You might have heard about the recent Health Care law’s intrusive new use for IRS form 1099. Section 9006 of the Patient Protection and Affordable Care Act is the section at issue. Starting January 1, 2012, this form will be used to report all purchases of goods and services by small businesses that exceed $600 during a calendar year.
Precious metals such as coins and bullion fall into this category, but so do many other basic purchases. We urge you to contact your congressman and make clear your objections to such intrusive, expensive, and economically destructive monitoring of Americans’ behavior.
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