Www.satcomm911.com
[my ignorance shown in square brackets]
RF:
I'm doing two 1099 A's, a 1099 B and an OID for everything. [no mention of A4V]
Along with the new Issuance of Currency letter
and the 1040-v's to IRS [originals] and the vendor [copies].
One A is the real man borrowing from the Corp, and the other is the vendor borrowing, block 5 "no" on both.
The B is an "Exchange of signature for access to funds".
The OID is issued as per 26 CFR 1.1271-1.1275.
Simple signature only on the statement with "Issued with OID" written below the signature. [so he’s not writing
Accepted for value, exempt from levy, signature, birthdate, ss#, etc. WOW]
RF:
your WHFIT is hard assets, not fiat based currency.
You prepare the 1099's
and the 1040-V,
use the Reporting of Income letter and
do a 3-409 acceptance of your invoice/statement. *
You give the vendor the copies of the 1099's and the 1040-V or send it all in to the IRS DC office for ledgering.
The 1040-V is used as an immediate credit to the vendor, they can process it through the commercial side of the Bank just like it was cash. That's why we call them private debt instruments.
C:
Reporting of income letter: Notice Issue of Currency Patriot Act
1040v - IRS payment voucher
1099s - 1099A as Lender, 1099A as Borrower, 1099OID (as the AFV is being ISSUED WITH OID),
3-409: means the UCC 3-409 - Negotiable Instruments [*so, what, write UCC 3-409 after our signature?]
[below are the 3 address we need to send our declarations to BEFORE we start paying off debts
or purchasing anything. See WHFIT_NOTICES folder]
IRS DC - IRS Technical Support Division
c/o Treasury UCC Contract Trust
INTERNAL REVENUE SERVICE
1500 Pennsylvania Ave, NW
Washington, DC 20220
Enterprise Computing Center-Martinsburg [WHY?]
Attn: Chief, Information Returns Branch
Mail Stop 360
230 Murall Dr
Kearneysville, WV 25430
Secretary of Dep’t of the Treasury: Timothy R Geithner
1500 Pennsylvania Ave, NW
Washington, D.C. 20220
[according to the latest info, we only use 1 1099 A now. I’m confused]
12-19-9\!ONLYONE_A.doc
Re: [RedemptionByMethod] Re: 1099 copy A or copy B? December 19, 2009 From: "Ralph
The "A" uses "asset transfer by TIH to discharge debt"
The "B" uses "exchange of signature for access to funds"
The OID use "26 CFR 1.1271-1.1275"
I am using a single "A" with bank as lender
On Sat, Dec 19, 2009 at 1:24 PM, Angeline
Do you fill out your 1099's just like the examples are in the WHFIT folder?
And, I think you said you don't do 2 1009A, so how do you fill out your 1099A?
--- In RedemptionByMethod@ yahoogroups. com, Ralph
I give them all of the forms to "hold" until my clients want to do the actual discharge. They are happy to keep them in hand and available. I can e-file them anytime I want that way.
On Sat, Dec 19, 2009 at 12:44 PM, Angeline
Ralph, in your reply in message 52250, Link:
. group/Redemption ByMethod/ messages/ 52268?viscount= -30&l=1
You said that you give them the 1099's to drool over. I thought we were supposed to give them the (b) copy and file the top red form ourselves, or use FIRE. Can you clarify this for me. I'm confused.
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