Wall Street Fraud Watchdog Demands Congress Amend IRS Stock Loss Rules to Equal the Amount of the Loss in the Same Year It Was Incurred--Not A $3000 Carry Over For Next Year-Or Years

    WASHINGTON, DC, December 09, 2015 /24-7PressRelease/ -- The Wall Street Fraud Watchdog is urging members of the US Congress to enact meaningful legislation that levels the playing field for stock market investors who sold a stock and made a profit, and stock market investors who sold a stock at a loss. As it stands right now a US citizen who sells a stock at a profit within twelve months of purchase gets the full blast capital gains tax from the IRS.

However, if a short, or long term investor sells a stock at a significant loss all they get is a $3000 deduction to be applied to the tax year in which the stock sale took place. According to IRS regulations if the loss exceeds $3000 the extra loss can be carried forward to the next tax year. What happens to the middle class stock investor if they incurred a loss of $30,000 or more? Why a double tax standard for those making a profit, or incurring a loss when it comes to the IRS, and capital gains, or losses in the US Stock Market? http://WallStreetFraudWatchdog.Com

The Wall Street Fraud Watchdog says, "Why is the US Congress allowing the IRS to have a ridiculous double standard when it comes to how US citizens are treated if they sell stocks for a loss, or gain? We have seen the arguments that one can offset their stock losses with their stock profits, but that is a ridiculous argument.

"What if after holding one, or two stocks for a ten month period of time a middle class investor sells one of their position's in a stock at a loss of $30,000. Is the best the IRS, or for that matter the US Congress can do is offer this investor who took the stock loss a $3000 deduction for the next ten years?

"Every member of the US House a Representatives is up for re-election in 2016 and this is the kind of tax reform most US Citizens expect from their elected representatives. Is it too much to ask the US Congress to actually do something that helps middle class Americans with fair taxation, or tax regulations that make sense?" http://WallStreetFraudWatchdog.Com

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