Rock Hill, SC, December 17, 2025
TaxBandits, an IRS-authorized e-file provider, has announced its support for the newly introduced IRS Form 1099-DA for digital asset reporting for the 2026 tax filing season. This development is aimed at helping brokers, fintech firms, and other entities efficiently report digital asset transactions, such as cryptocurrencies and NFTs. TaxBandits is equipped to assist filers with e-filing and real-time status tracking to ensure compliance with IRS guidelines. The platform also offers bulk filing and plans to introduce an API for easier reporting.
Rock Hill, SC – TaxBandits, an IRS-authorized e-file provider, has announced support for the newly introduced IRS Form 1099-DA, enabling digital asset reporting for the 2026 tax filing season. This significant development allows brokers, fintech firms, and other entities involved in digital asset transactions to efficiently report sales or dispositions of digital assets, including cryptocurrencies and non-fungible tokens (NFTs).
The 2026 tax filing season begins on January 1, 2026, and TaxBandits is prepared to assist filers in meeting the new reporting requirements. The platform offers e-filing, submission, and status tracking for Form 1099-DA, ensuring compliance with IRS guidelines. Features include automatic validation against IRS Business Rules, flexible data import options, and tools to minimize manual entry errors, thereby reducing the risk of fines.
For high-volume reporting needs, TaxBandits provides scalable options such as bulk filing and plans to introduce an API for direct data transmission from in-house systems in early 2026. These capabilities are designed to support brokers, exchanges, fintech platforms, and other filers with substantial reporting requirements.
TaxBandits continues to enhance its platform in line with evolving IRS guidance, reflecting a commitment to innovation and compliance. The company supports a wide range of forms, including Forms 1099, W-2, 940, 941, 1095-B, 1095-C, and W-9, catering to businesses, service providers, and tax professionals of all sizes.
This advancement in facilitating digital asset reporting is illustrative of a broader trend promoting entrepreneurial innovation within Rock Hill’s business landscape and beyond. By easing the reporting process through automation and comprehensive support, TaxBandits is not only helping businesses meet compliance but is also fostering resilience amidst evolving regulations. This alignment with IRS guidelines is fundamental for local entrepreneurs who can focus their efforts on growth while remaining compliant.
Understanding IRS Form 1099-DA
Form 1099-DA is a new IRS information return required for entities that facilitate digital asset transactions, including fintech applications, custodians, and cryptocurrency exchanges. This form is pivotal as it standardizes the reporting of sales or dispositions of digital assets.
Importance of Compliance for Local Businesses
The introduction of Form 1099-DA underscores a shift towards increased regulatory oversight in the financial landscape, particularly as it pertains to digital assets. For local businesses in Rock Hill, maintaining compliance is essential, and platforms like TaxBandits enable them to navigate this landscape with ease. As more businesses begin to engage with digital assets, compliant reporting becomes not just a legal necessity but a pathway toward building consumer trust and enhancing business credibility.
Capabilities Offered by TaxBandits
TaxBandits offers a suite of services tailored to assist filers with the new reporting obligations of Form 1099-DA. Key features include:
- E-filing and Submission: Supports electronic filing and submission of Form 1099-DA to the IRS.
- Status Tracking: Provides tracking capabilities to monitor the status of filed forms.
- Automatic Validation: Validates information against IRS Business Rules to ensure compliance.
- Flexible Data Import: Offers multiple data import options to streamline the filing process.
- Bulk Filing: Allows for bulk filing to accommodate high-volume reporting needs.
- API Integration: Plans to introduce an API for direct data transmission from in-house systems in early 2026.
Conclusion: Supporting Local Entrepreneurs
The implementation of Form 1099-DA with support from providers such as TaxBandits signifies a forward-looking approach to digital asset regulation that emphasizes compliance while fostering growth. As Rock Hill’s entrepreneurial landscape evolves, the tools and resources available to support small businesses are integral to their success. Residents are encouraged to stay engaged with local developments, support their businesses, and recognize the important role of compliance in driving positive economic outcomes in York County.
Frequently Asked Questions (FAQ)
What is Form 1099-DA?
Form 1099-DA is a new IRS information return required for entities that facilitate digital asset transactions, including fintech applications, custodians, and cryptocurrency exchanges. It reports sales or dispositions of digital assets such as cryptocurrency and non-fungible tokens (NFTs).
When does the 2026 tax filing season begin?
The 2026 tax filing season begins on January 1, 2026.
What services does TaxBandits offer for Form 1099-DA reporting?
TaxBandits offers e-filing, submission, and status tracking for Form 1099-DA, including automatic validation against IRS Business Rules, flexible data import options, and tools to minimize manual entry errors. For high-volume reporting, the platform provides bulk filing and plans to introduce an API for direct data transmission from in-house systems in early 2026.
Key Features of TaxBandits’ Form 1099-DA Reporting
| Feature | Description |
|---|---|
| E-filing and Submission | Supports electronic filing and submission of Form 1099-DA to the IRS. |
| Status Tracking | Provides tracking capabilities to monitor the status of filed forms. |
| Automatic Validation | Validates information against IRS Business Rules to ensure compliance. |
| Flexible Data Import | Offers multiple data import options to streamline the filing process. |
| Bulk Filing | Allows for bulk filing to accommodate high-volume reporting needs. |
| API Integration | Plans to introduce an API for direct data transmission from in-house systems in early 2026. |
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Author: STAFF HERE ROCK HILL
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