NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Newly Launched Node40 to Make Tax Calculations and Reporting Easier

Gautham
Gautham
4 years ago
3 mins read
Bitcoin Taxation Italy

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The cryptocurrency community in the United States is coming under the IRS scanner lately. The taxation authority has been exploring ways to find defaulters who have failed to report the gains obtained from their cryptocurrency holdings. It even went as far as issuing a John Doe summons to Coinbase, the leading cryptocurrency platform, asking them to furnish all the details of its customers including their cryptocurrency holdings. However, the cryptocurrency users have a different problem, as many of them don’t have a clue about how to file the returns, thanks to the lack of clarity and comprehensive guidelines from the IRS.

Node40, the leading blockchain infrastructure hosting service provider, is making the whole process easier with its recently launched Node40 Balance — a cryptocurrency tax calculation software. The new software will plug a huge void in the industry, which is currently flooded with conventional bookkeeping products and services that are no good for calculating the gains and losses incurred by digital currency transactions and holdings. Unlike other traditional assets, cryptocurrencies are known for their volatility which makes it much harder to manually factor in the value of each incoming bitcoin and the increase or decrease in its price over a period of time.

The company announced the launch of its Node40 Balance earlier yesterday in a press release. The software is designed to track and make cost-basis calculations by directly pulling the transaction related information from the blockchain. The processed calculation is then added to the IRS Form 8949, making it easier to file returns. The Node40 Balance currently supports Dash, and in the next few days, it will include Bitcoin support as well.

The press release quotes the CEO of Node4o, Perry Woodin explaining the attended saying,

“Node40 Balance is a feature packed blockchain accounting service that brings the familiarity of services like QuickBooks or TurboTax to the world of digital currency. Node40 Balance analyzes the blockchain and provides valuation data for all of your transactions. You annotate your transactions according to your real-world needs and Node40 Balance provides reports with your gains, losses, and income. What makes Node40 Balance unique is the precision in which gains and losses are calculated. A simple FIFO strategy is not sufficient for dealing with digital currency transactions. Node40 Balance uses the true carrying cost and days held to calculate precise valuations that ensure you are not over-reporting your tax liability.”

The recent performance of Bitcoin and other cryptocurrencies before the end of tax season has led to a substantial increase in the value of the digital currency holdings of many. These gains, calculated based on the initial value of the tokens at the time of receipt will be liable to taxes. Launched at the ideal time, cryptocurrency investors and holders can now use Node40 Balance to calculate their exact tax liabilities and settle them as well.

Node40 Balance is being offered by the company as a Software as a Service (SaaS), and people can buy a subscription to use it. Currently, the subscriptions are available for one, three and twelve month periods. With the new offering, Node40 has gained an edge over its counterparts. In the coming days, more people are expected to start using the service to file their crypto-related taxes.

The success of Node40 will also encourage other companies to come up with their own versions of digital currency tax calculating applications.

Ref: press statement | Image: Shutterstock
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

비트코인 금리 인하 수혜 전망…레이어2 프로젝트 ‘비트코인 하이퍼’ 투자 열기 확산

비트코인 금리 인하 수혜 전망…레이어2 프로젝트 ‘비트코인 하이퍼’ 투자 열기 확산

미 연방준비제도이사회(Fed)가 기준금리를 0.25%p 인하했다. 이번 조치는 미국 동부시간 기준으로 오후 2시부터 적용됐다. 같은 날 열린 기자회견에서 제롬 파월(Jerome P...

Soyeon Lee 5 hours ago
bitcoin-price-forecast-fed-rate-cut-rally-120k-next-100x-altcoin-tw

比特幣價格預測降息引發上漲目標12萬 下個100倍幣關注焦點是這個!

在眾多投資者盯著比特幣每日兩趟的K線起伏時,喜馬拉雅山脈之中,一個鮮有人提起的內陸國度卻悄然做出一筆交易:不丹,這個以快樂指數而非GDP著稱的國家,從政府關聯錢包中移轉出913枚比特幣,價值約1.07...

Mark Mak 5 hours ago
Bitcoin Price Retreats Lower Again

Bitcoin Price Retreats Lower Again – Is This Just a Healthy Dip?

Bitcoin price failed to extend gains above $117,750. BTC is now moving lower and might even test the $113,200 support...

Aayush Jindal 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

AxCNH and KRW1 Stablecoins Launch in Asia as $BEST Token Soars Past $16M on Presale

AxCNH and KRW1 Stablecoins Launch in Asia as $BEST Token Soars Past $16M on Presale

Aaron Walker 1 hour ago
Binance Coin's Epic 10% Rally: Which Best Altcoins Will Explode Next?

Binance Coin’s Epic 10% Rally: Which Best Altcoins Will Explode Next?

Aaron Walker 1 hour ago

Dogecoin Price Could Break Into Double-Digit Rally From This Fibonacci Level

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • Najlepšie altcoiny na nákup, keď cena Solany smeruje k historickým maximám

    Najlepšie altcoiny na nákup, keď cena Solany smeruje k...

    8 minutes ago
  • Най-добрите алткойни за покупка...

    30 minutes ago
  • Mit vásárolnak, adnak el és tartanak a kripto bálnák?

    Mit vásárolnak, adnak el és tartanak a kripto bálnák?

    49 minutes ago
  • Legjobb altcoinok vásárlásra, ahogy a Solana árfolyama közelít minden idők csúcsához

    Legjobb altcoinok vásárlásra, ahogy a Solana árfolyama...

    49 minutes ago
  • Najbolji altcoini za kupnju dok se cijena Solane...

    51 minutes ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.