PHOENIX, Feb. 16, 2012 (GLOBE NEWSWIRE) -- In a press release issued earlier today by NetWorth Services, please note that the headline should have read "Tax-Time Promo for Netbasis Featuring New 8949 Verification Technology Can Help Tax Professionals Grow Business." The full and corrected press release follows:
NetWorth Services, a leading provider of online cost basis applications is offering a special "tax-time" Netbasis promotional package to tax professionals. This "limited time only" promotional package bundles the accuracy of the award-winning Netbasis cost basis application together with the innovative new 8949 Scanner verification tool. For the promotional price of $599.00, tax professionals can not only ensure the accuracy of their client's capital gains tax filings but they can actually guarantee the results.
Netbasis, the flagship product of NetWorth Services, quickly and accurately determines the adjusted cost basis of virtually any security traded in the U.S. as far back as 1925. The vast Netbasis database of historical pricing and corporate actions allows for accurate cost basis calculations in seconds ― even when securities have long and complicated histories of mergers, spin-offs and stock splits. Netbasis enables users to capture and track lot shares acquired under myriad circumstances, including reinvestment, employee stock option and other stock plans, voluntary cash purchases, transfer of ownership, cash or stock dividends, and corporate events.
The newly released 8949 Scanner is a tool that allows tax professionals to instantly verify the accuracy of their client's new IRS Form 8949 (Sales and Other Dispositions of Capital Assets) prior to reporting.
The 8949 Scanner's innovative design contains color-coded alerts for quick reference and expedited work flow. These alerts indicate varying degrees of deviation from accurate cost basis calculations on selected securities.
"The cost basis legislation can present a business opportunity for tax professionals to expand their business offerings, said Nico R. Willis, CEO of NetWorth Services. "The 2011 tax season is the initiation of the cost basis changes to the tax laws. There is still a lot of confusion and taxpayers will depend more on their tax professionals for guidance. Most importantly, the tax professional can help clients avoid the new IRS fine and penalties for incorrect cost basis reporting."
For the first time in the U.S., an A+ rated insurance company has issued an insurance policy that will pay all Federal Penalties that result from software errors in the preparation of your client's 8949 income tax form. This insurance coverage, provided by NetWorth Services, guarantees the accuracy of Netbasis cost basis results.
NetWorth Services, a financial web application and database software company, is based in Phoenix, Ariz., with offices in Philadelphia and New York. Its flagship product, Netbasis, is an award-winning application that quickly and accurately determines the adjusted cost basis for securities. Financial solutions developed by NetWorth have been adopted by many leading financial institutions, transfer agencies, tax preparation software companies, accounting firms, money managers, government agencies, Fortune 500 companies, universities, endowments and individual investors.
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