TaxBit
Web3 / compliance
TaxBit is an enterprise-grade cryptocurrency tax and accounting software platform that automates the calculation of tax liabilities, generation of regulatory reports, and management of digital asset portfolios for businesses and institutions. The software integrates with cryptocurrency exchanges and wallets to automatically import transaction data, calculates cost basis using various accounting methods (FIFO, LIFO, weighted average), and generates tax forms and reports compliant with jurisdiction-specific regulations including IRS Form 8949 and Schedule D. TaxBit provides institutional clients with the infrastructure needed to maintain accurate records and demonstrate tax compliance across complex multi-wallet and multi-exchange cryptocurrency holdings. Example: TaxBit was selected by major cryptocurrency platforms and tax professionals to provide White Label tax calculation services, and the company raised significant funding to expand its institutional compliance offerings, eventually being acquired by Upland Software. Why it matters for compliance: TaxBit simplifies cryptocurrency tax reporting and accounting, helping institutions and high-net-worth individuals accurately calculate and report tax obligations while maintaining detailed audit trails required by tax authorities worldwide.
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