Wolters Kluwer Financial Services has partnered with Broadridge Tax Services on combining their cost basis and tax reporting compliance systems.

The partnership unites Wolters Kluwer’s GainsKeeper CompleteDebt software with Broadridge Tax Data Services to improve tax reporting and reconciliation to meet the needs of broker-dealers for reporting debt, equities, mutual funds, options and other types of assets.

GainsKeeper CompleteDebt debt calculator complies with the necessary tax rules to make the complex basis adjustments required by Phase III of the IRS and Treasury Department’s final regulations for cost basis reporting of debt instruments and options. 

Wolters Kluwer Financial Services plans to leverage Broadridge’s Tax Managed Services to complement its information reporting functions for clients looking for a combined basis and tax reporting system. The combination will provide an integrated system to broker-dealers that selected both GainsKeeper and Broadridge Tax Data/Tax Managed Services.

For more information, visit the Wolters Kluwer Financial Services site.

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