ZenLedger, a provider of blockchain data and tax solutions, this week announced a partnership with april, a developer of AI-powered financial technology focused on modernizing taxes, to launch the first end-to-end tax filing experience in the crypto industry. Integrating with april, an IRS-authorized e-file provider, brings tax aggregation, optimization and filing into a single platform and radically simplifies the process of managing and filing taxes for cryptocurrency and digital asset traders.
Cryptocurrency taxation has become increasingly complex, with individuals and businesses often juggling multiple tools and platforms to meet their tax compliance needs. Because of the deeply fragmented nature of crypto, DeFi and NFT platforms, it’s been difficult to perform tax optimization processes like tax loss harvesting, or even simple cost basis calculations, without having a single view into all the transactions across the different exchanges and wallets.
The solution eliminates the need for multiple tax platforms. The new integration with april provides users with the first fully integrated crypto tax e-filing solution. Users can also transfer crypto tax reports from ZenLedger to their return without handling an 8949 or .csv.
AI-powered features include optical character recognition (OCR) form capture. That improves the data entry process for common forms like W-2 and previous years’ form 1040.
“Tax returns are already a stressful experience for customers. The need to try and coordinate those calculations across multiple tools is unnecessarily burdensome for the average taxpayer,” said Pat Larsen, CEO and co-founder of ZenLedger. “The path to an accurate return should be clear and simple, which is what this solution is providing. We’re eliminating the confusion of customers mediating the output from different tools to their e-filers.”
Zenledger users will import their aggregated trade data into april’s platform with a single tap. The tax experience has been optimized for mobile, allowing users to review the data they’re importing.
“Tax technology and the archaic preparation process has failed to meet the needs of today’s dynamic economy,” said Ben Borodach, co-founder and CEO of april. “We’re excited to partner with ZenLedger to help taxpayers maximize their financial opportunities by delivering the first holistic tax filing experience for cryptocurrency.”