Traders: Don't Talk To An IRS Agent Until You Read This (Forbes) - The IRS has several initiatives underway that affect traders and investors. 1099-B matching to Form 8949: I expect issues over IRS cost-basis reporting on securities, including cost-basis, wash sales and short or long-term holding periods.
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Accounting Firms Get an F for Phone Skills (CPA Practice Advisor) - Less than a quarter (24 per cent) of Americans who use a public accountant are satisfied with the way their accounting firms handle their phone calls, according to a new study.
Study Finds Public Pension Promises Exceed Ability to Pay (NY Times) - When Detroit went bankrupt in 2013, investors were shocked to learn that the city had promised pensions worth billions more than anyone knew â creating a financial pileup that ultimately meant big, unexpected losses for Detroitâs bondholders.