM posted to rec.collecting.coins
Tell it like it is.
external usenet poster
 
Posts: 3
Default URGENT CALL TO ACTION 1099 REPEAL

On Nov 24, 8:51*pm, Nick Pyle wrote:
Thanks MazorJ

I look forward to being and active poster in this group. *Cheers and
Happy Turkey Day to all. *Nick


The motives of the people whp propose legislation is more important
than the legislation itself in my opinion. A lot of legislation could
be given short shrift if the motives for putting forward the
legislation were required by law to be spelled out. Also lobbyists,
and that means competing lobbyists, by definition, put their own
interests above the welfare of the country.
  #8  
Old November 27th 10, 04:23 PM posted to rec.collecting.coins
Bremick
external usenet poster
 
Posts: 641
Default URGENT CALL TO ACTION 1099 REPEAL


"Tell it like it is." wrote in message
...
On Nov 24, 8:51 pm, Nick Pyle wrote:
Thanks MazorJ

I look forward to being and active poster in this group. Cheers and
Happy Turkey Day to all. Nick


The motives of the people whp propose legislation is more important
than the legislation itself in my opinion. A lot of legislation could
be given short shrift if the motives for putting forward the
legislation were required by law to be spelled out. Also lobbyists,
and that means competing lobbyists, by definition, put their own
interests above the welfare of the country.
_____________

It also might be interesting to see the impact if the name and party
affiliation of any pol who proposes legislation were hidden. Imagine the
angst among the political sheep who wouldn't know if they would be
supporting the legislation of their own party or not.


  #9  
Old November 28th 10, 03:10 AM posted to rec.collecting.coins
Miss Quinn
external usenet poster
 
Posts: 1
Default URGENT CALL TO ACTION 1099 REPEAL

All gold coin transactions, buy or sell, over $600 will be reported to the
goverment. This is totally unconstituional. Check this chilling video.

http://www.youtube.com/watch?v=YDJmmjLAHQ8


  #10  
Old November 28th 10, 03:15 AM posted to rec.collecting.coins
No User[_6_]
external usenet poster
 
Posts: 2
Default URGENT CALL TO ACTION 1099 REPEAL


"Nick Pyle" wrote in message
...
CALL TO ACTION 1099 REPEAL


This is a grab for our gold coins!!!!

The Obamacare Gold Grab

What does healthcare have to do with gold sales? In the minds of the fascist
crafters of the Obamacare law: apparently a lot.

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.

This is an onerous bookkeeping nightmare for all small businesses. But
precious metals dealers will really take a hit.

“Coin dealers not only buy for their inventory from other dealers, but also
with great frequency from the public,” Diane Piret, industry affairs
director for the Council for Tangible Assets, told ABC News. “Most other
types of businesses will have a limited number of suppliers from which they
buy their goods and products for resale.”

One coin dealer told ABC News he deals with about 1,000 customers each week
and predicts he’ll be filling out between 10,000 and 20,000 tax forms per
year because of the new law.

“I’ll have to hire two full-time people just to track all this stuff, which
cuts into my profitability,” he said.

That may help the unemployment situation a little, or maybe not. Many
dealers will have to cut loose some on their staff who actively contribute
to their bottom line in order to hire someone just to create paperwork to
satisfy the IRS.

The ABC News report said the new tax provision was intended to mine what the
IRS deems a vast reservoir of uncollected income tax and was included in the
Obamacare bill as a way to pay for it. The new law is expected to raise $17
billion over the next 10 years.

What this provision truly is is another attack on small business and a way
to better track who is buying and selling gold.

Just think, if you decide to sell some gold or silver to a dealer because
you need some cash, the IRS is going to know about it.

The establishment hates gold in the hands of the public. In 1933 President
Franklin Delano Roosevelt confiscated gold from the American people. These
new reporting requirements will make very it easy for an oppressive,
overbearing, out-of-control fascist government to do it again.

House Speaker Nancy Pelosi (D-Calif.) said we’d have to wait until the
Obamacare bill was passed to learn what was in it. The bill was a stinker on
the surface, but the deeper we dig the more odiferous it becomes.






 




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