Illiquidity dangers - Italy lowers cash transaction limits.
- Thread starter wilburbear
- Start date
Depends how this is going to work / not necessarily the same thing but we have a new limit.
$600 for us.
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In the health care bill.
Starting in 2012, All business payments or purchases that exceed $600 in a calendar year will need to be accompanied by a 1099 filing. That means obtaining the taxpayer ID number of the individual or corporation you're making the payment to -- even if it's a giant retailer like Staples or Best Buy -- at the time of the transaction, or else facing IRS penalties.
$600 for us.
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In the health care bill.
Starting in 2012, All business payments or purchases that exceed $600 in a calendar year will need to be accompanied by a 1099 filing. That means obtaining the taxpayer ID number of the individual or corporation you're making the payment to -- even if it's a giant retailer like Staples or Best Buy -- at the time of the transaction, or else facing IRS penalties.
Countries are beginning to protect themselves. Individuals should too. In whatever way you can.
Explain what this measure has to do with" illiquidity" ????
Zerohedge ignorant ? NEVER EVER !!!!!
I don't know if this is on or off but the annoying part is it is on the table, maybe to test the reaction.
Congress talks in billions and now trillions and we have to deal with reporting 10k cash transactions and maybe $600 transaction, pennies in the scheme of things yet somehow this is very important.