Reporting of Adjusted Basis in Securities Transactions
Published on:
April 9, 2009
SIFMA provides comments to the Internal Revenue Service (IRS) regarding reporting of adjusted basis in securities transactions, Notice 2009-17. Comments also include the implementation of the new information reporting requirements enacted under the Energy Improvement and Extension Act of 2008 (P.L. 119-343). SIFMA believes that IRS guidance is critical for clarifying brokers’ responsibilities under the new law and creating consistent rules to carry out the law’s requirements.