Missouri-based software development firm, CryptoTrader.Tax launched a new client product to facilitate crypto taxation and reporting. While the year approaches an imminent end, the firm believes; certified public accountants and professionals will need to report their taxes according to IRS guidelines. CryptoTrader made the announcement through a press release dated Nov 25. 
<h2>The tool Facilitates auto-generation of client’s tax reports</h2>
The crypto tax professional suite by CryptoTrader.Tax will provide a step-by-step procedure enabling crypto transaction importation by clients; as described in the website. Additionally, the software will facilitate tax professionals to <a href="https://www.cryptoknowmics.com/crypto/us-startup-launches-ai-powered-coin-assistant-for-managing-crypto-assets/">auto-generate</a> tax reports for its clients by implementing transaction information; imported into the client suit.As well as manage multiple client logins and ensure automated importing. 

Since the release of new IRS guidelines for crypto taxing in October; at least 150 million Americans will have to respond to the form 1040. Without considering the fact they received, sent, sold or exchanged virtual currency or not. 

The report noted that the United States Internal Revenue Service anticipates roughly 12 million tax returns comprising the form 1040 of crypto ventures. 
<h2>CryptoTrader.Tax CEO: Increased Demand to Automate Crypto Tax Reports</h2>
CEO and co-founder of Crypto.Trader.Tax, David Kemmerer highlighted that the new question on form 1040 denotes all tax professionals will have the task of asking their clients whether they engaged in any crypto-related activities during the year; Furthermore, the tax professionals should also be ready to handle cryptocurrency taxation for the clients. Meanwhile, the Executive Officer stated that their tax <a href="https://bespokeunit.com/suits/dress-codes/business-professional/">professional suit </a>was in a bid to certify high demand for automated tax reporting by tax professionals: 
<blockquote>“We’re seeing that thousands of tax professionals are now looking for software tools to help them automate crypto tax reporting for their clients. We are excited to launch our crypto tax professional suite to provide a much needed solution for these professionals.”</blockquote>
At the moment, CryptoTrader.Tax has several thousands of users on the platform and to date has processed up to $10 billion worth of cryptocurrency transactions. 

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CryptoTrader Just Launched New Software for Reporting Crypto Taxes

Missouri-based software development firm, CryptoTrader.Tax launched a new client product to facilitate crypto taxation and reporting. While the year

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

CryptoTrader Just Launched New Software for Reporting Crypto Taxes

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