Bitcoin payment services provider, Bitpay, has partnered with US based tax refund payment processing platform Refundo, to allow taxpayers to receive tax reimbursements in bitcoin.
Using Refundo’s CoinRT product, taxpayers first set up an account with Refundo, undergo KYC, then prepare their tax return and determine if they prefer a full or partial refund in bitcoin. After entering the appropriate information on the tax return obtained from Refundo, the return is filed. Once processed by the IRS, Refundo is notified and directs Bitpay to process the USD refund into bitcoin which is then sent to the predetermined bitcoin wallet address.
The service costs $34.95 and purports to serve the underbanked, save clients fees and allow them to invest their refund into bitcoin.