SurePrep and Bittax lately introduced they’ve a strategic partnership to streamline cryptocurrency tax compliance for tax professionals. In accordance with the duo, this new collaboration ensures tax professionals have the mandatory know-how to handle the wants of taxpayers who will probably be beneath growing IRS scrutiny this 12 months and into the longer term.
Bittax, which is a blockchain-based crypto tax calculation platform, notably generates full crypto exercise tax reviews primarily based on blockchain information assortment and evaluation, each in FIFO and particular identification strategies.
“TaxCaddy and 1040SCAN are acknowledged because the premier taxpayer collaboration and scan-and-populate options within the tax and accounting subject. Collectively, SurePrep and Bittax streamline the gathering, evaluation and reporting course of to make sure forward-thinking corporations are able to serve their purchasers who purchase and promote digital belongings.”
In the meantime, SurePrep now acknowledges Bittax’s 8949 output and exports the information to the main tax software program which eliminates the information entry for purchasers that report good points and losses from digital asset gross sales. Talking in regards to the partnership, Gidi Bar-Zakay, Founder and CEO of Bittax, defined:
“The IRS invests its efforts in taxpayers’ crypto reviews examination and compliance. This upcoming tax season it’s essential for tax professionals to have a easy resolution for crypto tax preparation, which doesn’t require earlier information.”
David Wyle, CEO of SurePrep, the Creator of TaxCaddy and 1040SCAN, added:
“Automation is driving course of enchancment for tax professionals and the mixture of TaxCaddy, 1040SCAN and Bittax permits corporations to assemble their purchasers’ cryptocurrency information and streamline the method of getting ready the 1040 tax return.”
