Partnership Eliminates Complexities of DIY Crypto Tax Filing, Helping Users Remain Tax Compliant
CoinTracker, the market leader in cryptocurrency tax and portfolio tracking for consumers, announced its partnership with H&R Block for the 2023 tax season, a leading tax preparation company. Through the partnership, users can now leverage automated crypto tax filing capabilities to ensure an efficient, accurate, and simple crypto filing experience. Together with H&R Block, CoinTracker is helping bring convenience to the crypto tax filing process.
“The process of crypto tax filing is far too complex. We remain fixated on delivering peace of mind and the requisite tools for all crypto users. Partnering with H&R Block is a major step toward realizing this vision.”
In 2022, nearly half of Americans were unaware that they had to file taxes on digital asset holdings – highlighting the need for simplified, easy-to-use crypto fax filing resources. As the regulatory guidelines continue to evolve, it’s paramount that users are met with the proper tooling and resources to manage their taxes in an efficient and compliant manner. H&R Block and CoinTracker are delivering users an automated crypto tax filing solution, making the manual process of adding all taxable transactions and calculating cost basis more seamless.
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“Last year alone, H&R Block saw an 85% rise in the number of clients who reported crypto transactions,” said Heather Watts, Senior Vice President, Consumer Tax Products and Support at H&R Block. “This figure underscores the importance of people understanding how crypto gains and losses are taxed. This partnership with CoinTracker creates a more streamlined process for our clients to import their crypto tax information accurately and quickly so they can file with confidence knowing H&R Block makes sure our clients get every dollar they deserve, ensuring a maximum refund.”
Through this partnership, users will no longer have to copy and paste crypto transactions from Form 8949 as part of their online DIY tax filing process. Now, through the upgraded functionality, all rows from Form 8949 will be automatically entered within H&R Block Online when their account is connected to CoinTracker.
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In addition to the simplifying the manual process of crypto tax filing, the partnership delivers a number of benefits to H&R Block and CoinTracker users, including:
- A free CoinTracker tax plan for those with fewer than 25 crypto transactions
- A 10% discount on CoinTracker tax plans for those with more than 25 crypto transactions
- A 20% discount on H&R Block online products for CoinTracker users
“This partnership with H&R Block is a monumental achievement for DIY crypto taxpayers,” said Vera Tzoneva, COO at CoinTracker. “The process of crypto tax filing is far too complex. We remain fixated on delivering peace of mind and the requisite tools for all crypto users. Partnering with H&R Block is a major step toward realizing this vision.”
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