Simply because we cannot get enough of taxes and the Internal Revenue Service (IRS), I’d like to take a moment and focus on how cost basis reporting (CBR) might actually work to your benefit. Let’s start with recent history. The Great Recession compelled the federal government to get a better view into securities transactions with… Read More >>
New Headaches for Tax Season
(Editor’s Note: We are knee deep in the stressful tax season. This year will be particularly challenging as broker/dealers for the first time have to report to the Internal Revenue Service (IRS) the adjusted cost basis—the actual, realized gains and losses—for securities transacted in 2011. The changes are a result of the Emergency Economic Stabilization… Read More >>
