Comments on: IRS and Government Reporting Requirements for Coin and Bullion Dealers http://news.coinupdate.com/irs-and-government-reporting-requirements-for-coin-and-bullion-dealers-0353/ Coin Collecting News Wed, 08 Feb 2012 20:49:13 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Steve http://news.coinupdate.com/irs-and-government-reporting-requirements-for-coin-and-bullion-dealers-0353/comment-page-1/#comment-1775 Steve Mon, 12 Jul 2010 13:45:53 +0000 http://news.coinupdate.com/?p=3370#comment-1775 I believe that the us coins/bullion are not on the list because they are tracked from the production here then buy sales.First they know how much is purchase of us coins/bullion. In addition dealers have been required to write down serial numbers and descriptions. The info is then submitted to the local DA's office- where gov't and similar agencies can have access of the files/ paperwork you submitted. I believe that the us coins/bullion are not on the list because
they are tracked from the production here then buy sales.First they know how much is purchase of us coins/bullion. In addition dealers have been required to write down serial numbers and descriptions. The info is then submitted to the local DA’s office- where gov’t and similar agencies can have access of the files/ paperwork you submitted.

]]> By: Jessica http://news.coinupdate.com/irs-and-government-reporting-requirements-for-coin-and-bullion-dealers-0353/comment-page-1/#comment-1770 Jessica Sat, 10 Jul 2010 15:13:36 +0000 http://news.coinupdate.com/?p=3370#comment-1770 It's not the product they are concerned with it's the amount of money being exchanged so they can tax it. The new law will make it extremely difficult in coin shops as well as pawn shops. As a small shop owner it's hard enough just getting by. I don't need more paperwork. It’s not the product they are concerned with it’s the amount of money being exchanged so they can tax it.

The new law will make it extremely difficult in coin shops as well as pawn shops.

As a small shop owner it’s hard enough just getting by. I don’t need more paperwork.

]]> By: Richard Stinchcomb http://news.coinupdate.com/irs-and-government-reporting-requirements-for-coin-and-bullion-dealers-0353/comment-page-1/#comment-1763 Richard Stinchcomb Thu, 08 Jul 2010 21:16:19 +0000 http://news.coinupdate.com/?p=3370#comment-1763 It is really confusing to me that the U.S. bullion coins did not make the list. Why is that? -Richard Stinchcomb It is really confusing to me that the U.S. bullion coins did not make the list. Why is that?

-Richard Stinchcomb

]]> By: Louis Golino http://news.coinupdate.com/irs-and-government-reporting-requirements-for-coin-and-bullion-dealers-0353/comment-page-1/#comment-1761 Louis Golino Thu, 08 Jul 2010 16:44:50 +0000 http://news.coinupdate.com/?p=3370#comment-1761 Mr. Heller has provided useful information. However, why did he not address the proposed regulations for transactions totalling $600 or more that is in the health care law? Those regs are scheduled to go into effect in 2012, and there is a bill in Congress to repeal it. It would have been helpful for him to address this issue. Most people who have some selling experience are familiar with the current regs, as outlined by Mr. Heller. Mr. Heller has provided useful information. However, why did he not address the proposed regulations for transactions totalling $600 or more that is in the health care law? Those regs are scheduled to go into effect in 2012, and there is a bill in Congress to repeal it. It would have been helpful for him to address this issue. Most people who have some selling experience are familiar with the current regs, as outlined by Mr. Heller.

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