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US Taxpayers Can Receive Tax Refunds in Bitcoin

By Robin Wong | May 5, 2019

US citizens now can get their federal or state income tax refunds in Bitcoin thanks to a partnership between BitPay, a blockchain payment providers, and Refundo, a provider of tax-related financial products.

Refundo is using its CoinRT to allow their customers to receive all or part of tax refunds in Bitcoin. Taxpayers will have a routing and account number linked to BitPay’s Payouts when opting into Refundo’s program. They also provide necessary background details for Know-Your-Customer regulations and their Bitcoin wallet addresses. Once the refund paid by Internal Revenue Service (IRS) or state, it will be converted to Bitcoin and sent to taxpayer’s wallets by BitPay.

This program aims to provide a high speed of payments and reduce transaction fees for underbanked customers.

“Refundo offers several options to help taxpayers receive their tax refunds safer, faster and more conveniently,” Roger Chinchilla, CEO at Refundo, said in its press release.

Most recently, BitPay has teamed up with Corporate Traveller to allow UK customer to pay for their business travel bookings by Bitcoin and Bitcoin Cash, reported The Crypto Sight.

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