BITPAY WILL ALLOW US CITIZENS TO RECEIVE TAX DEDUCTION IN BITCOINS

Cryptocurrency payment service BitPay has announced a partnership with the financial company Refundo in order to provide US citizens with the opportunity to receive a tax deduction in bitcoins.

In this case, the user can choose whether the payment will be made in bitcoins in whole or in part. The use of cryptocurrency will allow you to receive money quickly, with low fees and without the participation of banks.

To use the service, the user must create an account and provide the address of the cryptocurrency wallet, after which he will receive a special number that will need to be specified in the tax return. Also, the user must pass the verification of identity. After that, all tax deductions received from the tax service will be sent to the user’s cryptocurrency wallet.

Recall that in March, the audit firm Ernst & Young presented a tool for calculating and preparing a tax return on cryptocurrency savings, and earlier, in February, the TurboTax tax service began working with cryptocurrencies. In addition, the US state of Ohio was the first to allow businesses to pay taxes using cryptocurrencies.

The post BITPAY WILL ALLOW US CITIZENS TO RECEIVE TAX DEDUCTION IN BITCOINS appeared first on Bitcoin News.

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