Thomson Reuters New Tool Will Help to Deal with Cryptocurrency Taxes 

2019-12-24 17:56

Coinspeaker
Thomson Reuters New Tool Will Help to Deal with Cryptocurrency Taxes 

The new Thomson Reuters tax tool is set to report cryptocurrency taxes within the crypto space. Sources indicate that Reuters GoSystem Tax RRS Products will also include a “Virtual Currency Organizer”. This will enable users of the system to file form 1040 in the United States effectively. The new tool will also serve as a central hub for all things related to cryptocurrency for the users. They include reviews on payments, hard forks, cryptocurrency exchanges and so on.

Reuters in a blog post said that the recent letters issued by the United States’ IRS raise the need for tax tools. This new tool allows for accurate reporting of cryptocurrency taxes. The tool also provides the centralization of data. This will help to achieve greater harmonization of tax obligations.

New Tool Will Offer Accurate Information

Financial and accounting professionals will have an opportunity to receive accurate information about cryptocurrency transactions. This will enable perfect reconciliation. Users of Verady’s Ledgible blockchain platform intended for accounting will be able to create reports that will be compatible with Reuters’ Ultra Tax and the Go System Tax products.

Sources further indicate that Kell Canty, CEO of Verady, said:

 “Once Ledgible users have integrated their wallet and exchange activity, they’ll be able to notify their accounting professionals that the data is ready to go. Tax preparers can then bring that data into the GoSystem Tax product, placing it in the virtual currency organizer.”

This creates legitimate uses for the crypto space. Cryptocurrency taxes have been difficult for many people. Canty mentioned the firms’ involvement in assisting firms in creating accounting solutions for blockchain and cryptocurrency transactions since 2014. Canty also noted that Verady performed BitPay’s first audit in 2014.

Reuters New Tax Tool is Just the First for Cryptocurrency Taxes

U.S. regulators are looking at cryptocurrency taxes. Canty indicated that other solutions could be possible. He said:

“We are currently focused on making the collaboration with Thomson Reuters the best in the industry. As other opportunities come about, we will evaluate them on a case-by-case basis.”

This, of course, raises the stakes. Solutions of this kind are quite rare. Cryptocurrencies are a new asset class. Canty said that Fenbushi Capital which is one of the investors in Verady is also considering introducing Ledgible to the Asian market. This would be a big plus for the industry. 

The response of governments towards cryptocurrencies is just beginning. A shift is occurring as regards the legality of cryptocurrency and digital assets using tax revenues. The good thing here is that now cryptocurrencies and digital assets are being taxed (or starts to being taxed). This will provide the cryptocurrency markets with a possibility boom in 2020.

Thomson Reuters New Tool Will Help to Deal with Cryptocurrency Taxes 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034444 (-100%)

thomson cryptocurrency new reuters tool help deal

thomson cryptocurrency → Результатов: 17


Фото:

Thomson Reuters Partners With Cryptocompare to Provide Clients With Up-to-date Crypto Market Data

Investor interest in cryptocurrency is predicted to increase in the coming months despite the currently depressed crypto market. Anticipating the increasing demand for up-to-date crypto market data for its clients, Thomson Reuters recently partnered with CryptoCompare, a leading global crypto market data aggregator.

2018-8-6 16:20


CryptowCompare needs to provide Thompson Reuters with data of crypto assets

CryptoCompare will source all its data to the Thomson Reuters’ Eikon platform thereby providing a comprehensive view of the crypto market price movements. Canada-based media giant Thomson Reuters has entered into a strategic partnership with the global cryptocurrency market data aggregator CryptoCompare to track 50 more cryptocurrency assets on its finance data feed. As a

2018-8-1 12:21


CryptoCompare 50 offers Crypto assets data information with Thomson Reuters

CryptoCompare will source all its data to the Thomson Reuters’ Eikon platform thereby providing a comprehensive view of the crypto market price movements. Canada-based media giant Thomson Reuters has entered into a strategic partnership with the global cryptocurrency market data aggregator CryptoCompare to track 50 more cryptocurrency assets on its finance data feed. As a

2018-8-1 10:33


Фото:

Blockstream Buys Mining Equipment From Chinese Manufacturer Innosilicon

Blockstream, one of the largest Bitcoin Core funding contributors, has evidently bought a lot of cryptocurrency mining equipment from the Chinese electronics hardware manufacturer Innosilicon. Does this mean that the company is setting up its own mining center? Also Read: Thomson Reuters Eikon to Display Data on 50 Cryptocurrencies From Cryptocompare Blockstream Buys Mining Equipment […] The post Blockstream Buys Mining Equipment From Chinese Manufacturer Innosilicon appeared first on Bitcoin News.

2018-8-1 05:00


Фото:

Thomson Reuters будет отслеживать данные о сотне криптовалют

Медиакомпания Thomson Reuters расширяет свой набор инструментов для получения данных о 100 криптовалютах. Об этом сообщает Coindesk. Компания запустила фид о bitcoin в марте этого года в партнерстве с MarketPsych Data LLC.

2018-6-13 15:51


Thomson Reuters расширит криптовалютный фид данными о сотне токенов

Медиакомпания Thomson Reuters дополнит инструменты анализа данных информацией о 100 различных цифровых валютах. Об этом сообщает СoinDesk. Первоначально фид о биткоине был запущен Thomson Reuters в партнерстве с MarketPsych Data LLC в марте текущего года.

2018-6-13 12:58