NODE40 blog. Stay one step ahead.

As the January 1, 2025 deadline mandating crypto brokers to issue Forms 1099-DA approaches, the industry faces a massive compliance burden that most are unprepared for. Even the estimated 8 billion forms could be too low once tax lot reporting kicks in. Brokers must brace for an onslaught of customer inquiries once these new tax forms start arriving. The 1099-DA […]

The IRS unveiled the much-anticipated draft of Form 1099-DA on April 18th.  It’s crucial that any entity falling under the broker category, as per the proposed rules of August 2023, comprehends the reporting obligations. With the reporting requirement set to kick in on January 1st, 2025, there are only eight months to devise a viable […]

NODE40, a leading provider in the analytics of financial transactions from the blockchain, is pleased to announce that Norman Hannawa has joined the company as Head of Tax and Accounting Solutions. Mr. Hannawa is a tax attorney who brings a wealth of experience in tax and accounting, specializing in digital assets. He has over 20 […]

Swapping, zapping, farming. Smart contracts, NFTs, wormholes. Welcome to the world of cryptocurrency accounting. Not only is the vocabulary often foreign, but the underlying technology is evolving so rapidly that it can take time to remain informed.  If your clients engage with cryptocurrency, you need to support them or risk losing business. If you don’t […]

The report discusses the current state of the blockchain economy and provides a primer on key blockchain technologies and use cases. “Interest in cryptocurrencies has never been higher.” – FT Partners report: The Blockchain Economy, April 2022 FT Partners, a leading investment banking firm focused exclusively on the financial technology sector recently included NODE40 in […]

You made it! Another tax year in the bag — or at least deferred until October. Now you can take the time to think about strategy.  Tax strategy and tax liability are two sides of the same coin. An effective tax strategy can mitigate one’s tax liability. With cryptocurrencies, the difficulty lies in understanding the […]

The IRS is about to make an example out of cryptocurrency tax avoiders – don’t let it be you. This year, the IRS will ask you if you had cryptocurrency in 2019 and it’s going to make a lot of people nervous. Until now, those choosing to report taxes on crypto were somewhat shielded from […]

A lot of people are, but you don’t have to be one of them this tax season. Over the last five years, the customer support team at NODE40 has been fielding all sorts of questions from customers and reporters, so we tailored our self-service tax platform to help you make sense of your cryptocurrency tax […]

NODE40, a leader in cryptocurrency tax calculation, announced today its SMART algorithm (Simple Multi-Account Reconciliation Technology), designed to track and match the cost basis of cryptocurrency transactions is now patent pending with the US Patent and Trademark Office. “The IRS recognizes that a lot of taxpayers have trouble explaining cryptocurrency transactions on their taxes and […]