H&R Block Offers Customers Crypto Advising
Kansas City — Tax firm H&R Block has begun offering an advising service for cryptocurrency. In a press release yesterday, the company revealed it would be helping people who had received an IRS letter inquiring about unreported cryptocurrency trades. A round of 10,000 letters has been sent out this year by the IRS to individuals with large crypto transactions that went unreported. As each crypto trade and transaction is mainly seen as a taxable event in the US, each one should be reported to the IRS.
Other tax companies have begun to assist as well. The large firm PwC released a tool designed to “provide assurance services for entities engaging in cryptocurrency transactions.”