BATFE - 41P - Rule date: June 2014...maybe?

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    TGT Addict
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    If that's the case does that mean all trusts created between now and then won't have to get CLEO signoff, printed and checked?
     

    grumper

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    Doubt it.

    They don't care when your trust/corp was formed. Once the rule change happens legal entity transfers will all be treated the same whether your company is 20 years old or a brand new trust.

    The big question is whether they'll kick all the stuff already in the pipeline back out or let them go through.

    And whether they feel politically/judicially invincible enough to retroactively apply the rule and invalidate all tax stamps issued to entities under the current rules.
     

    rgwalt

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    Jan 27, 2013
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    Doubt it.

    They don't care when your trust/corp was formed. Once the rule change happens legal entity transfers will all be treated the same whether your company is 20 years old or a brand new trust.

    The big question is whether they'll kick all the stuff already in the pipeline back out or let them go through.

    And whether they feel politically/judicially invincible enough to retroactively apply the rule and invalidate all tax stamps issued to entities under the current rules.

    I would be shocked if they invalidated all current stamps. That would be a logistical nightmare. I also doubt everything in the pipe will get kicked back.
    Historically new ATF rules grandfather existing applications.
     

    1slow01Z71

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    Jun 24, 2012
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    Kyle
    On the plus side it seems efiled forms are coming back in a hair over 3 months for now at least. So now is the time to get your shit in if you don't want any possibility of having to deal with this. I believe Im going to register a couple more lowers and 4 more cans then Im done. I don't feel like this is really going to go through due to the wide reaching effect it will have on all trust law not just NFA stuff. As I understand it, if this rule does go into effect then when someone files a lawsuit challenging it then an injunction will be issued suspending it until a ruling has been made so it would seem there is a grace period for us even after the June deadline. Lets hope they scrap the whole damn thing but just in case some of you are on the fence.
     

    Shady

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    You realy think that the government would not roll out a plan that is a logistical nightmare. You might want to look into that thing they just did known as Obama care. For or against it everyone has to admit it was a clustermess :)
     

    wakal

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    Talking to a NFA clerk last week about this; the term "fiasco" came up several times. They said that they expect this to be a complete nightmare, as the folks who have Decreed From On High That This Will Be So have never, ever talked to anyone who actually works or deals with NFA items (on the government side, even) and could not in any way care less about any Americans.

    This is one piece of the ongoing punishment for "gunnies" because they did not back The One. And that was what the NFA clerk said...just their opinion, of course, but it was very amusing hearing what sounds like this (and other) board's usual echo chamber of complaints coming from that side of the discussion.


    Alex
     

    FlashBang

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    I find it so typical of the government that they spend millions creating the eFile system in order to comply with the Federal Paperwork Reduction Act and to save money via increased efficiency.... and then the clowns on high want to blow it all away with this ridiculous proposal.
     

    Shorts

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    Talking to a NFA clerk last week about this; the term "fiasco" came up several times. They said that they expect this to be a complete nightmare, as the folks who have Decreed From On High That This Will Be So have never, ever talked to anyone who actually works or deals with NFA items (on the government side, even) and could not in any way care less about any Americans.

    Fiasco sounds about right. That's the intention of course. When you don't agree with an activity, do all you can to interfere with it. That has to be a chapter from Sal Alinksky's book right?

    This is one piece of the ongoing punishment for "gunnies" because they did not back The One. And that was what the NFA clerk said...just their opinion, of course, but it was very amusing hearing what sounds like this (and other) board's usual echo chamber of complaints coming from that side of the discussion.

    Alex

    Yeah. He does the same to Texas, gives anything Texas a harder time that should be done. It's the whole enemies list and punish them as much as you can when you can.
     

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