Beginning this year, according to forms or regulations the IRS prescribes, any issuer of a “specified security” will have to file an information return setting forth:

1. a description of any organizational action (occurring after December 31, 2010) that affects the basis of the specified security of the issuer;

2. the quantitative effect on the specified security's basis resulting from the organizational action; and

3. any other information IRS may prescribe.

Stock splits, mergers and acquisitions are examples of organizational changes that affect basis. The term "specified security" means any share of stock in an entity organized as, or treated for tax purposes as, a corporation (foreign or domestic). The term does not include membership interests in an LLC that is taxed as a partnership.