GAO to IRS: improve cost basis and transaction settlement reporting implementation.

• Position: FTBNEWS

The Government Accountability Office recently issued a report that ultimately recommended the IRS improve implementation of cost basis and transaction settlement reporting. The report also recommends the IRS should, among other things:

* Clearly document the assumptions and rationale for Form 1099 volume projections used in resource planning decisions, and consult with research analysis and statistics when developing projections.

* Work with the U.S. Treasury to share with the public its plans and expected release...