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Author: Timothy Bourgaize Murray
Source: Sell-Side Technology | 15 Jan 2013
Categories: Accounting
Topics: TechG2 FinTechCost basis
TaxGopher+, G2 FinTech's cost basis reporting (CBR) solution for investment managers, will support fixed-income and options transactions, the final covered securities under the US Internal Revenue Service's 1099-B rules to be introduced beginning in 2014.
The new tool also adds a tax lot retirement engine to TaxGopher, G2's well-established tax analysis solution for accurate information on taxable gains and losses. In addition to fixed income and options, which are included in the third phase of 1099-B adoption, the tool can produce compliance reports for equities, mutual funds, and exchange-traded funds.
TaxGopher+ comes as G2 looks to enhance functionality for additional rules and geographies to its offerings in 2013. "G2 FinTech will further our efforts to expand beyond the US tax code and help the investment management community abroad address localization requirements related to specific overseas compliance and tax jurisdictions," says George Michaels, the vendor's CEO.
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