NODE40 blog. Stay one step ahead.

Introduction As the blockchain ecosystem matures, companies developing financial products on Solana and emerging Solana Virtual Machine (SVM) blockchains, such as the new FOGO chain, face increasingly complex challenges. These challenges are not just technical but also regulatory, as recent U.S. Treasury and IRS regulations place higher demands on digital asset reporting and compliance. Solana’s […]

As the January 1, 2025 deadline mandating crypto brokers to issue Forms 1099-DA approaches, the industry faces a massive compliance burden that most are unprepared for. Even the estimated 8 billion forms could be too low once tax lot reporting kicks in. Brokers must brace for an onslaught of customer inquiries once these new tax forms start arriving. The 1099-DA […]

The IRS unveiled the much-anticipated draft of Form 1099-DA on April 18th.  It’s crucial that any entity falling under the broker category, as per the proposed rules of August 2023, comprehends the reporting obligations. With the reporting requirement set to kick in on January 1st, 2025, there are only eight months to devise a viable […]

NODE40, a leading provider in the analytics of financial transactions from the blockchain, is pleased to announce that Norman Hannawa has joined the company as Head of Tax and Accounting Solutions. Mr. Hannawa is a tax attorney who brings a wealth of experience in tax and accounting, specializing in digital assets. He has over 20 […]

You made it! Another tax year in the bag — or at least deferred until October. Now you can take the time to think about strategy.  Tax strategy and tax liability are two sides of the same coin. An effective tax strategy can mitigate one’s tax liability. With cryptocurrencies, the difficulty lies in understanding the […]

The IRS is about to make an example out of cryptocurrency tax avoiders – don’t let it be you. This year, the IRS will ask you if you had cryptocurrency in 2019 and it’s going to make a lot of people nervous. Until now, those choosing to report taxes on crypto were somewhat shielded from […]

A lot of people are, but you don’t have to be one of them this tax season. Over the last five years, the customer support team at NODE40 has been fielding all sorts of questions from customers and reporters, so we tailored our self-service tax platform to help you make sense of your cryptocurrency tax […]

You’re probably receiving emails from other crypto tax platforms filled with claims about how they can save you money on taxes. They claim to have some optimized way to crunch your numbers, or they allow you to pick a minimization strategy when you import your data. If your goal is to try and cheat the […]

Different corporate compliance efforts and a rapidly evolving cryptocurrency industry have outpaced the IRS guidance, leading to American taxpayers receiving notices like the CP2000 from the IRS of massive underreporting. Join crypto tax thought leaders from Sovos and NODE40 as they discuss why users of virtual currencies receive underreporting notices from the IRS and how you can fix the […]