Last Updated on April 17, 2026 by Patrick Camuso, CPA
Patrick Camuso was included on the Forbes 2026 Best-in-State Top CPAs list, marking a second consecutive year of recognition.
That recognition comes at a time when the digital asset landscape is evolving quickly, and the gap between traditional tax and accounting systems and digital asset activity continues to widen. This gap is showing up across reporting, system design, and in areas of activity that do not fit cleanly into existing tax and frameworks.
The implementation of Form 1099-DA is one example. While it represents progress toward standardized reporting, it also highlights the limitations of the current infrastructure. In practice, reported data is often incomplete or disconnected from the underlying transaction history, particularly where cost basis, wallet-level activity, and cross-platform transfers are involved.
At the same time, emerging markets such as prediction markets are introducing additional complexity. Platforms like Kalshi and Polymarket generate activity that does not map clearly to existing tax treatment. Questions around characterization, contract lifecycle, and reporting remain unsettled, even as taxpayers are expected to report and support positions.
Across Web3 more broadly, the same pattern continues. Multi-wallet portfolios, on-chain and off-chain fragmentation, and evolving transaction types are placing pressure on systems that were not designed for this environment. The result is a widening gap between what is reported and what can be substantiated.
This gap is not only technical. It exists between how regulators define the rules, how systems are built to capture activity, and how taxpayers actually operate within digital asset markets. Through ongoing work with investors, founders, and others operating across the ecosystem, these issues are encountered directly in conversations around reporting, system design, and compliance as the market evolves.
At Camuso CPA, the focus is on building the systems that support that standard. This includes reconstructing transaction histories, aligning reporting across platforms, and developing tax and accounting approaches that reflect the underlying activity rather than forcing it into traditional models.
As regulatory guidance continues to develop, the expectation is not simply that more data will be reported, but that it will be examined more closely. The difference between surface-level reporting and positions that hold up under scrutiny will continue to become more pronounced.
Research, Media, and Industry Work
Patrick Camuso’s work on digital asset taxation has been published in leading policy and industry publications, including Tax Notes, and has been cited in outlets such as Wired, Bloomberg Tax, and Accounting Today, including coverage of emerging areas such as prediction market taxation, where formal guidance remains limited.
Through The Financial Frontier and ongoing engagement with investors, founders, and policy participants, these issues are also explored in real time as the digital asset landscape continues to evolve.
About the Forbes Best-in-State Top CPAs List
The Forbes Best-in-State Top CPAs list is developed through a multi-step evaluation process that includes editorial research, industry nominations, and review by an independent advisory board. Candidates are assessed based on recent work, professional impact, and contributions to the accounting profession.
What This Work Reflects
What does it mean to be a Forbes Best-in-State Top CPA?
The Forbes Best-in-State Top CPAs list is developed through a multi-step evaluation process that includes editorial research, industry nominations, and review by an independent advisory board. Selection reflects recent work, professional impact, and contributions to the accounting profession.
How is digital asset tax and accounting different from traditional accounting?
Digital asset activity introduces complexity that traditional systems were not designed to handle. Multi-wallet structures, on-chain and off-chain fragmentation, and evolving transaction types create challenges around cost basis, classification, and reporting consistency. As a result, there is often a gap between what is reported and what can be substantiated without system-level reconstruction and alignment.
How are prediction market transactions taxed in the U.S.?
Prediction market transactions do not fit cleanly into existing tax frameworks, and formal guidance remains limited. Tax treatment depends on how contracts are structured, entered, and settled, with potential characterization ranging across capital, ordinary income, or other frameworks depending on the facts. In practice, reporting requires a defensible, documented approach that can be applied consistently across all activity.
What makes Camuso CPA different from other crypto CPAs?
Camuso CPA focuses on complex digital asset activity where reporting, accounting, and tax positions must align and hold under scrutiny. This includes reconstructing transaction histories, building accounting systems for Web3 environments, and developing approaches that reflect how activity actually occurs across wallets, platforms, and emerging areas such as prediction markets. The work centers on consistency, documentation, and defensibility rather than surface-level reporting.
