*Letters

SIA Submits Comments to the IRS on the Valuation of Securities

Published on:
July 13, 2000

The Committee on the Federal Taxation of the Securities Industry of the Securities Industry Association (SIA)* provides comments to the Internal Revenue Service (IRS) on IRS questions regarding the valuation of securities.SIA notes the IRS questions appear to be designed to aid in the development of an alternative methodology for pricing securities for which no ready market exists. SIA believes it is both unnecessary and unproductive for the IRS to attempt to develop a methodology capable of producing independent estimates of the fair market value of dealers’securities for purposes ofSection 475 of the Internal Revenue Codeaddressing mark-to-market.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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