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Monday, October 29, 2007

CRS Releases Report on Securities Basis Reporting

The Congressional Research Service has released Tax Gap: Proposals in the 110th Congress to Require Brokers to Report Basis on Publicly Traded Securities (RL34216):

Recent and projected large deficits and the need for revenue to offset spending or tax reduction proposals have generated congressional and executive branch interest in different proposals to reduce the tax gap. Proposals in the 110th Congress to require brokers to report adjusted basis on publicly traded securities sold by individuals are examined in this report.

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Just a quick point - the CRS doesn't release it's reports. They make them available for Congress only. Members of Congress may then make them available to the public.

Posted by: Tony Adams | Oct 31, 2007 6:36:51 AM