GainsKeeper Blog


01/22/2013New Cost Basis Reporting Challenge for Hedge Funds, Partnerships and Corporations: IRS Form 8949 & New Form 1065 Schedule D
01/02/2013New Cost Basis Reporting Challenge for Hedge Funds & Partnerships: IRS Form 8949 & New Form 1065 Schedule D
05/02/2012IRS grants one-year delay in cost basis reporting for debt and options
01/17/2012Report of Organizational Actions Affecting Basis of Securities Published
06/23/2011IRS Indicates It Will Issue Proposed Regulations to Address Potential Problems with Cost Basis Reporting Law Requirements
03/16/2011IRS released revised draft Form 1099-B for cost basis reporting on March 10, 2011.
02/23/2011IRS Releases Notice 2011-18 Providing Penalty Relief to Stock Issuers for Delayed Reporting of Corporate Actions to the IRS Until January 17, 2012
12/20/2010Tax Act Extends Low Maximum Long-Term Capital Gains and Qualified Dividend Income Tax Rates for Two More Years and Addresses Basis Step-Up on Inheritance
10/30/2010IRS Final Cost Basis Regulations – Short Sales
10/28/2010IRS Final Cost Basis Regulations – Issuer Corporate Action Reporting
10/27/2010IRS Final Cost Basis Regulations – Required Basis Adjustments
10/26/2010IRS Final Cost Basis Regulations – Clarification of Covered Securities Subject to Cost Basis Reporting
10/26/2010IRS Final Cost Basis Regulations – Significant Rules for Lot Selection and Averaging of Basis for Mutual Fund and Dividend Reinvestment Plan Shares
10/25/2010Eighth Circuit Affirms Denial of Litigation Costs After Settlement of Company's Penalty Dispute
10/25/2010Failing to Remedy Information Reporting System Flaws Could Result in Intentional Disregard Penalties
10/22/2010IRS Final Cost Basis Regulations – Significant Rules for Transfer Reporting
10/15/2010IRS Releases Final Cost Basis Regulations With No Change in Effective Dates But Provides Penalty Relief That Effectively Delays Most Transfer Reporting for One Year
10/08/2010New Law Significantly Increases Tax Penalties Affecting Cost Basis 1099’s and Transfer Statements
01/20/2010 Option Symbology Initiative (OSI) and GainsKeeper
12/16/2009 IRS Issues Proposed Cost Basis Reporting Regulations
12/03/2009 Technical Corrections Legislation Introduced in House Would Fix Glitches in Cost Basis Reporting for Dividend Reinvestment Plans
02/09/2009 IRS Asks for Comments to Assist its Drafting of Cost Basis Guidance
01/21/2009 IRS Issues Proposed Regulations on Allocation of Basis to Stock in Corporate Transactions
01/13/2009 IRS Favorably Clarifies New February Deadline for Broker Delivery of Form 1099 Information to Customers
10/30/2008 Cost Basis Reporting Law: Brokers Considering Whether to Wait for IRS Guidance
10/04/2008 President Signs Financial Market Bailout Legislation that Includes Cost Basis Reporting
10/02/2008 Senate Passes Financial Market Bailout Legislation that Includes Cost Basis Reporting
09/29/2008 House Passes New Tax Extenders Bill with Cost Basis Reporting Included — Sends It Back To The Senate
09/24/2008 Senate passes cost basis reporting as part of Energy and Tax Extenders bill
09/18/2008 Cost Basis Reporting Update -- Included in Active Senate Energy and Tax Extender Bill with New Effective Dates
08/01/2008 Cost Basis Reporting Legislation: Remains Active in New House & Senate Bills
05/20/2008 Cost Basis Reporting Legislation One Step Closer: Passed by U.S. House in May 2008
02/19/2008 Cost Basis Reporting Legislation Close to Becoming Law
02/04/2008 Lost Knight--Supreme Court rules in favor of IRS and concludes that trust’s investment fees are not fully deductible
12/26/2007 IRS Rules Against Currency Linked Exchange Traded Notes (ETNs) and Indicates it is Reviewing Tax Advantages of Other Types of ETNs
12/21/2007 IRS Issues Ruling That Wash Sale Loss Deferral Rule Applies if Substantially Identical Stock Is Purchased in Taxpayer's Individual Retirement Account
11/09/2007 Cost Basis Reporting Legislation Picks Up Steam as It Rolls Out of the House and Into the Senate
08/03/2007 "Phantom Income" and Trusts: A Recent Adverse IRS Proposed Regulations for Investment Management & Custody Fees
06/28/2007 "Phantom Income" and a Recent Adverse IRS Memo for Investment Account Wrap Fees
06/11/2007 Senate Committee Staff Releases Cost Basis Reporting Legislation Proposal Summary
05/24/2007 Stock Index Options - Determining When They Are Subject to the Mark-to-Market Rules
05/07/2007 Futures, Non-Equity and Stock Index Options – Be Aware of the Special "Mark-to-Market" Tax Rules
04/12/2007 Check Your Portfolio for Losses You Should Take
03/13/2007 IRS & Congress Focused on Proper Basis Reporting by Taxpayers - What That Means To You
01/24/2007 GainsKeeper and BasisPro Win Financial Planning Award
11/30/2006 Welcome to the new GainsKeeper web site!