Pay Your US Taxes with Bitcoin
Using Snapcard
Bitcoin-based shopping cart SnapCard is a online shopping company, which allows consumers to buy things online with Bitcoin.
SnapCard is now expanding its business to offer American citizens a way to pay their taxes to the Internal Revenue Service using Bitcoin.
SnapCard users will pay SnapCard in Bitcoin and SnapCard pays the Internal Revenue Service in dollars. SnapCard uses an unnamed third party payment processor to facilitate the process.
SnapCard charges 1.87% for the service and the payment processor charges ten dollars US.
In the interview, the SnapCard CEO stated that thus far SnapCard had processed more than $300,000 in BTC transactions from an active base of over 2,500 users.
Sources:
I think that taxes are not actually paid with btc, but in the transaction an intermediary is added that capitalizes the volatility of the cryptocurrencies in its favor. This news has a double bottom.
Posted using Partiko Android
Yes, if you pay your Federal taxes with Bitcoin you are actually paying your Bitcoin to an intermediary, who then pays the IRS in fiat. But from your end only Bitcoin left your wallet 😂🤣
Great move for cryptocurrency traders.
Posted using Partiko Android
Great news! More adoption.
Posted using Partiko Android
Everything is good going for cryptocurrency good news.
Posted using Partiko Android
good for Crypto booster.
Posted using Partiko Android
That's cool news for crypto investor .
Posted using Partiko Android
That’s good and bad! But I’m not gonna discuss this for now ;)
Posted using Partiko iOS
LOL 😂
I guess as in all things there is both good and bad.
Congratulations @shortsegments!
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Thank you