Startups providing cryptocurrency tax software have proliferated in recent years, and the tools will become even more popular going into the 2020 filing season, industry professionals said.
Demand for the software, which calculates cryptocurrency traders’ taxable gains, grew in the wake of the assets’ exponential increases in value in 2017 and, more recently, spiked after the IRS signaled in July it would crack down on tax-evading traders.
These software products are becoming particularly important now, amid Internal Revenue Service scrutiny of traders who pay taxes on their crypto gains incorrectly or not at all. The agency in October released its ...
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