BitPay Partners with Crypto Tax Software ZenLedger

BitPay users gain access to ZenLedger's tax-loss harvesting tool to offset tax liabilities and receive 20% off their annual subscription
PRNewswireFebruary 23, 20233 min

BitPay, the world’s largest provider of¬†Bitcoin¬†and¬†cryptocurrency¬†payment services, has announced a partnership with¬†crypto¬†tax software company,¬†ZenLedger.

BitPay users can sync wallet transactions directly from within the app to ZenLedger’s intuitive tax software. With just a few taps from the BitPay app, ZenLedger will automatically calculate cost basis, fair market value, gains/losses and tax-loss harvesting for a user’s transaction history.

New and current BitPay app users will also receive 20% off their annual subscription to ZenLedger tax software services. Included in the subscription is free access to ZenLedger’s tax-loss harvesting tool. Tax-loss harvesting is the process of selling¬†crypto¬†that experienced a loss and using those losses to reduce ordinary taxable income by up to¬†$3,000¬†per year.

“Our partnership with ZenLedger offers a simple solution to the sometimes complex process of calculating tax liabilities associated with spending¬†cryptocurrency,” said¬†Stephen Pair, CEO of BitPay.

ZenLedger is the IRS’ sole source provider of forensic accounting and taxation software for cryptocurrencies.¬†It is designed specifically for¬†crypto¬†users to calculate tax liability for every¬†crypto¬†transaction. With an easy three step process,¬†crypto¬†users can import transactions, ensure reports are accurate and download tax forms to make filing simple and thorough.

“Crypto¬†payments are a leading driver of industry adoption, which is why we launched a partnership with BitPay to accept¬†crypto¬†at ZenLedger,” said¬†Pat Larsen, CEO and Co-Founder of ZenLedger. “Being able to come full circle and offer our services to Bitpay customers makes the entire end to end user experience faster, easier, and helps to save users money on their taxes.”

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