NetWorth Offers Cost Basis Tax Calculation Discount
NetWorth Services said it is offering a special promotion for its online cost basis calculation service, Netbasis, allowing users to buy one transaction and get one free until April 15.
Netbasis provides adjusted cost basis calculations for stock trades to help investors determine the capital gains income to report on their tax returns.
"The design of Netbasis is very user friendly, even though it handles very complex corporate action events," said NetWorth CEO Nico Willis. "It provides complete details of all the corporate action events that had a material impact on the original purchase price of that stock." Among the corporate actions it tracks are stock splits and company spin-offs.
Willis said the Internal Revenue Service used Netbasis for a 2005 tax gap study to quantify the amount of uncollected capital gains tax revenue. The IRS estimates that underreported income from inaccurate cost basis calculations could amount to an additional $10 billion in revenue.
NetWorth is selling one free cost basis transaction for each one purchased at the regular price of $19.50 through April 15. Licenses and volume discounts for three and five transactions are also available. For more information, visit www.netbasis.com/25.