IRVINE, Calif., Dec. 16, 2020 /PRNewswire/ -- SurePrep and
Bittax announced a strategic partnership to streamline
cryptocurrency tax compliance for tax professionals. This
partnership ensures tax professionals have the necessary technology
to address the needs of taxpayers who will be under increasing IRS
scrutiny this year and into the future.
Bittax generates full crypto activity tax reports based on
blockchain data collection and analysis, both in FIFO and specific
identification methods. TaxCaddy and 1040SCAN are recognized as the
premier taxpayer collaboration and scan-and-populate solutions in
the tax and accounting field. Together, SurePrep and Bittax
streamline the gathering, analysis and reporting process to ensure
forward-thinking firms are ready to serve their clients who buy and
sell digital assets.
Gidi Bar-Zakay, founder and CEO
of Bittax, explained, "The IRS invests its efforts in taxpayers'
crypto reports examination and compliance. This upcoming tax season
it is crucial for tax professionals to have a simple solution for
crypto tax preparation, which does not require previous
knowledge."
Bittax innovative algorithms auto-complete missing blockchain
information and indicates discrepancies. The system provides
optimal tax liability by performing crypto-specific identification
on the blockchain.
SurePrep now recognizes Bittax's 8949 output and exports the
data to the leading tax software which eliminates the data entry
for clients that report gains and losses from digital asset
sales.
David Wyle, CEO of SurePrep, the
maker of TaxCaddy and 1040SCAN, added "Automation is driving
process improvement for tax professionals and the combination of
TaxCaddy, 1040SCAN and Bittax allows firms to gather their clients'
cryptocurrency data and streamline the process of preparing the
1040 tax return."
The two companies are hosting a joint webinar on Jan. 6 at 11 a.m.
Pacific/2 p.m. Eastern to showcase
how the combined solutions automate virtual currency and crypto tax
compliance for tax
professionals: https://www.cpaacademy.org/webinars/a0D2S00000ogsUGUAY.
About Bittax
Bittax (https://www.bit-tax.com/) is a
blockchain-based crypto tax calculation platform designed to meet
the highest standards of tax regulations. Bittax provides CPAs and
tax professionals with 8949 cryptocurrency tax forms, authenticated
tax calculations and proof sheets for IRS examinations. The system
extracts all transactions from the blockchain, including real-time
data and full history, processing it with the crypto exchanges data
to calculate and produce crypto tax reports.
Bittax's friendly tax calculation tool enables immutable
mathematical proof for both tax results and supporting
data.
About SurePrep
Founded in 2002, SurePrep
(https://corp.sureprep.com/) is the leader in 1040 tax automation
for CPA firms. We provide innovative, comprehensive and
productive 1040 tax automation solutions that include scan and
populate with an optional OCR verification service, outsourcing and
a two-time award-winning mobile solution that eliminates the paper
organizer. Our solutions are utilized by over 23,000 tax
professionals at CPA firms large and small, ranging across the
spectrum from Big 4 firms to sole practitioners.
Media Contact:
Or Lokay
Bittax
or@bittax.com
775.349.0175
Greg Pope
SurePrep
gpope@sureprep.com
949.863.2008
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SOURCE SurePrep