In this article, Ignites journalist Jackie Noblett reviews the major challenges associated with new cost basis reporting rules that the brokerage industry has implemented this tax season. The 2011 tax year is the first year these rules came into effect and they have added focus on firms’ systems and operations. The same challenges are awaiting fund firms next year when phase two, affecting mutual funds, takes effect. Cameron Routh, Senior VP and Managing Director of Strategic Products at Scivantage, together with other industry experts, highlights takeaways and lessons learned to make next year’s tax season smooth when mutual fund cost basis tax reporting requirements begin. To read the full article click here.