NetWorth Services, Inc. is a financial software company that is setting the industry standard for securities-related cost basis information. It is headquartered in Phoenix, Arizona.
Founded to address the long-standing need for an accurate, efficient, automated cost basis solution, NetWorth Services developed its flagship product, Netbasis. The patented technology behind Netbasis has simplified the complexities of calculating adjusted cost basis by identifying and accounting for corporate actions such as stock splits, mergers, spin-offs and dividend reinvestments that may have occurred during the holding period.
Since 2000, NetWorth Services has maintained an ongoing relationship with the Internal Revenue Service. The relationship began when NetWorth Services was selected as a provider to verify cost basis information for the National Research Project, a random audit of approximately 50,000 taxpayers that ultimately became the IRS’s landmark 2005 Tax Gap Report. NetWorth Services extended its online software to the private sector in 2002.
Today, solutions developed by NetWorth Services have been adopted by many leading financial institutions, government agencies, Fortune 500 organizations, universities and endowments.