Category Archives: News Articles
← Older postsHow to find your cost basis for capital-gains taxes
By EVA ROSENBERG MarketWatch Los Angeles – March 25, 2011 – Taxpayers report billions of dollars’ worth of capital gains each year, and assessing the tax owed on those gains can be a headache. In 2008, more than 11 million … Continue reading
New rules make it easier to obtain critical investment information for taxes
By PAMELA YIP Personal Finance Writer The Dallas Morning News – March 20, 2011 – When you sell an investment, you have to tell the Internal Revenue Service whether you have a capital gain or loss. And to determine that, … Continue reading
Investors, do you know your cost basis?
Reuters – March 8, 2011 – There’s one thing you really need to know about the new rules on cost basis: If you haven’t had a conversation with your broker about how you want your basis to be calculated, it’s … Continue reading
Cost Basis Reporting: More Than Just a Number
At first glance, reporting the cost of a security purchased by an investor to the Internal Revenue Service seems relatively straightforward. All a bank, brokerage firm, mutual fund, transfer agent or even issuer would have to do is look up … Continue reading
Rules change how you figure taxes on stocks
The IRS suspects investors are shortchanging it more than $11 billion a year. Now it has a plan to get some of that back. New rules kicked in this year that require brokerages, for the first time, to start tracking … Continue reading
The Costs of Cost Basis
By Chris Kentouris — www.mmexecutive.com — 02/07/2011 The ability to make choices is the pillar of a free market economy. But when it comes to the Internal Revenue Services’ new tax reporting requirements, choices will mean plenty of additional operational … Continue reading
Tips: Get your tax paperwork in order
So the federal income-tax filing deadline is getting closer, but you’re lacking key information. Where should you go to retrieve it, and what will it cost you? Below find some key pointers on obtaining what you need. Read the complete … Continue reading
Brokers, Advisors, Investors Face Harsh Reality of Cost-Basis Reporting
Since the beginning of the year, brokerage firms have been required to report investor gains and losses for new holdings directly to the IRS. That’s good news for individual investors—at least the ones that like to be up-front with Uncle … Continue reading
Cost Basis: What’s the Big Deal?
It’s a brand new year and The Emergency Economic Stabilization Act of October 2008 (the “Bailout Bill”) seems like a distant memory from a hazy and tumultuous past. However, the fallout from the bailout is still being felt, and the first date regarding changes to cost basis reporting (brokers and other … Continue reading
NetWorth Services Assists the IRS in Determining Tax Gap from Schedule D
Phoenix, Arizona – April 4, 2005 – The Internal Revenue Service has released preliminary results from the 2001 National Research Program’s (NRP) random audit of 46,000 tax payers, in which NetBasis (Nb2) was used as a verification tool for cost … Continue reading
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