The IRS recently issued notice of proposed regulations to explain how securities brokers must report stock transactions. The regulations are guidance for brokers subject to the Energy Improvement and Extension Act of 2008, codified as I.R.C. §6045(g)(1), which requires brokers to include a client’s adjusted basis as well as classification of gains and losses as… Read more
Honest to God’s truth, not a single one of my clients intended to create the tax liabilities they now face. Tax debt is not a cause; it is a consequence of something else. It could be a liability produced by insufficient withholding, lack of adequate planning, or even ignorance of the law. The liability is… Read more
