Tax service provider Refundo has just made an announcement about allowing its customer to receive state or federal tax refunds in XRP, Ethereum (ETH), or Bitcoin Cash (BCH), the company's press release states.
Before the above-mentioned cryptocurrencies were added to the service, Bitcoin had been the only option for 141 million American taxpayers who wanted to dabble in crypto. Refundo introduced its CoinRT product that allows receiving taxes in BTC back in May 2019 after forming a partnership with leading crypto-oriented payment processor BitPay.
The modus operandi of CoinRT is very simple. One has to create a unique account and prepare his or her tax returns to later e-file them with the IRS. After receiving tax refunds from the agency, CoinRT will convert them into your preferred crypto and send it directly to your designated wallet.
This level of convenience comes at a price — Refundo customers are required to pay a flat fee of $34.95.
Roger Chinchilla, CEO at Refundo, says that this allows their customers to access refunds "in a seamless manner."
“We love new technology and we’re always looking for opportunities to help our customers get access to their tax refund in a seamless manner and however they see fit,” she said in a statement.
In the future, Refundo plans to introduce support for additional cryptocurrencies.