Coinbase, PayPal join TaxBit Network for free crypto tax forms
TaxBit wants to prevent crypto users from spending “thousands of dollars per year” to generate crypto tax forms. Crypto tax compliance firm TaxBit is working to unite major industry companies like Coinbase and Binance.US within one network to enable free 2021 tax forms for users.The crypto tax software provider on Tuesday launched the TaxBit Network, a certified network aiming to democratize crypto tax calculations and tax forms by providing necessary tax reporting data to all network users for free.The TaxBit Network at launch includes about 20 major crypto-related businesses in the....
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U.S. crypto tax compliance startup Taxbit has raised $100 million in a Series A funding round led by investment firms Paradigm and Tiger Global. Paypal Ventures, Coinbase Ventures, and others including Bill Ackman, Ryan Smith, and Anthony Pompliano also joined the round. Taxbit chief executive officer Austin Woodward said the funds will be invested in the company’s enterprise tools as well as used to expand into Europe this year, with the U.K. as the first port of call. “One of the greatest financial innovations and disruptions of the last century, cryptocurrency, should not be....
PayPal Ventures, Coinbase Ventures and Winklevoss Capital invested an undisclosed amount in the firm.
The possible new funding would bring the Utah-based crypto tax automation provider to a valuation of $1 billion or above. The United States-based cryptocurrency tax software developer TaxBit is reportedly looking for new funding at a valuation of $1 billion or more, which would make it a unicorn startup.According to Bloomberg, people with knowledge of the matter said TaxBit is in talks to raise capital, but the terms have yet to be finalized. TaxBit declined to comment on the reports.TaxBit is a Salt Lake City, Utah-based startup founded in 2018 specializing in crypto-related tax processes....
The exchange said users could send the funds to their Coinbase accounts in fiat, or automatically convert it to crypto with no trading fees. Tax filing platform TurboTax is allowing U.S. filers to get their refunds directly in crypto as part of an arrangement with crypto exchange Coinbase.In a Thursday blog post, Coinbase announced users who filed their tax returns using TurboTax would have the option to receive any returns in cryptocurrencies like Bitcoin (BTC) and others supported on the platform. The exchange said users could send the funds to their Coinbase accounts in fiat, or....
Users of the exchange will be able to purchase up to $25,000 in crypto daily using PayPal. Coinbase users with PayPal accounts will now have another way to purchase crypto through the exchange.In an announcement from Coinbase today, the crypto exchange said it would be allowing its customers based in the U.S. to buy crypto using debit cards and bank accounts linked to their PayPal accounts. Coinbase said the move would let many users bypass automated clearing house and wire transfers — methods the exchange still offers — to fund crypto purchases.The integration will reportedly allow....