NODE40 Balance Granted Patent Pending Status by US Patent and Trademark Office

NODE40, a leader in cryptocurrency tax calculation, announced today its SMART algorithm (Simple Multi-Account Reconciliation Technology), designed to track and match the cost basis of cryptocurrency transactions is now patent pending with the U.S. Patent and Trademark Office. “The IRS recognizes that a lot of taxpayers have trouble explaining cryptocurrency transactions on their taxes and often misreport. SMART solves this by prioritizing transparency and accuracy to produce a defensible audit trail the IRS is familiar with and the taxpayer can have confidence in,” said Perry Woodin, CEO of NODE40. The recent patent application covers innovations unique to the crypto tax industry. By focusing on how taxpayers actually transact, NODE40 shifts the focus to proof in numbers for explaining taxes paid or losses taken when reporting to a tax authority. SMART is the latest cryptocurrency tax tool developed by NODE40, giving comfort to taxpayers confused about cryptocurrency tax. Read More...

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