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CoinTracker Partners With H&R Block to Streamline Crypto Tax Filing Process
Rhea-AI Impact
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Rhea-AI Sentiment
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Tags
partnership
Rhea-AI Summary
H&R Block has partnered with CoinTracker to streamline cryptocurrency tax filing for the 2023 tax season. This collaboration allows users to automate their crypto tax filings, addressing the needs of consumers who were previously unaware of their tax obligations regarding digital assets. In 2022, H&R Block reported an 85% increase in clients declaring crypto transactions. Users can now easily import data from Form 8949 without manual entry. Benefits of the partnership include a free tax plan for fewer than 25 transactions and discounts on both CoinTracker and H&R Block products.
Positive
Streamlined automated crypto tax filing process for users.
85% rise in reported crypto transactions indicates growing user interest.
Free CoinTracker tax plan for fewer than 25 transactions.
10% discount on CoinTracker tax plans for over 25 transactions.
20% discount on H&R Block online products for CoinTracker users.
SAN FRANCISCO--(BUSINESS WIRE)--
CoinTracker, the market leader in cryptocurrency tax and portfolio tracking for consumers, today 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.
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.
“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.
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.”
To learn more about the partnership between H&R Block and CoinTracker, please visit: cointracker.io/hrblock
To begin filing taxes, tracking your crypto portfolio, or to learn more about CoinTracker, visit: cointracker.io. Follow CoinTracker on Twitter, and join the conversation on Telegram and Reddit.
About H&R Block:
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with innovative products like Wave Money, a mobile-first, small-business bank account and bookkeeping solution, that manages bookkeeping automatically. For more information, visit H&R Block News.
About CoinTracker:
CoinTracker is the market leader in crypto portfolio tracking and tax compliance for consumers, leveraging the best technology and partnerships to deliver the highest level of accuracy, simplicity and value year-round. Users collectively track over $50 billion in crypto assets on CoinTracker. Founded in 2017, CoinTracker is backed by Accel, General Catalyst, Initialized Capital, Y Combinator, 776 Ventures, and other leading investors. CoinTracker is the exclusive cryptocurrency tax partner for many of the top exchanges and tax products, including Coinbase, OpenSea, Intuit’s TurboTax, and Blockchain.com. For more information, please visit https://www.cointracker.io.
