Netbasis Provides Accurate Solution for Taxpayer Issues with the New 1099-B and 8949 Forms
Phoenix, Ariz., March 8, 2012 - In response to the numerous cost basis issues that taxpayers are experiencing with the new 1099-B and 8949 forms, NetWorth Services, a leading provider of online cost basis applications is offering a special 20% OFF tax-time special on transactional purchases of the Netbasis application.. Netbasis can quickly and accurately address all cost basis issues and frustrations that taxpayers are experiencing as a result of the new forms that are required for the 2011 tax season.
Go to: www.netbasis.com , click “Buy Now” and enter promo code: costbasis at checkout to receive 20% off. Promotional code is good until April 17, 2012.
Although a learning curve was expected when the IRS premiered these new forms to support the new cost basis law, taxpayers are having a more difficult time than originally anticipated. Taxpayers are having issues with the new 1099-B reporting incomplete or incorrect cost basis information. To complicate matters, brokerage firms were granted a 1099-B reporting deadline extension until March 15, which according to a March 2, 2012 Reuters.com article entitled “Brokers Delay 1099’s Causing U.S. Investor Angst,” has left thousands of taxpayers very frustrated and angry because they don’t have the cost basis information they need to complete the 8949.
“The 2011 tax season is the initiation of the cost basis changes and the release of the new forms 1099-B and 8949. As with most new releases, there is a period of time where adjustments have to be made, but taxpayers seem to be having a bit of a struggle with these changes. NetWorth Services want to help taxpayers accurately report their cost basis regardless of the information that was or was not reported on their 1099-B,” said Nico R. Willis, CEO of NetWorth Services. “Our Netbasis application can provide taxpayers with the ability to calculate and report accurate cost basis information with or without their 1099-B.”
Netbasis , the flagship product of NetWorth Services, quickly and accurately determines the adjusted cost basis of virtually any security traded in the U.S. as far back as 1925. The vast Netbasis database of historical pricing and corporate actions allows for accurate cost basis calculations in seconds ― even when securities have long and complicated histories of mergers, spin-offs and stock splits. Netbasis enables users to capture and track lot shares acquired under myriad circumstances, including reinvestment, employee stock option and other stock plans, voluntary cash purchases, transfer of ownership, cash or stock dividends, and corporate events.
NetWorth Services, a financial web application and database software company, is headquartered in Phoenix, Arizona, and has offices in Philadelphia and New York. Its flagship product, Netbasis, is an award-winning application that quickly and accurately determines the adjusted cost basis for securities. Financial solutions developed by NetWorth have been adopted by many leading financial institutions, transfer agencies, tax preparation software companies, accounting firms, money managers, government agencies, Fortune 500 companies, universities, endowments and individual investors. For more information: www.netbasis.com and www.networthservices.com .