A Move to Streamline the Tricky Space of Crypto Tax

The human arsenal is well-known to be expansive beyond all known limits, but honestly, it has still never possessed anything more valuable than that tendency of ours to grow on a consistent basis. This progressive tendency, on its part, has already fetched us some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, based on its skill-set, which guided us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience from all conceivable directions, but even after achieving such a monumental feat, technology will somehow continue to deliver the right goods. The same has grown to become a lot more evident in recent times, and assuming a new cryptocurrency-related development ends up making the desired impact, it will only make that trend bigger and better moving forward.

CoinTracker, the market leader in cryptocurrency tax and portfolio tracking for consumers, has officially launched a new product called CoinTracker Connect, which is designed to streamline the engagement between tax professionals and taxpayers. According to certain reports, the CoinTracker Connect offers you the perfect avenue to connect with tax pros for data reconciliation, full tax returns, tax attorney advice, and more. Next up, it lets you collaborate with your existing tax pro in a much more robust way via the new tax pro product. Apart from it, the hub also makes it possible for the user to access in-house specialist advice regarding their taxes. These features, in turn, are supposed to create utility across various factors, such as identifying incorrect data, uncovering missing transactions, completing entire tax returns rather seamlessly, and a whole lot more.

“One of the most common questions our clients ask is whether they can be connected with a tax professional who understands the nuances of digital assets. We look forward to bringing Connect to our clients so that they can easily receive the support they need,” said Jessica Williams, Director of Brand and Partnerships at Coinbase.

The launch of CoinTracker Connect provides an interesting follow-up to a discovery that talked about how, although around 21% Americans own cryptocurrency, half of the stated group is still not fully educated on the need to file crypto taxes. Such a notable gap clearly goes on to show the escalating need for crypto reconciliation experts and crypto CPAs to execute full tax returns or provide tax advice. Marking the first time a company is using an end-to-end tax filing hub of this sort, CoinTracker Connect addresses that requirement, while also instilling an optimal amount of convenience throughout the relevant procedure.

“We’re incredibly excited to launch CoinTracker Connect and help millions of users along the crypto tax filing process,” said Vera Tzoneva, COO at CoinTracker. “CoinTracker’s mission is to enable the use of cryptocurrency with peace of mind, in large part by delivering users the requisite resources to be compliant. As the regulatory landscape continues to evolve, we’re confident that CoinTracker Connect will help simplify the crypto tax filing process for users and accounting professionals.”

Founded in 2017, CoinTracker has become a trusted name when it comes to crypto portfolio tracking and tax compliance for consumers. The company’s excellence in what it does is validated by the fact that it currently tracks more than $50 billion in crypto assets. CoinTracker’s also serves some of industry’s biggest players, with names like Coinbase, OpenSea, Intuit’s TurboTax, Blockchain.com, and others, forming its clientele.