Coinbase the cryptocurrency exchange and wallet service provider, is reminding it's customers about their upcoming tax obligations. The U.S. tax year ended on Dec. 31 2017 and the users of coinbase are now faced with a sticky banner placed at the top of their dashboard, showing this statement "Please remember to pay your taxes," while they linked the newly updated tax FAQ page on their website.
Coinbase on the FAQ page points that Coinbase "cannot provide legal or tax advice," but it is linked to the Internal Revenue Service (IRS) guidelines describing how to report and pay taxes relating to crypto trading. Users in the EU are faced with this banner as well.
Coinbase now offers users a Cost Basis for Taxes report which is currently in beta and this process is to assist the user. It shows the user transaction history in order to calculate their gains and losses.
