2010年8月18日 星期三

New Form 1099 Rules 'Horrendous' For U.S. Gold Dealers

見到 kitco.com 有呢段文, 說美國在2012年實施須向稅局申報600美元或以上的買賣交易而帶來的會計成本, 使好多金幣商人打算提早結業 !

有 D 唔明點解在現代電腦時代還須浪費好多紙張 ?

文章說, 美國須放寬個600美元限制唔係會帶來好多麻煩 !


www.kitco.com 全文

(Kitco News) -- A movement is afoot in the U.S. Congress to revise or repeal a portion of the health-care act, passed earlier in the year, that critics say has costly implications for bullion and coin dealers and also raises privacy concerns.

The provision has nothing to do with health care, but instead with government efforts to pay for new programs. Specifically, entities must file a Form 1099 with the Internal Revenue Service whenever they make transactions paying out $600 a year to another party. Dealers who now submit a limited number of 1099 forms say they may have to file thousands each year under the new act, significantly driving up their accounting costs.

"The impact on my industry will be horrendous,” said Bill Haynes, president of CMI Gold & Silver Inc. in Phoenix. The new rules in Section 9006 of the Patient Protection and Affordable Care Act are aimed at all businesses, not just the gold dealers.

However, gold may be among the sectors most heavily impacted since the $600 threshold is less than half of the current price for an ounce of the metal, meaning a substantial percentage of transactions will require increased paperwork. The rules do not create a new tax, but establish a paperwork trail to force those who should be paying taxes to do so, if they aren't already. The new regulations go into effect at the start of 2012.

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