Welcome to One-Stop Shop Tax Service for cryptocurrency offered by
SBS Tax and Consulting Services
Our One-Stop Shop Tax service allows you to experience quick, accurate, and simple cryptocurrency tax reporting and filing.
​
Unlike other firms, we truly understand what you need to report with your crypto transactions. We won’t ask you to go from one platform to another to calculate the capital gain and losses on your own. We will calculate cost basis for you to compute any capital gains and losses, and then identify any taxable events and report them on your tax returns.
​
We will discuss your tax situation and filing requirement during our client implementation process, and we will ask you to provide all the requested data documents. After that, you can relax, and we will handle the rest for you.
Cryptocurrency Taxes in the United States
​
There has historically been quite a bit of confusion on how virtual currencies would be taxed. Some believed that they all must be reported as capital gains, and some believed that they don’t need to report them since they have never received 1099 forms from the crypto trading platform.
​
Now, the IRS is actively targeting crypto holders and cracking down on those who are not reporting, under-reporting, or mistakenly reporting with their transactions. According IR-2018-71, the IRS noted that “taxpayers could be subject to criminal prosecution for failing to properly report the income tax consequences of virtual currency transactions”. In other words, it is time to get serious about cryptocurrency tax reporting and filing.
​​