{"id":31002,"date":"2020-10-30T16:15:50","date_gmt":"2020-10-30T14:15:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31002"},"modified":"2025-08-28T01:02:35","modified_gmt":"2025-08-27T22:02:35","slug":"gemini-customers-to-gain-automated-tax-reporting-option","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gemini-customers-to-gain-automated-tax-reporting-option\/","title":{"rendered":"Gemini customers to gain automated tax reporting option"},"content":{"rendered":"<p>The Winklevoss twins&#8217; Gemini cryptocurrency exchange will integrate TaxBit&#8217;s Tax Center Suite in the first half of 2021. The technology will allow clients to generate real-time tax-ready reporting in the format required by the Internal Revenue Service (IRS).<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It\u2019s never too early to start thinking about your crypto taxes. Excited to announce our partnership with <a href=\"https:\/\/twitter.com\/TaxBit?ref_src=twsrc%5Etfw\">@TaxBit<\/a> to integrate their Tax Center Suite technology to help you automate and optimize your <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> tax reporting!<\/p>\n<p>Learn more on our blog: <a href=\"https:\/\/t.co\/QibPEU7hyA\">https:\/\/t.co\/QibPEU7hyA<\/a><\/p>\n<p>\u2014 Gemini (@Gemini) <a href=\"https:\/\/twitter.com\/Gemini\/status\/1321784416411201536?ref_src=twsrc%5Etfw\">October 29, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>&#8220;TaxBit&#8217;s automation tackles the problem of calculating taxes on cryptocurrency trades,&#8221; said Tyler Winklevoss, co-founder of the Bitcoin exchange.<\/p>\n<\/blockquote>\n<p>The Tax Center Suite functionality will allow users to control and reduce tax liabilities, or potentially increase tax refunds.<\/p>\n<p>Winklevoss Capital, run by the Winklevoss brothers, is an investor in TaxBit.<\/p>\n<p>In the Internal Revenue Service (IRS) Form 1040, the question about digital currencies was first <a href=\"https:\/\/u1f987.com\/en\/news\/us-residents-to-report-cryptocurrency-investments-on-the-first-page-of-the-tax-return\">placed on the first page of the document<\/a>. Its new version <a href=\"https:\/\/u1f987.com\/en\/news\/us-residents-to-report-crypto-assets-received-through-airdrops\">requires<\/a> residents of the country to report coin receipts arising from hard forks.<\/p>\n<p>In July, ForkLog reported that the IRS planned to add tools to track anonymous cryptocurrencies.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Winklevoss twins&#8217; Gemini cryptocurrency exchange will integrate TaxBit&#8217;s Tax Center Suite in the first half of 2021. This will enable clients to generate real-time reports in the format required by the Internal Revenue Service (IRS).<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,719,558],"class_list":["post-31002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-gemini","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31002"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31002\/revisions"}],"predecessor-version":[{"id":31003,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31002\/revisions\/31003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}