Together, the two companies aim to launch the first end-to-end tax filing solution within the cryptocurrency industry. This integration, in partnership with april changes the traditional approach to tax aggregation, optimisation, and filing. The aim is to streamline the often-intricate process of managing and filing taxes for cryptocurrency and digital asset traders by consolidating these functions into a single platform.
According to the company press release, the complexity of cryptocurrency taxation has grown significantly, leading individuals and businesses to rely on multiple tools and platforms for tax compliance. The fragmented nature of crypto, decentralised finance (DeFi), and non-fungible token (NFT) platforms has made tasks such as tax loss harvesting and cost basis calculations challenging without a unified view of transactions across various exchanges and wallets.
ZenLedger has already simplified this process by automating calculations and easing the traditional laborious procedures. With this new data integration, ZenLedger is looking to improve user experience by consolidating the entire tax process, eliminating the necessity for users to handle tax forms when using tax preparation software.
The main features of the new integration
The most important aspects of the integration between ZenLedger and april are as follows:
- Full-service solution: the integration with april offers users the first fully integrated crypto tax e-filing solution, eliminating the need for multiple tax platforms.
- One-click data import: users can transfer Crypto Tax Reports from ZenLedger to their returns without handling forms like 8949 or .csv.
- AI-powered and user-friendly: AI-powered features, including Optical Character Recognition (OCR) form capture, simplify data entry for common forms like W-2 and previous years’ form 1040.
In the official press release, representatives from ZenLedger emphasised the significance of simplifying the tax return process. In turn, officials from april highlighted the failure of traditional tax technology to meet the needs of the dynamic economy. They also expressed excitement about partnering with ZenLedger to deliver a holistic tax filing experience for cryptocurrency users.
As the cryptocurrency market expands, ZenLedger and april have expressed a commitment to offering innovative solutions that help individuals and businesses to maximize returns and navigate the tax landscape in an efficient manner.
More information about the two companies
ZenLedger aggregates user transaction information across thousands of exchanges, wallets, and tokens into one simple dashboard, facilitating the calculation of personal crypto taxes, audits, or investigations.
As for april, it specialises in helping US-based users file, estimate, and optimise their taxes through AI-powered tax experiences integrated into various financial decision-making processes.