Tell me what you know about this new up coming gun law

Discussion in 'The Okie Corral' started by Dalton Wayne, Oct 6, 2010.

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  1. Dalton Wayne

    Dalton Wayne Epic mustache Millennium Member

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    http://libertyconspiracy.com/healthcare ... k_provison

    Effective January 1, 2012, the national healthcare legislation passed by Congress contains tax provisions that will require gun dealers to report to the IRS purchases and sales of guns and any other goods valued over $600. IRS 1099 forms will have to be filed, reporting the sale/purchase. This reporting will be required for purchases from either individuals or corporations. The new IRS provisions apply to all goods and services.

    This has the effect of creating a system of gun registration, controlled by the IRS. It also creates mountains of more paperwork for dealers who are already burdened with filling out 4473's, A&D Bound Books, receipts, and all the other paperwork associated with gun business. Even purchases made at gun shows or at people's homes by gun dealers will have to be reported.

    Modern sport/utility (AR-15 type) rifles sell for over $600 even at used wholesale prices. Your quality tactical or custom handguns easily sell for over $600, and finding shotguns worth over $600 is not hard at all. $600 in ammunition is not a lot at today's prices. Even if the dealer buys a pile of clunkers but pays out over $600 to any individual or corporation, the report to the IRS must be made. Ammunition, knives, parts, reloading equipment, accessories, or any other goods valued over $600 must be reported to the IRS. The bottom line is, sell your gun or other goods to a dealer for over $600 and it must be reported to the IRS.

    This will also apply to most items (including Gold) sold to dealers for $600 or more.

    http://www.creditwritedowns.com/2010/07 ... r-600.html

    This isn't just a bill that is introduced, this is already passed. This was part of the Health Care bill that has been signed into law.
     
  2. bluenoise

    bluenoise

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    It's not just guns. It's all transactions $600 or more.

    Google
     

  3. Harvick

    Harvick

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    Yup... Elections have consequences!
     
  4. aircarver

    aircarver Descent Terminated Silver Member

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    'National Healthcare' is getting repealed after Nov. 2 .......:steamed:

    .
     
  5. Harvick

    Harvick

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    I wish!!..... It's pretty unlikely though.
     
  6. bogeyman

    bogeyman

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    I don't think that it is a defacto gun registration. A form 1099 is used by the government to track income so that it cannot escape taxation. I don't think that a gun shop will be sending in a 1099 when we (the public) purchase a gun. In theory, we (the public) would have to send in a 1099 to report the income received by the gun shop from us. I would think that the compliance rate on that would be very low.
     
  7. wavetrain75

    wavetrain75 Useless Member

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    Civil disobedience. The law was unconstitutional from the beginning, it is our duty to defy it.
     
  8. LoadToadBoss

    LoadToadBoss IYAAYWOT

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    A Form 1099-Misc is required to be submitted by all business that purchase $600 or more of goods and services from other business.

    The old law only required the form be sent to non-incorporated businesses. The health care law changed it to apply to corporate payments for services. Therefore, if a gun store buys $10,000 of guns from S&W, the store would send a 1099 to S&W and the IRS showing the payment of $10,000. An individual will not send or receive a 1099 for a private purchase from the gun store.
     
  9. coastal4974

    coastal4974

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    Election day is 27 days away, try not to vote in any more facists.
     
  10. jp3975

    jp3975

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    "That's a nice looking hk you've got there. 1k? Tell you what...I'll give you $500 for the slide. I might decide later that i want the rest. I'll come back in a few hours and let you know."
     
  11. coastal4974

    coastal4974

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    It’s per vendor, per year so that won’t work unless you come back next year.
     
  12. GamerGirl

    GamerGirl 100% Relevant

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    This legislation will be devastating for businesses. IIRC it requires you get a taxpayer ID number from everyone that buys more than $600 of goods from you.

    I have a friend dumping her vet business because after this bill passed she said she will spend more time doing Gov paperwork than seeing patients. :(
     
  13. Reagan40

    Reagan40

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    I agree. At my business we will have to hire another person just to do this. With the cost of employing another person, plus the additional taxes, we are wondering what we are going to do.
     
  14. Alchemy

    Alchemy Senior Member

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    I think that we are only just beginning to see what is attached to this
    bill. God help us...
     
  15. coastal4974

    coastal4974

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    It will be easier for those who can to buy direct from China.
     
  16. jtull7

    jtull7 Pistolero CLM

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    Don't worry about it. It's bull****. It's unconstitutional. A federal judge will throw it out in an instant.
     
  17. KB2MBC

    KB2MBC NRA Life Member

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    So, if I sell a gun for $1000, how can they tax me on it? They don't know how much I paid for it originally, how can they determine the taxable profit? If I sell it at a loss, can I write it off? Maybe it will be a sales tax of sorts.
    It's just getting to suck more and more.
     
  18. W4CNG

    W4CNG

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    More Obama Medicare issues. All of my transactions are at the $590 level and multiple when needed. Also my Lotto winnings with Cash 3 are under $600 each and do not get reported even though I dump them into my checking account just under $10,000 which the bank reports to the fed.
     
  19. LinuxKnight

    LinuxKnight Edge Of Reality

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    This has what, exactly, to do with HEALTH care?
    NOTHING.

    I just love how those congress critters just vote for stuff without reading it, and how they love to tack on completely unrelated things for their pork barrel pet projects.

    Is it November yet? ....
     
  20. Ragnar

    Ragnar

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    What are you smoking? If you didn't bring enough to share, you have to put it out.
     
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