In preparation for the Infrastructure Bill in 2023, TaxBit will provide Prime Trust with industry-leading Tax information reporting and compliance solutions
TaxBit, the tokenized economy’s leading tax and accounting software provider, announced a new collaboration with Prime Trust, the leading provider of financial infrastructure for fintech and digital asset innovators.
The upcoming Infrastructure Bill and ever-changing tax environment for digital assets has created significant challenges for companies in the digital asset space to remain tax compliant. This partnership will provide all Prime Trust customers with TaxBit’s tax information reporting and compliance solutions, including Forms 1099 reporting and portfolio performance statements.
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Austin Woodward, TaxBit CEO, commented on the news, “It’s great to collaborate with forward-looking companies like, Prime Trust. Getting ahead of the 2023 deadline is important for any company working in the digital asset space. Our tax reporting and compliance solutions provide companies looking to incorporate digital assets an end-to-end solution to quickly, securely, and compliantly meet the needs of the digital era.”
By adding TaxBit’s tax and reporting capabilities, the historically complex tax compliance process across the digital asset space is streamlined. Any company using Prime Trust’s full suite of API-based infrastructure solutions, including, custody, compliance, liquidity, and settlement can now easily and quickly launch tax compliant offerings.
“We pride ourselves on empowering our customers to quickly launch a crypto business via a single API integration” said Sara Xi, Chief Product Officer, Prime Trust. “Tax compliance and reporting are critical to us as a crypto-first infrastructure provider. To support our exponential growth, we are actively scaling our automated reporting and tax compliance product, where TaxBit will play a key role.”
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About TaxBit
Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the tokenized economy. TaxBit’s platform serves the industry’s top exchanges, institutional investors, governments, and individuals. TaxBit has raised over $230 million from the world’s top investors in order to enable the widespread adoption of digital assets by automating the regulatory tax and accounting compliance hurdles at scale. TaxBit has HQs in Salt Lake City and Seattle.
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