Tax authorities around the world are increasing their focus on crypto transactions and companies are rushing to help investors navigate the unclear regulations. The latest example is Thomson Reuters which has added a new tool for American tax payers to report crypto dealings to the IRS.
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Thomson Reuters Gosystem Tax Now Supports Crypto
Toronto-headquartered multinational mass media and information firm, Thomson Reuters Corporation (NYSE: TRI), has revealed that its Individual Gosystem Tax system is launching a “Virtual Currency Organizer” for IRS 1040 form preparation. The tool will be a single point of data entry for crypto dealings including exchanges, forks, purchases and payments. Users of the income tax software suite will now be able to review all transactions in a central location and have the information properly reported on the relevant forms.
“Virtual currencies, or cryptocurrencies, continue to be a dizzying draw to investors. Many…