"1,227 Letters and Emails Sent So Far" Mention the petition in EVERY trader forum & chat room that you're in. Most traders aren't even aware of this yet. Just put the link in the other forums & chat rooms that you're in.
"1,278 Letters and Emails Sent So Far" Mention the petition in EVERY trader forum & chat room that you're in. Most traders aren't even aware of this yet. Just put the link in the other forums & chat rooms that you're in.
"1,293 Letters and Emails Sent So Far" Mention the petition in EVERY trader forum & chat room that you're in. Most traders aren't even aware of this yet. Just put the link in the other forums & chat rooms that you're in.
Webinar Recording: Wednesday, March 28, 2012, 1:00 - 2:15 pm EST Botched 1099-Bs, Form 8949 Differences, Tax Prep Tips, Extensions & MTM Elections Panelists: CPAs Robert Green, Darren Neuschwander, and John Padgett of GreenTraderTax Comment: See the smoking gun on botched 1099-Bs, broker-provided realized capital gain and loss reports, and problem Form 8949s. After seeing this Webinar, you will be convinced that you must file an extension and get more relief from brokers and the IRS. Please sign our Petition and share this Webinar and Petition with your broker and other traders. Also, watch the related Webinar done for TradeLog on March 27, below. http://www.greencompany.com/EducationCenter/Trader-Tax-Center/Cost-Basis-Reporting.shtml#webinars
"1,317 Letters and Emails Sent So Far" Mention the petition in EVERY trader forum & chat room that you're in. Most traders aren't even aware of this yet. Just put the link in the other forums & chat rooms that you're in.
"1,419 Letters and Emails Sent So Far" Mention the petition in EVERY trader forum & chat room that you're in. Most traders aren't even aware of this yet. Just put the link in the other forums & chat rooms that you're in.
See smoking guns on botched 1099-Bs from securities brokers in our Mar. 28 Webinar recording March 28, 2012 By Robert A. Green, CPA Our March 28 Webinar shows smoking guns on botched 1099-B reporting from brokers, apples and oranges in the rules between brokers and taxpayers and why itâs irresponsible to file a complete tax return based on these 1099-Bs. Any accountant who signs a tax return with these unreconciled differences is skirting on the edge of malpractice. Donât rush to file a return with these errors and problems. The early bird wonât get the worm; he may get audited by the IRS. See our three important Webinars on cost-basis reporting here. http://www.greencompany.com/EducationCenter/Trader-Tax-Center/Cost-Basis-Reporting.shtml#webinars In the March 28 Webinar, our TradeLog chief accountant shows a 1099-B reporting more than $50 million of incorrect wash sale loss deferrals because the broker reported potential wash sales rather than actual wash sales. TradeLog, however, reports the correct wash sales amount of under $20,000. TradeLog prepares Form 8949 and shows this $50 million plus net âadjustment,â really an overall difference, including the wash sale errors. We think itâs foolish to file a tax return with that type of large difference â it will surely attract undue attention from the IRS. Why not force the broker to fix the wash sale reporting first? Few brokers will reply to these requests before April 15. See how a second brokerâs 1099-B doesnât match TradeLogâs cost-basis reporting information. We simply canât trace the brokerâs cost basis amounts to any correct raw data in TradeLog â which downloads actual trades â and we canât imagine what the broker did wrong here. We know brokers sliced and diced raw data into all sorts of categories in an attempt to comply with new IRS rules and weâve seen several cases of bad accounting, where brokers adjust proceeds when they should adjust cost-basis and vice versa. Watch us demonstrate how this same broker provided the client with a âRealized Gain or Loss Reportâ in his 1099-B Supplemental Information (a section that is not sent to the IRS). This report continues a perpetuation of the unexplained errors stated above. If the client relies on this report, his tax return will be very wrong. We usually donât name names, but we do for these two large online brokerage firms. Itâs time they fess up. While TradeLog software is the best solution in most cases, you need to teach it how to handle your brokerâs 1099-Bs. There are many switches to turn on or off so TradeLog can simulate how your broker handled the cost-basis reporting rules. If you find differences, this is the first place to revisit. For example, did your broker report all ETFs or just securities ETFs (RICs)? The latter is correct. As we explain on the Webinar, itâs not uncommon to find download errors which require correction. Plus, TradeLog doesnât calculate corporate actions â you need to calculate those by hand. This year more than ever before, you need a trained TradeLog accountant and CPA firm to review your TradeLog data files, your accompanying Form 1099-Bs and other Supplemental Information provided with 1099-Bs. On almost every file to date, weâre finding incorrect accounting items that require our assistance, investigation and adjustment. Donât waste days or weeks pulling your hair out; get the help you need from a person highly experienced in finding the differences. File a valid extension by April 17 to have six more months to get this right. Donât forget about the very important Section 475 MTM election due by April 17 with the extension filing, too. Our Petition to Rally Congress is having impact! 559 People Have Sent 1,323 Letters and Emails. We need 20,000 signers and 50,000 letters and emails. Please sign, and also share it with others. http://greentradertax-traders-assoc...lief-on-irs-cost-basis-reporting-ru/?m=758320
"1,518 Letters and Emails Sent So Far" Mention the petition in EVERY trader forum & chat room that you're in. Most traders aren't even aware of this yet. Just put the link in the other forums & chat rooms that you're in.
Last-Minute Tax Tips - WSJ.com Tax Report http://online.wsj.com/article/SB10001424052702304177104577310121246685642.html Ms. Saunders interviewed and quoted my partner Darren Neuschwander and me about the cost-basis reporting problems. See my comment #1. Kudos to the highly-respected Ms. Saunders for getting Fidelity and Schwab to admit to some errors on 1099-Bs. We showed Ms. Saunders our smoking gun blog and Webinar with major Fidelity and Schwab errors. But, these brokers dismissed the errors as minor and as representing a small percentage of their 1099-Bs. That's not what we are seeing on our client's tax files and hearing from traders. I guess it's hard for reporters to take on the biggest advertisers in the financial media. Please help by posting comments on this WSJ article. We need to pressure the brokers and IRS into fixing this mess. And, please keep signing our Petition. Thanks, we can fix this mess if we fight it together.