NETWORTH SERVICES, INC

Taxation/Internal Revenue Code

Report language urging the IRS to acquire an independent capital gains taxable basis system.

TargetedSENATE · HOUSE OF REPRESENTATIVES

Budget/Appropriations

Report language urging the IRS to acquire an independent capital gains taxable basis system.

TargetedSENATE · HOUSE OF REPRESENTATIVES

Financial Institutions/Investments/Securities

1. Report language FY 22 Financial Services Appropriations that was subsequently subsumed into the Omnibus urging the IRS to acquire an independent capital gains taxable basis system. 2. Requesting language for part of the base bill or alternatively report language for FY 23 Financial Services Appropriations. IRS should put in place a pilot program to determine the extent to which having an independent means to verify the taxable basis of assets, including new financial instruments like cryptocurrencies, allows the IRS to close the tax gap with respect to capital gains. Also asking the Committee to provide a minimum of $3 million dollars for a pilot program.