Binance.US Launches Tax Statements Portal and Joins TaxBit Network
Binance.US users access free tax forms via TaxBit Network.
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TaxBit, the leading tax and accounting software provider for the tokenized economy, recently announced the launch of TaxBit Network—the first-of-its-kind network to provide FREE 2021 cryptocurrency tax forms to all users of supported TaxBit Network companies, including Binance.US, who announced a free Tax Statements portal that allows users to easily export their taxable crypto transactions.
The free Tax Statements portal, available to all Binance.US customers, features new tools to help customers prepare their crypto taxes.
Historically, the process of generating cryptocurrency tax forms cost individuals anywhere from hundreds to thousands of dollars per year depending on whether they used do-it-yourself software or enlisted an accountant. The TaxBit Network eliminates this barrier to mainstream digital asset adoption; every user of a supported TaxBit Network company receives free, accurate 2021 tax forms.
Binance.US Tax API Key tool
Binance.US customers who use third party tax reporting platforms can use the Tax API Key tool to share their crypto transaction data. The new Tax API Key tool offers wide compatibility with most third party tax reporting platforms.
We worked closely with TaxBit, a crypto tax and accounting platform, to ensure Binance.US customers can generate free, ready-to-file tax forms by connecting their Binance.US account to TaxBit.
Binance.US is part of the TaxBit Network. TaxBit supports 500+ cryptocurrency sources via API and CSV upload. Customers filing as individuals can consolidate cryptocurrency data across any platform within the TaxBit Network.
For step-by-step instructions, follow our guide on How To Generate Your API Tax Key. Once you have your API Tax Keys, you’ll be able to connect your Binance.US account to TaxBit and other third-party platforms.
Free tax forms are available relating to transactions on supported TaxBit Network platforms. If a user has taxable transactions on platforms that aren't part of the TaxBit Network, a cost will apply to retrieve tax forms from out-of-network platforms. TaxBit is a third-party service; companies included in the TaxBit Network aren't liable for the services provided by TaxBit. See taxbit.com/terms for more details.
Learn more about TaxBit
Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the tokenized economy. TaxBit's platform serves the industry's top exchanges, institutional investors, governments, and individuals. Our software, tax experts, and excellent customer service can help you solve and subvert roadblocks with new compliance protocols or reporting issues.
TaxBit raised over $230 million from the world's-top investors in order to enable widespread digital asset adoption by automating the regulatory hurdles of tax and accounting compliance at scale. TaxBit has headquarters in Salt Lake City and Seattle.
Keeping track of dozens of crypto transactions can be a lot of work. As your portfolio becomes more complex, using cryptocurrency tax software becomes increasingly beneficial. Use TaxBit to help track the details of your crypto transactions and automatically generate the necessary tax forms.
TaxBit’s DeFi support allows you to sync in any transfers, trades, and approvals you’ve made on a DeFi platform involving ERC-20 tokens on the Ethereum network, or BEP-20 tokens on the Binance Smart Chain network. Additional DeFi protocols are coming soon.
To learn more visit: www.TaxBit.com, Twitter, LinkedIn.
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