BitPay Teams Up with Crypto Tax Software ZenLedger

BitPay, the world’s largest supplier of Bitcoin and cryptocurrency payment services, has announced a collaboration with ZenLedger, a crypto tax software firm.

Users of BitPay may sync wallet transactions straight from the app to ZenLedger’s user-friendly tax software. With only a few taps from the BitPay app, ZenLedger will automatically compute cost basis, fair market value, gains/losses and tax-loss harvesting for a user’s transaction history.

New and existing BitPay app customers will also receive a 20% discount on ZenLedger tax software services. Included in the membership is free access to ZenLedger’s tax-loss harvesting tool. Tax-loss harvesting is the act of selling crypto that has lost money and utilizing the proceeds to lower ordinary taxable income by up to $3,000 each year.

ZenLedger is the IRS’s exclusive vendor of cryptocurrency forensic accounting and taxes software. It is particularly intended for bitcoin users to assess tax liabilities for each crypto transaction. Crypto users may import transactions, check reports are correct, and obtain tax forms in three simple steps to make filing straightforward and complete.

CEO of BitPay, Stephen Pair, said:

“Our partnership with ZenLedger offers a simple solution to the sometimes complex process of calculating tax liabilities associated with spending cryptocurrency.”

Pat Larsen, CEO and Co-Founder of ZenLedger, said:

“Crypto payments are a leading driver of industry adoption, which is why we launched a partnership with BitPay to accept crypto at ZenLedger. Being able to come full circle and offer our services to Bitpay customers makes the entire end to end user experience faster, easier, and helps to save users money on their taxes.”