SEATTLE, Jan. 26, 2021 /PRNewswire-PRWeb/
-- ZenLedger, a cryptocurrency tax software and blockchain
analytics startup, announced a strategic partnership with Abra, a
leading financial services and technology company, that operates an
all-in-one, custodial cryptocurrency wallet and exchange.
With the addition of the virtual currency question to the top of
Form 1040 for 2020 filings, cryptocurrency users will likely need
the assistance of crypto tax software to report their taxes
properly. The latest IRS guidance states that if crypto users
received, sold, mined, or traded cryptocurrency in 2020, they are
required to report the gains and losses of their transactions on
tax returns.
This new partnership allows Abra customers to easily access
crypto tax assistance through the ZenLedger platform so they can
view their crypto trading history, understand their tax
liabilities, and generate tax forms using their preferred
accounting method. Both companies can provide even better service
to their clients and help them stay compliant with this
integration, which will help when tax season officially kicks off
on February 12th.
"ZenLedger will help our customers manage their crypto taxes
easily, addressing a key pain point for Abra customers today. We
are excited to announce this partnership with the ZenLedger team,"
says Ivan Galli, VP of Operations at
Abra.
"We are delighted to be Abra's preferred crypto tax partner and
to have the opportunity to service their 1M+ customers not only for
their 1099-MISC needs, but also for their complete crypto tax and
accounting requirements," says Dan
Hannum, COO at ZenLedger.
ZenLedger, a Seattle based
Fintech startup with 15 team members, has grown revenue and
customers by over 500% year over year. The cryptocurrency tax
startup has helped thousands of investors and tax professionals
with tax filings and financial analysis, saving them many labor
hours and thousands of dollars. ZenLedger software aggregates user
transaction information across multiple exchanges, wallets, and
tokens in one simple dashboard, making it easy to calculate tax
liability.
With over a million customers, Abra offers a simple app that
allows investors to buy, sell, hold, and trade 100+
cryptocurrencies as well as earn interest on several of the most
popular cryptocurrencies and US dollar stablecoins. Abra can fund
your wallet, build a portfolio, trade, and earn interest all in one
place.
About ZenLedger
Founded in 2018, and built by industry veterans in technology,
finance, and accounting, ZenLedger quickly imports clients'
cryptocurrency trading history, calculates gains and losses, and
generates tax forms. ZenLedger helps cryptocurrency investors stay
IRS compliant with integration support for over 400+ exchanges, 40+
blockchains, and 20+ DeFi protocols. Calculating cryptocurrency
taxes is difficult, and ZenLedger makes it stress-free by offering
automatic tools to reduce the manual work of crypto tax
preparation. For more information, visit https://zenledger.io/.
ZenLedger Press Kit
About Abra
Abra is creating a simple and honest mobile-first crypto bank to
enable millions of consumers to manage and grow their crypto assets
easily. The Abra service empowers customers in more than 150
countries to earn interest* on crypto assets and US dollar
stablecoins alongside the ability to buy, sell, hold, send, and
trade cryptocurrencies anywhere, anytime.
Abra's global mission is to democratize access to financial
services. Founded in 2014 and headquartered in San Francisco, Abra is available in over 155
countries. Investors include American Express Ventures, First Round
Capital, Foxconn Technology Group, Arbor Ventures, Lerer Hippeau,
Carthona Capital, RRE Ventures, DCG Group, and many others. For
more information, visit https://www.abra.com/.
ZenLedger Media Contact
Spring Dunn
Director of Marketing
spring@zenledger.io
Abra Media Contact
Lomesh Dutta
Head of Growth
lomesh@abra.com
Media Contact
Spring Dunn, ZenLedger, +1
7132918243, spring@zenledger.io
Twitter, Facebook
SOURCE ZenLedger