Fundsters interested in mutual fund tax issues may want to look at
Dow Jones. Today Arden Dale
reports on the new 1099-B guidance from the IRS on disclosing information to shareholders regarding cost basis reporting.
The new rule, created by the IRS thanks to a 2008 law and ready for implementation for mutual fund shares bought on or after January 1, 2012, expands Form 1099-B "to include the cost or other basis of stock and mutual-fund shares sold or exchanged during the year," Dale writes.
Dow Jones cites IRS Commissioner
Doug Shulman, and includes insight from
SIFMA government affairs managing director
Ellen McCarthy and
Wolters Kluwer Financial Services senior director and tax counsel
Stevie Conlon. 
Edited by:
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE