BUSINESS BRIEFS
Tax forms late at brokerage firms
Advertiser Staff and News Services
Some brokerage houses are warning customers that their tax-reporting forms will be sent out late this year — and that they may have to be corrected later.
The delays and corrections could force millions of taxpayers to file their returns — and get their refunds — later than usual.
At least five firms — Morgan Stanley, Merrill Lynch, Wachovia Securities, Edward Jones and Raymond James — are delaying mailing at least some 1099 forms, which report dividend and interest income.
They hope to avoid the errors that forced many firms to issue revised 1099s in recent years. The brokerages have received monthlong extensions from the IRS to send out 1099s after the usual Jan. 31 deadline.
EBAY DENOUNCES 'SHILL BIDDING'
EBay Inc., the world's largest online auctioneer, said it would suspend any dealers on its site suspected of dishonestly boosting the price of items they are selling, a practice known as "shill bidding."
"Shill bidding is strictly prohibited on eBay," the San Jose, Calif.-based company said in an e-mailed statement. "If we establish shill bidding has taken place, then a seller risks being indefinitely suspended from eBay."
Earlier on Sunday, London's Sunday Times newspaper reported that some traders in high-priced goods such as antiques and autos are known to get associates to bid for articles they are selling to force up the price. Some traders bid on their own products, the newspaper said.
'ED' STAR LANDS SMITHSONIAN GIG
WASHINGTON — Actor Tom Cavanagh — best known as the star of television's "Ed" — will host a series of 30-minute shows for the Smithsonian Institution's joint TV unit with Showtime Networks Inc., slated to launch in April.
The new company, Smithsonian Networks LLC, is set to announce Monday about a half-dozen of its initial 60 programs, including a co-production deal with the BBC's flagship "Timewatch" history series and documentaries focusing on the Smithsonian's treasured artifacts.
