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Yeah... no. Corporations didn't lobby the IRS to make the 1099B cost-basis wrong on employee stock options. They didn't lobby the IRS to make ISO/AMT calculus
by bpodgursky 4y ago
Yeah... no. Corporations didn't lobby the IRS to make the 1099B cost-basis wrong on employee stock options. They didn't lobby the IRS to make ISO/AMT calculus practically impossible.
There a LOT of things that are enormously difficult through the neglect or apathy of the tax authorities, not because some faceless corporation demanded it.
- lmm 4y ago> Corporations didn't lobby the IRS to make the 1099B cost-basis wrong on employee stock options. They didn't lobby the IRS to make ISO/AMT calculus practically impossible. They absolutely did. The reason that stuff is so complex is companies want to be able to give stock options at artificially low values so that their employees can defer or avoid paying taxes on them.
- kelnos 4y agoI think "corporations" there is referring to the tax-prep lobby, not to random companies who want to give their employees equity comp in tax-advantaged ways. I don't think Intuit and their ilk specifically lobbied to make it so brokerage firms didn't have to report adjusted/correct cost bases to the IRS for these sorts of things. But they have certainly lobbied to keep the IRS from doing our taxes for us. They're not the only problem in that regard, but they're a significant one.