Analyzing the IRS cost basis reporting regulations: Critical updates for brokers & custodians on the new proposed regs
Available On Demand
Date Held: January 20, 2010
Duration: One hour
Your blueprint to cost basis reporting compliance – proposed regs clarified.
On December 16th, 2009, the IRS published proposed regulations for the Cost Basis Reporting Law. Enacted as part of the 2008 Emergency Economic Stabilization Act, this law requires the reporting of adjusted cost basis information for covered securities by brokers and others to the IRS and to taxpayers.
The proposed regulations set forth critical details that brokers and others must take into account in implementing systems to meet this law’s requirements. With an initial effective date for covered securities less than one year away, brokers will likely find themselves in a time crunch to evaluate these new IRS rules. Yet, it is essential that they fully understand the proposed regulations and consider the needed actions immediately to be in compliance by January 1, 2011.
Whether you have a compliance plan in place, are currently assessing vendors or are building a cost basis compliance solution, this is a must attend event for anyone in the financial services sector impacted by this law.
On Wednesday, Jan. 20th at 2 PM ET, keynote speaker Stevie D. Conlon, Tax Director, GainsKeeper will present:
- An analysis of key aspects of the new IRS proposed regs and how they affect financial institutions;
- Common concerns and questions related to having the proper systems in place; and,
- A live Q & A session to answer specific detailed questions on the regulations raised by attendees.
Learn more about the law at www.costbasisreporting.com.
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