Accounting firms are amazed at the level of detail TaxBit provides. TaxBit prides itself as being the only cryptocurrency tax software founded by the perfect trio of tax attorneys, CPA’s, as well as developers. To this end, TaxBit has developed the most comprehensive audit trail allowing users, accountants, and auditors to drill into any transaction and see exactly how the user’s cost basis and subsequent gains or losses were calculated. There's documentation to help guide you through these situations.
You should consider engaging the assistance of a tax professional to assist with responding to any of these notices. If you chose to respond yourself, we have provided some information above that will help you understand the IRS’s process and what information you want to review in crafting a response.
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