MetaMask selects Summ as official embedded tax solution

We're thrilled to announce that from today, Summ (formerly Crypto Tax Calculator) is available from directly within the MetaMask Portfolio.

This first-of-its-kind integration provides MetaMask users with a seamless way to access a free, geo-specific tax summary of their crypto activity - right from within their MetaMask account.

Crypto investment behaviours are becoming increasingly decentralized. Our users are moving beyond traditional centralized exchanges to explore a wider range of opportunities within the onchain ecosystem. MetaMask, as a gateway to the world of dApps, knows just how crucial it is for their users to get tax reporting right.

Alongside the rapid shift in how users trade, new regulations, including the 1099DA form–which requires exchanges to report transaction activity to the IRS–and the Crypto Asset Reporting Framework (CARF)–which encourages more comprehensive reporting of crypto assets–signal a shift in how crypto investors will need to report on their earnings. If they don't, they will run the risk of being penalized for non-compliance.

By enabling users to report on their taxes right from where they trade, Summ and MetaMask are making it easier than ever for users to get accurate tax reports.

With this integration, Summ now offers MetaMask users an in-wallet tax solution built to handle the complexities of DeFi, NFTs, and cross-chain transactions with the ability to effortlessly generate a downloadable tax report, fully compliant with the regulations of their respective tax authorities.

What this means for you

• Simplified tax reporting: Users can consolidate multiple wallets and reconcile their transactions automatically into a single, streamlined tax report. This feature not only simplifies tax calculations but also lets users immediately know whether they owe taxes.
• Exclusive 30% discount: MetaMask users can subscribe to an annual Summ plan at a discounted rate.
• In-wallet convenience: This embedded experience allows users to manage both their digital assets and tax responsibilities in one place.

Global tax compliance

Through this integration, MetaMask and Summ provide country-specific tax reports for 20+ jurisdictions and customizable support for 100+ countries. Reports are available in multiple languages, including English, German, French, Italian, and Spanish. For users in other regions, the tool offers general capital gains and income tax calculations, with customizable settings to align with local tax rules.

By embedding this tax solution, MetaMask and Summ are making it easier than ever for users to stay on top of their crypto taxes.