Tech News: Ledgible announces Form 8283 capabilities

Crypto tax and accounting platform Ledgible announced that its software can now produce Form 8283, which concerns non-cash charitable contributions, such as cryptocurrency, worth more than $500. Ledgible Tax will produce an attachment for the 8283 form, so all cryptocurrency transactions applicable to it are included.

The form contains two main sections for reporting donated assets. Part I includes Section A, which lists donated property worth $5,000 or less and publicly traded securities, and Section B, which reports donated property over $5,000, except for publicly traded securities, vehicles, intellectual property, or inventory reportable in Section A. A qualified appraisal is generally required for items reportable in Section B. While Ledgible is not a qualified appraiser, and so will not sign part IV of the form should a donation deduction be more than $5,000, it can provide the necessary information to complete parts II, III, IV, and V of the form, ideally with the help of a tax accountant.

Tax software company Taxaroo announced the launch of its new product, ZeroTax.Ai, an AI-powered bot that understands tax questions phrased in natural language and outputs actionable tax advice in plain English. It is trained to weigh in on a wide variety of tax questions, such as the applicability of a deduction, determining eligibility for various tax credits, calculating tax liabilities and refunds, and advising on tax planning strategies for both individuals and small businesses. Users can simply accept the answer, or pay Taxaroo experts $5 to review it. For those who prefer to talk, instead of type, to ZeroTax.ai, they can call (855) 724-1040 to speak to the AI instead. 

Paystand — a B2B receivables, payables and payments network running on a commercial blockchain — announced the rollout of a new suite of AR and AP tools designed to help businesses manage their full cycle treasury and to better optimize their cash flow under any set of market conditions. This includes Smart Treasury Management for Accounts Receivable, which enables businesses to route receivables automatically as they come in. There is also Instant bill pay using AR funds with no need to interact with bank accounts. As receivables come in, merchants can immediately direct funds to their DeFi Cards without leaving the Paystand Network. They can use their cards to pay vendors and manage operating expenses. Merchants earn 1% back in bitcoin on every purchase with DeFi Cards.