A blockchain tax return tool will soon become a reality. Thomson Reuters Tax & Accounting has collaborated with Verady to develop a tool to track crypto transactions. Once added to the GoSystem TaxRS, this blockchain tax tool will assist the government in the Taxreturn procedure.
The tool will help streamline classification, organization, and accountancy of digital assets. It accurately tracks cryptocurrency trades and reports the same on tax returns. This tool will act as a great innovation for tax returns. Although security and the trusted data source is an issue, Verady solves the problem.