Year-End Tax Updates
In a blog commentary
on year-end tax issues for stock plan participants, the NASPP's Barbara Baksa credits Bruce Brumberg, editor-in-chief of myStockOptions.com, with pointing out an important potential source of confusion in the proposed new IRS Form 1040 tax return. "Bruce Brumberg of myStockOptions.com pointed out to me that it's a little hard to tell where capital gains are supposed to be reported on the new Form 1040, so much so that employees might not realize that they have to report capital gains.... Failing to report sales of stock on their tax returns is one of the most common mistakes employees make with their stock compensation. If this draft version of Form 1040 becomes final, the risk that employees will make this mistake will be even higher."