LibraTax IRS-Compliant Bitcoin Accounting Software Nears Launch
Libra has announced the imminent release of LibraTax, a new software suite designed specifically for digital currency users. The California-based software developer said LibraTax allows individuals and small businesses to comply with the latest IRS regulations and file returns reporting bitcoin, XRP and other cryptocurrency transactions. The suite should become available by the end of August. LibraTax allows bitcoin users to comply with accounting requirements put forth by the IRS earlier this year. Libra said the software will accommodate "all 2013 and earlier" digital currency users as....
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Cryptocoin tax software company Libra has made its first product, LibraTax, publicly available to help cryptocurrency users calculate their tax obligations and get compliant with relevant regulations. The software will allow individuals and businesses to optimize their US tax filings, and it will accommodate cryptocurrency users from 2013 and before, including those who filed for tax extensions in the spring, the company said in a statement. LibraTax retrieves a user’s transaction history from the blockchain and cross-references that data with a given currency’s historical market value.....
Libra announced it has raised $500,000 in a new seed round led by New York-based, seed-stage investment fund Liberty City Ventures. The round, which coincides with the formal launch of its IRS-compliant accounting software LibraTax, also included participation from Raptor Ventures managing director James Pallotta and former Facebook software engineer and current BitGo CPO Ben Davenport. Speaking to CoinDesk, Libra CEO Jake Benson indicated that the company intends to use the funds to build around its core product, creating a wide range of solutions for businesses and certified public....
Libra, provider of Bitcoin tax accounting service LibraTax, has released two new services to help businesses and CPAs account for digital currency transactions in 2014. The IRS gave guidance that virtual currency is classified as a capital asset and taxable as property rather than currency in 2014. The services - Libra Business and Libra Pro, the latter for CPAs and accounting firms with Bitcoin clients - expands on capital gain/loss tax reporting by introducing familiar reports used for bookkeeping and monthly reconciliation. The Libra software interfaces with the blockchain, the public....
LibraTax, a Bitcoin tax compliance solution for businesses, recently closed a $500K USD seed funding round. LibraTax's seed funding was headed by Liberty City Ventures; other seed funders include Raptor Ventures' managing director James Pallotta and BitGo CPO Ben Davenport. LibraTax's CEO Jake Benson envisions building a core product for Bitcoin tax compliance with the raised funds. Bitcoin businesses and certified CPAs need to be able to interface easily in order for Bitcoin to succeed in the mainstream. Also read: LibraTax Opens to the Public. Bitcoin Tax Nightmare Just Got Easier. When....
Libra is officially launching their first product today, LibraTax, which aims to be an all-in-one solution for individuals and businesses looking to simplify tax obligations when it comes to digital currencies. Up until now, LibraTax has been in beta, and the service provides users tools to be in compliance with Internal Revenue Service (IRS) requirements, and also from governments around the world. Also of interest, LibraTax integrates nicely with Coinbase and Blockchain wallets, making it easy to import transactions and calculate what is owed to tax authorities comes tax season. In....