IMPORTANT TAX FORM INFORMATION FOR OUR CLIENTS

Tax planning is an important part of the overall investment process.  Janney provides you with a number of required tax planning forms and statements related to your account(s) with us.  The information below should be of assistance as you gather and plan for the tax season.

• Consolidated 1099 Tax Statements will be mailed to our clients over a period of time beginning January 21, 2008 through approximately February 4, 2008. If you have multiple brokerage accounts, you may receive 1099 forms as early as mid to late January, but not receive 1099s for all of your accounts until mid to late February.  Please ensure that you have received the required tax forms for each account that may have taxable activity before beginning to complete your 2007 tax forms for the IRS.
• In some instances, we will be required to mail 1099s later than January 31, 2008 in order to capture as much data as possible from certain investment products including mutual funds, unit investment trusts and other complex investments.  We may delay these 1099s to limit the need for amended forms by providing you the most accurate data we can from the issuers prior to you creating your original tax return.  It is still possible that you may receive one or more amended forms 1099 in 2008 for tax year 2007. Amended 1099 forms will be sent by us to clients as revised information is received from the issuers.
• Since many distributions on Form 1099-DIV are reclassified after year-end, we strongly urge you to wait as long as possible before preparing your returns. For a number of reasons, the Income and Distribution totals on your December accounts statement may not represent the amounts to be reported to the IRS. We recommend consulting with your professional tax advisor to explain how this may apply to your individual situation.

To assist you in planning for your 2007 taxes, we have created the following schedule of the various informational forms and statements Janney (or others) will mail to you over the coming months. Any amended forms are typically mailed between February 19 and April 1.  You will receive only those forms below that are appropriate for the type of activity in each of your accounts.   

Thank you for choosing Janney for your investment, financial and retirement planning needs.  Should you have questions regarding the tax documents we are providing you please contact your Financial Consultant.  Tax preparation questions should be directed to your professional tax advisor.