Accounting Today Blog

Accounting Today Blog

NetWorth Offers Cost Basis Tax Calculation Discount

Date: 3/31/2008

Author: WEBCPA STAFF

“Willis said the Internal Revenue Service used Netbasis for a 2005 tax gap study to quantify the amount of uncollected capital gains tax revenue. The IRS estimates that underreported income from inaccurate cost basis calculations could amount to an additional $10 billion in revenue.”

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