Contributing Expertise to Educate and Inform on Tax and Accounting for Cryptoassets
Atlanta, February 10, 2021 – 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 crypto assets 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 crypto assets and blockchains in accounting.
“There are challenges to accurately financially report and handle taxation for crypto-assets and Ledgible looks forward to being part of the Accounting Blockchain Coalition to bring clarity and guidance to crypto assets 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 crypto assets 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 crypto-assets and save time and reduce complexity by automatically syncing information directly from cryptocurrency activity.
Verady (https://ledgible.io/) provides AICPA SOC assured portfolio tracking and reporting of crypto assets. The Ledgible platform delivers solutions for Tax, Accounting, and Confirmation. Verady believes traditional accounting systems, firms, and standards are currently lacking around cryptocurrencies. The Ledgible platform is the bridge between cryptoassets and traditional financial accounting.
About The Accounting Blockchain Coalition
The Accounting Blockchain Coalition is an industry association formed to educate businesses and organizations on accounting matters relevant to digital assets and distributed ledger technology, including blockchain.