patriot act part two ! On Sep 30, 5:22 am, "d.b.baker" <[EMAIL PROTECTED]> wrote: > Back to Cash: > > QUESTION: Why does the recently passed housing bill have a hidden > provision requiring that ALL credit card transactions in the US, be > reported to the IRS? > > From the Senate Bill Summary: > > Payment Card and Third Party Network Information Reporting. The > proposal requires information reporting on payment card and third > party network transactions. Payment settlement entities, including > merchant acquiring banks and third party settlement organizations, or > third party payment facilitators acting on their behalf, will be > required to report the annual gross amount of reportable transactions > to the IRS and to the participating payee. > > Reportable transactions include any payment card transaction and any > third party network transaction. Participating payees include persons > who accept a payment card as payment and third party networks who > accept payment from a third party settlement organization in > settlement of transactions. > -http://www.freedomworks.org/newsroom/press_template.php?press_id=2571 > > Cash is king... that is, until they embed GPS transmitters. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum
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