Obama

President Barack Obama addresses the nation from the Oval Office at the White House in Washington, Sunday night, Dec. 6, 2016. The address comes as recent attacks in Paris and California have raised concerns that the U.S. and other countries aren't doing enough to prevent terror attacks. (Saul Loeb/Pool Photo via AP)

President Barack Obama is set to

to discuss options related to gun control. It's a meeting that's been in the works for a while, with the president signaling on several occasions he plans to take executive action to crack down on gun violence.

What will that action include and how it affect firearm owners, sellers and buyers? Here are the basics:

What we can expect?

The exact details of any executive action aren't known but the president has repeatedly mentioned he'd like to cut the number of gun transactions that are able to be made without a background check. Currently, only sales made by federally licensed gun dealers require a background check. This means some transactions made at gun shows, online or by private parties don't require a background check. Obama has signaled he'd like to change the definition of a licensed gun dealer to require more people to undergo a background check before purchasing a firearm, including possibly setting a number of transactions that could be made by year without being classified as a licensed dealer.

So you're talking about the "gun-show loophole" right?

Yes. It's expected any executive order would look to tighten the loophole. Currently, federal law allows people to sell guns from their own "personal collections" without background checks and it's the definition of "personal collections" that has been expanded -and debated - since the original firearms regulation laws were passed in 1968. Eliminating those sales entirely may be impossible, but an executive action would likely make it more difficult.

Anything else?

In the past, the president said he'd like to see restrictions on the sale of assault rifles and some ammunition and prohibiting anyone on the terrorist watch list from purchasing a firearm. It's also expected the president will strengthen requirements for reporting a gun that's been stolen or lost.

Why now?

The push towards additional limitations on firearm purchases isn't new. In the wake of the Sandy Hook shootings three years ago, the president issued a series of executive orders with some new gun control regulations and pushed for more. Congress rebuffed those efforts but Obama has brought up the topic numerous times since then. Following the October shootings at an Oregon community college, Obama said he asked his advisors to look for firearms control measures he could take on his own through executive action.

Supporters of the measure

Gun control advocates said closing the loophole would help keep firearms out of the hands of those who aren't allowed to have them. Federal law prevents felons, those in the country illegally, some drug users, those with some mental illnesses and people convicted of domestic violence from owning a firearm. In Alabama in 2014, there were 621,305 background checks of those wanting to make firearm purchases.

Opponents of the idea

Second amendment advocates are loath to see any measures that could restrict gun ownership. The National Rifle Association and the Republican-led Congress will fight the measure, with GOP presidential candidates already using it as rallying point headed into the 2016 election. The NRA is expected to lead the fight.

"President Obama failed to pass his anti-gun agenda though congress because the majority of Americans oppose more gun-control. Now he is doing what he always does when he doesn't get his way, which is defy the will of the people and issue an executive order," NRA spokesperson Jennifer Baker said.

"The plain truth is that President Obama's gun-control agenda will only make it harder for law-aiding citizens to exercise their constitutional right to self-protection. It will not stop criminals."

What about Congress?

Congress has rebuffed previous attempts by the Obama administration to enact increased gun control measures, including a 2013 push for universal background checks. Even the mention of increase firearm regulations and any possible forthcoming action has many taking aim at the idea of an executive order. One thing to remember: Congress can't undo an executive order, however, a new president could.

Timing?

The president is returning from his Hawaii vacation today. He's expected to meet with Lynch in the coming week. Obama's final State of the Union speech is set for Jan. 12 and the Iowa caucuses take place Feb.1, giving the administration a short timeframe for any action.