Accounting firm H&R Block is providing solutions for taxing cryptocurrency transactions.

The question of whether cryptocurrency transactions should be taxed has always been a topic of discussion. Accounting firm H&R Block in the United States has introduced a new service for cryptocurrency clients aimed at addressing tax-related issues.

According to an official press release on September 24, H&R Block has launched a new service for customers engaged in cryptocurrency trading, specifically providing consultation on how to accurately report cryptocurrency income and losses on their tax returns. In addition, H&R Block is acting as an intermediary between cryptocurrency users and the Internal Revenue Service (IRS), starting to send notice letters to cryptocurrency traders who have unreported income and taxes. The IRS has expanded its tax actions involving cryptocurrency. Initially, the IRS sent letters to 10,000 cryptocurrency investors, requesting some to amend their tax filings while compelling others to pay back taxes, interest, and penalties. IRS Commissioner Chuck Rettig stated, "Taxpayers should carefully review these tax returns, take these letters seriously, and, when appropriate, amend past tax returns. We are expanding our work involving virtual currency, including increasing the use of data analytics. We focus on enforcement and help taxpayers understand and fulfill their obligations." Other companies providing tax calculation services have also taken steps in the cryptocurrency space. PwC released a new tool for its Halo audit software that can be used to provide assurance services for entities engaged in cryptocurrency transactions. In March of this year, Ernst & Young launched a tool aimed at improving the accounting and tax calculations of institutional clients and smaller-scale cryptocurrency traders who hold cryptocurrency assets on their balance sheets. For further reading: - After SEC lawsuit against ICO, KiK considers shutting down its messaging app - Binance officially declares war on Facebook and claims its stablecoin Venus is a competitor to Libra Join now to get the most comprehensive information on financial technology, blockchain insights, and industry examples! [Link to join](https://line.me/R/ti/p/@ace.exchange)