SALT LAKE CITY, May 11, 2021 /PRNewswire/ -- The IRS recently selected TaxBit, subcontracting under DPI Inc., to provide data analysis and tax calculation support for taxpayers with cryptocurrency. TaxBit provides tax automation software to enterprises, consumers, and government entities.
"This is a milestone moment for the cryptocurrency industry. It indicates regulators are embracing the asset class, but doing so in a way that ensures a straightforward approach to conform with existing regulations. We believe this is an important step for the enablement of widespread cryptocurrency adoption." Austin Woodward, Co-Founder and CEO of TaxBit.
TaxBit's platform has produced and helped customers file millions of tax forms across the market verticals it serves. TaxBit Enterprise and TaxBit Consumer transform the cumbersome experience of cryptocurrency tax reporting in a way that not only ensures compliance with tax law but also helps users actively tax optimize their investments and use of cryptocurrency.
Tax compliance isn't the only focal point of the company. Working hand-in-hand with several of the leading cryptocurrency platforms, TaxBit is also developing the industry's first Big Four & SEC grade accounting ERP solution that will publicly launch later this year, along with plans for international expansion in 2021.
Founded in 2018 by CPAs, tax attorneys and software developers TaxBit automates all aspects of cryptocurrency tax compliance and accounting. Working across multiple market verticals, TaxBit Enterprise, TaxBit Consumer and soon to launch TaxBit ERP transforms the previously cumbersome experience of cryptocurrency tax reporting and accounting in a way that not only ensures compliance with tax law but also helps consumers optimize their investments and use cryptocurrency. TaxBit is located in Salt Lake City, UT. To learn more visit: www.taxbit.com, Twitter, LinkedIn.