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To: PapaBear3625

No, no actually. You pulled one sentence out of context. IN fact, those who sell in bulk have to keep track of the bulk buyers for IRS reasons (and in some states for sales tax reasons).

So you are wrong.


61 posted on 12/09/2011 9:16:08 AM PST by Notwithstanding (1998 ACU ratings: Newt=100%, Paul=88%, Santorum=84% [the last year all were in Congress])
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To: Notwithstanding
IN fact, those who sell in bulk have to keep track of the bulk buyers for IRS reasons (and in some states for sales tax reasons).

There are circumstances where bulk purchases by a business has IRS ramifications in how they maintain inventory, and "bulk sale" of the assets of a business to another business also has aspects requiring a Form 8594, in the context of a private individual buying large amounts of stuff for personal use, I have not seen any requirement to maintain records of larger-than-usual purchases of food and such.

If you can point to an actual IRS regulation, I'd be interested in seeing it.

Also, when proclaiming somebody wrong, it is generally polite to accompany the proclamation with at least a link to the contrary evidence. It leads to fewer pointless arguments. So please back up your position with at least one reference supporting it.

72 posted on 12/09/2011 9:57:43 AM PST by PapaBear3625 (During times of universal deceit, telling the truth becomes a revolutionary act.)
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