Aquaman
Elite Member
For those of you that have delt with them recently, is a TaxID/EIN# really required? I'm not interrested in giving Uncle Sam the opportunity to bend me over another barrel. He gets more than his fair share from my regular job!
ARA question?
- Thread starter Aquaman
- Start date
The Patriot Act requires your SSN# if you are not a business. Any time you sell gold to anyone you have to fill out paperwork, not just ARA. They want to make sure you are not buying and selling gold as a business and avoiding taxation on your profits. If you detect you can sell your rings without taxation since it is a hobby and you did not buy the gold from someone else.
Aquaman
Elite Member
No where on ARA's "required" forms do they request a SS#. They do request a driver's license # though
roob47
Forum Supporter
Interesting anybody know who has recently sent in some metal?
CanSlaw
Elite Member
I recently sent in some silver and did have to comply with the new rules. I used my business license so I did not have a problems. Talking with ARA they are having to comply with the Patriot Act, and that means the govt can bend you over with the information that ARA does have to have on file to scrap precious metals. ARA does not like it any more than we do, but the govt has knocked on their door and they had to make changes.
The nice part, there are no 1099's filed.
The nice part, there are no 1099's filed.
scout23
Elite Member
Ok, so do we need a tax id or not? And if not do we put our ssn in that blank?
dewcon
Quality Control Expert
Aqua..... this is what a rep posted on here: http://metaldetectingforum.com/showpost.php?p=1584294&postcount=124
Any or the refineries now require it. There is one here in Fl i looked at just because it was closer that Dallas, but you have to have a business license. I agree its getting ridiculous what the government does with our money and how much more they keep wanting.
Dew
Any or the refineries now require it. There is one here in Fl i looked at just because it was closer that Dallas, but you have to have a business license. I agree its getting ridiculous what the government does with our money and how much more they keep wanting.
Dew
CanSlaw
Elite Member
They told me yes, I used my business tax ID.
scout23
Elite Member
That sucks! I checked several local jewelry stores and they must think people are stupid.
CanSlaw
Elite Member
It's those people that are "flipping the gold" and not claiming the profits that the govt wants to put a stop to or at least get a percentage of the profits. Sad part about it, the small business people (ARA) has to be involved and the smaller guys like us have to suffer.
I find it comical that the American Revolution, where America separated from Britain, was mainly because of "Taxation without Representation" and the fact that Britain was taxing anything and everything they could (sugar, stamps, tea, etc.). Then the new American government turns around and does the same thing but 100x worse.
scout23
Elite Member
Not to make this a political thread or hyjack it, but seems goverment keeps getting bigger and they need more money to feed it. Look at how many polititions there are from the President down to the State Reps. That is a lot of people, we pay their wages and retirements of six figures. UGH!
I just got money two weeks ago and they don't have any new information on me. They do have my SSAN. I am sending out another shipment today also.
ARA and Midwest require your SSN and a copy of your state drivers license. I have used ARA and Midwest. My check from ARA is in the mail. Maybe I will take a photo of it when I get it so you will believe me. ??? They do NOT require a business license. In place of a business license your SSN number is what they want. At one time they said you had to have a business license. Then they changed that because they did not understand the law. They released a statement about this. I believe Craig posted it. It is a non issue.
YES. SSN is what they want! So does Midwest and gold buyers and pawn shops.
To add,,,guys, they file your paperwork. They do not report this information to anyone. It is kept in case the government needs a trail during investigations. All this talk about the government taking more is just unfounded. The government does not care about you melting some gold you found and you are not going to be taxed. Do you know ANYONE who has been taxed for sending gold to ARA? Come on guys, think.
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+1...x2....agreed!!!
dewcon
Quality Control Expert
Its not ARA responsibility, its yours to ensure you file your taxes properly. They are just meeting their requirements the government has set for them to stay in business. That post from the ARA guys i mention says it all.
Dew
Dew
scout23
Elite Member
Ok so who is better in price. ARA or Midwest, or are they about the same. What % of melt do they pay? Thanks.
Aquaman
Elite Member
Ok...feeling much better about this now. Big mahalo to all of you for providing your personal experiences and info. I plan to send a small pack out to ARA today. I'll follow up when I see a check.
