Bitpay collaborates with Refundo for Bitcoin Tax Refunds

BitPay is bringing crypto and taxation together by collaborating with Refundo to expedite federal and state tax refunds in Bitcoin. Refundo released a new product called CoinRT which will allow United States’ taxpayers to get all or a portion of tax refunds in digital currencies. Rolf Haag, head of business solutions at BitPay, said: 

“Refundo’s integration joins existing BitPay Payouts used in global marketplace, affiliate programs, and payroll, highlighting the high-speed and low cost of Payouts in Bitcoin. Whether they’re going around the corner or around the globe.”

Customers, while opening an account, will have to provide a Bitcoin wallet address and pass a know-your-customer (KYC) process. BitPay will process tax refunds received from the Internal Revenue Services (IRS) or state tax authorities.

Roger Chinchilla, CEO of Refundo, said: 

“Refundo offers several options to help taxpayers receive their tax refunds safer, faster and more conveniently. Adding Bitcoin was a natural fit for our customers who often do not have traditional checking accounts, pay high check cashing fees and regularly send money internationally. CoinRT enables them to get Bitcoin quickly and easily for one flat fee.”