23 Dec IRS Contract to Provide Information Technology Support
Tucson, Arizona – August 10, 2002 – NetWorth Services, Inc., today announced that it was awarded an IRS contract to provide its net basis/equity basis determination application, NetBasis 2000 (NB2), to the National Research Program (NRP). Using a batch system process, NB2 will retrieve the historical price and corporate activity data, and then determine the cost basis of major stocks.
NetBasis 2000 (NB2) a patent pending software system developed by NWS, successfully retrieves an accurate adjusted cost basis of any investment regardless of its history of capital changes. These changes include stock splits, spin-offs, mergers, special dividends, dividend reinvestment programs and return of capital.
NetWorth Services is very proud to be a part of the modernization efforts that are taking place at the IRS. NB2 will provide an advancement technological method by using verification to minimize taxpayer burden.