Trust And Estates Online: Cost Basis Regulations: Blessing or Burden?
December 2010
Print
EmailThis Trust & Estates Wealth Watch article discusses the new cost basis regulations finalized on October 12, 2010. These regulations implement key provisions of the Emergency Economic Stabilization Act of 2008 that apply to institutions issuing IRS form 1099-B.
In this article, Craig Richards focuses on the burden these regulations place on brokers, agents, and transfer agents, who upon transferring securities out of clients' accounts, must now provide cost basis information within 15 days of the transfer. For many trust companies and accountants, this is a blessing in disguise.
Co-written by Craig Richards and Carolyn Chandler, this article was published on 22 December 2010. Click here> to access the full article online.
AUTHOR
Craig Richards, CPA/PFS, CFP
Managing Director and
Director of Tax Services
Craig Richards, CPA/PFS, CFP, is Managing Director and Director of Tax Services. He is a licensed CPA and CFP and is a member of the Officers' Executive Committee. Mr. Richards is a member of the New Jersey State Society of Certified Public Accountants and the American Institute of Certified Public Accountants.
To set up an appointment or to learn more about Fiduciary Trust, please contact Luke Fowler in our New York headquarters at (866) 624-3834 or l.fowler@ftci.com. You may also complete the information below and we will respond to you as soon as possible.
Fiduciary Trust's new capabilities brochure provides you with a comprehesive overview of our breadth and depth of wealth management services, our investment management philosophy and approach, and our firm's history and heritage.
Please complete the form below, and we will be happy to mail you a copy.
