FREQUENTLY ASKED QUESTIONS
What is TaxToken?
How does Triple-Entry Tax work?
STEP 2: Users continue their everday spending habits.
STEP 3: Every transaction made with the smart card is recorded on the blockchain.
STEP 4: Our AI software sorts the transactions into an itemized list of tax deductions.
STEP 5: Come tax season, users return their itemized deductions, accept the TaxToken fee, and submit.
STEP 6: TaxToken autofills users’ 1040 forms for them and submits to the IRS.
What tools are provided in the TaxToken product suite?
- Automatic generation of ready-to-file tax reports
- Patent-pending “One-Click” Crypto gains and losses tracker
- Patent-pending text-to-block donations
- Smart Card, Wallet and Exchange integration
- Secure decentralized storage
- Year-round coverage of all taxable events
Why does TaxToken use blockchain technology?
Blockchain technology offers complete transparency and fraud protection with its immutable, distributed ledger. This immutable and auditable technology incompasses what is deemed necessary for documentation purposes.