TaxBit
TaxBit offers a unified enterprise compliance platform for tax information reporting and crypto accounting, trusted by Fortune 500 companies and regulators.
Services
TaxBit offers a unified enterprise compliance platform designed for tax information reporting and crypto accounting. They provide specialized solutions for enterprise tax and accounting, catering as well to the public sector. Their platform includes Digital W9/W8 solutions that feature automated IRS TIN verification and Broker Cost Basis solutions for automated digital asset cost basis calculations. They also offer a sub-ledger accounting system specifically for cryptocurrency, which integrates with various enterprise resource planning (ERP) systems. Additionally, TaxBit supplies a crypto pricing service to ensure accurate asset and exchange pricing data.
TaxBit Dashboard
The TaxBit Dashboard is designed to streamline tax operations for enterprises. This feature is part of their broader compliance platform and aims to simplify tax processes through automation. The dashboard provides users with real-time, role-based, and legal entity-based access, facilitating efficient management and oversight of tax-related activities. It is designed to reduce manual workload by automating information collection and validation processes, ensuring data accuracy and compliance.
Compliance Solutions
TaxBit offers comprehensive compliance solutions that cater to current and future digital asset accounting standards. This includes support for upcoming crypto accounting standards set by the Financial Accounting Standards Board (FASB). Their platform incorporates robust security measures, including independent annual audits and a strong controls framework, aligning with regulatory expectations. These features make TaxBit a trusted partner for Fortune 500 companies and help enterprises navigate the evolving regulatory landscape.
Information Reporting Suite
TaxBit provides a thorough suite for information reporting, designed to facilitate compliance with tax regulations. This suite includes automated digital asset cost basis calculations and tools for IRS TIN verification. By automating these processes, TaxBit aims to ensure precise and efficient reporting, helping organizations maintain regulatory compliance with minimal manual intervention. The company's solutions are built to integrate seamlessly with existing ERP systems, enhancing the overall functionality of enterprise tax and accounting processes.
Industry Engagement
TaxBit actively engages with the industry by hosting webinars and events that focus on digital asset regulations and compliance strategies. These initiatives are part of their efforts to educate and inform users about the latest developments in cryptographic tax regulations and best practices. Through these engagements, TaxBit ensures its clients and partners are well-informed and prepared to meet compliance requirements, fostering a deeper understanding of the regulatory environment.