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Thursday, May 26, 2022

Tax Refund: Receive refund in Cryptocurrency

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Taxpayers everywhere have started filing their taxes, but there are various options on how to receive refunds. People can choose cryptocurrency now.

Coinbase and TurboTax will be partnering up to let taxpayers convert their refunds into over 100 different cryptocurrencies.

Included in these options are Bitcoin and Ethereum.

This means if you utilize Coinbase, your money may be deposited directly into your Coinbase account and converted into crypto.

IRS: Cryptocurrency counts as property when filing taxes

How you can have your tax refund sent as cryptocurrency

If you want your refund sent to you in the form of cryptocurrency, you need to file your taxes with TurboTax.

You must do this in the Coinbase section.

Around three weeks are needed to disburse your payment this way.

You’ll be notified by TurboTax to provide your cryptocurrency account information once your taxes are processed.

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