CryptoPrep collects information on a user’s trades made on and off major exchanges and compiles it into a downloadable 8949 tax form.
According to EY, close to 17,000 people have filed claims for refunds from QuadrigaCX. However, with the Canadian taxman in the mix, refunds could take years.
Ernst & Young has announced that it will turn over massive amounts of data, including personal information, to the Canada Revenue Agency.
The story asserted that its financial woes were caused by banking partners and discovered that the millions of dollars reportedly held for users by the platform had most likely been mismanaged
Ernst & Young representatives most likely got together for a drink when they had a “lightbulb” moment.
Even after Ernst & Young have finished their audit, there's still no way of knowing where there crypto exchange's funds have gone.
The new software facilitates accounting as well as tax calculations for cryptocurrency transactions, and is part of a rollout piloted by Ernst & Young all over the world in the blockchain services field.