Princeton, N.J.-based IPA 100 firm Withum (FY24 net revenue of $610.7 million) has launched a cryptocurrency cost basis tracking service designed to help individuals and businesses navigate the complexities of digital asset taxation and compliance.
The new offering comes as the IRS requires Form 1099-DA for the first time in 2025, mandating entities with digital asset transactions to file detailed reports. Withum’s solution leverages technology integrations and in-house expertise to help clients accurately track the cost basis of crypto holdings, meet IRS reporting requirements and strategically plan for tax obligations.
“As the crypto industry continues to mature and regulations evolve, our clients require more than just compliance – they need clarity and strategy,” said Dan Krolikowski, partner and co-leader of Withum’s founders and tech executive services practice. “This offering empowers our clients to make informed decisions, reduce tax exposure and stay ahead of regulatory changes.”
The service addresses challenges unique to digital assets such as high-frequency trading, decentralized finance activity, NFT transactions and cross-border events. Capabilities include audit-ready tax reports, strategic tax planning, seamless wallet and exchange data aggregation, automated cost basis tracking using FIFO, LIFO and Specific ID methods and classification of complex crypto events.
Withum notes the service is tailored for high-net-worth individuals, crypto-native businesses, startups, family offices, wealth managers and institutional investors.
