Verady, maker of the Ledgible cryptocurrency tax and accounting platform, announced that the Company joined the Accounting Blockchain Coalition. Verady’s extensive expertise will add to working papers, education, and other resources on important issues around cryptoassets and the evolving tax and accounting ecosystem in the United States as well as globally.
Verady joining the Accounting Blockchain Coalition (ABC) is important this week with the opening of tax filing season by the IRS on Friday, February 12. New for 2020, the Tax Form 1040 includes the virtual currency question. As a member of the ABC, Verady will help evolve ABC into an objective, industry resource and community for organizations involved with cryptoassets and blockchains in accounting.
“There are challenges to accurately financially report and handle taxation for cryptoassets and Ledgible looks forward to being part of the Accounting Blockchain Coalition to bring clarity and guidance to cryptoassets and their implications,” said Kell Canty, CEO of Verady. “Through our Ledgible Partner Program, we’ve assembled the largest network of crypto tax and accounting experts, and are excited to share our expertise with even more partners as we move forward to make crypto tax and accounting an understandable growth sector for today’s professionals.”
Ledgible Tax Pro from Verady is a SOC Audited platform for tax planning and reporting on cryptoassets and produces the IRS Form 8949 and other reporting formats that are directly importable to filing systems used by tax professionals. Ledgible integrates with all major professional and consumer tax reporting and accounting systems. Business, customers and accounting professionals can account for Bitcoin and other cryptoassets and save time and reduce complexity by automatically syncing information directly from cryptocurrency activity.