Libra Services has released LibraTax, a new software solution that lets individuals and businesses that have transacted business in Bitcoin and other digital currencies to calculate their tax obligations.
The software calculates reportable capital gains on digital currencies following guidance released by the Internal Revenue Services in March. It retrieves a user’s transaction history and synchronizes it with the digital currency’s historical fair market value, and accommodates all types of taxable events, including income, gifts and donations.
“We’re excited that these easy-to-use, automated tools for consumers, tax professionals and accounting firms are finally available,” said Libra founder and CEO Jake Benson.
In addition to LibraTax, the company is also developing a product suite for small business and enterprise needs. It is also developing a CPA affiliate program that links them with individual or corporate taxpayers seeking professional help.
For more information, visit the LibraTax Web site.