​Wolters Kluwer Financial Services' Senior Director and Tax Counsel, Stevie Conlon, will present insights on the recently released 2015 Cost Basis Regulations at the upcoming Securities Industry and Financial Markets Association's Operations Conference, or SIFMA Ops, in San Diego. The Broadridge Financial Solutions Partner Workshop, "Round 4 Cost Basis Regulations: Complex Debt" will take place on Tuesday April 14 at 2:00 p.m. and will feature both Conlon and Justin Hopkins, strategic project manager with Broadridge.

Conlon's presentation will provide an overview of the final and temporary regulations from the IRS that modify reporting on Forms 1099-INT, 1099-OID and 1099-B for debt instruments and cost basis-related transfer reporting for debt and options. These new regulations, which were released on March 12, 2015, do not delay reporting of more complex debt as set forth in the Phase 3, 2013 Final Cost Basis Regulations for Debt & Options.

"The 2015 cost basis regulations create programming and compliance challenges and could result in increased investor confusion," said Conlon. "Brokers may be disappointed to learn that the new regulations do not delay looming deadlines for computing and reporting cost basis adjustments for many kinds of complex debt."

"While we are seeing frustration as a result of the additional programming and operations work required to comply with the new rules, the new regulations include some important tweaks of the 2013 Final Cost Basis Regulations for Debt & Options," added Conlon.

Inaccuracies in reporting place firms at risk of significant fiduciary penalties, reputation damage and customer service challenges in correcting 1099s. Without help from a trusted source, it can be incredibly difficult to obtain reliable tax information and minimize the risk of penalties

To learn more about these regulations and their impact to cost basis reporting, attend this important presentation on April 14. Presentation attendees will also be given an opportunity to find out how to obtain a new whitepaper from Wolters Kluwer Financial Services which covers the 2015 Cost Basis Regulations by visiting booth #300 at the conference.

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions.AppOne®, AuthenticWeb™, Bankers Systems®,Capital Changes, CASH Suite™, GainsKeeper®, NILS®, OneSumX®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.

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