IRS postpones reporting requirement for brokers minutes before SIFMA Ops 2012 cost-basis panel

Just before experts from the public and private sector held a discussion on cost-basis reporting at the SIFMA Operations 2012, the Internal Revenue Service responded to requests from custodial banks and brokers by postponing a requirement that customers' cost basis in debt and options instruments be reported. The IRS said the rules will be delayed for one year. Read SIFMA's letter to the IRS.

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SIFMA OPS 2012: IRS Delays Cost Reporting for Debt, Options - Securities Technology Monitor · IRS Delays Options, Debt Instrument Basis Reporting - Bloomberg Businessweek

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