Back during the debate over the Obamacare bill I vehemently insisted that it wouldn’t be “real” health care reform unless it addressed the shameful practice of not requiring people who buy and sell gold coins to file IRS form 1099 for most of their transactions. Thankfully, it looks like Congress didn’t let me down:
With spot market prices for gold at nearly $1,200 an ounce, Heller estimates that he’ll be filling out between 10,000 and 20,000 tax forms per year after the new law takes effect.
“I’ll have to hire two full-time people just to track all this stuff, which cuts into my profitability,” he said.
Plus there’s two new jobs we can add to the “created or saved” list!