If you are looking for details on whether you can use a cash app for taxes, then you are in the right place. Cash app comes with several features, and today will loom if there is one that you can use to file for a tax.
Every year it is a must to file federal and state returns. The whole process of filing the taxes is cumbersome.
If you are a cash cause, thus you are wondering if you can use your account for taxes. Well, let’s find out if it is possible.
Can You Use The Cash App For Taxes
Yes, you can use cash for taxes when you want to file the return. Recently the cash app introduced a new feature where you can file taxes for free. The new feature is referred to as cash app tax, and we will look at the details now.
About Cash App Taxes
Cash App is a mobile app that lets you send and receive money in real-time.
While it is essentially a peer-to-peer payment service, the company also offers a bank account with an associated debit card that can be used to spend and manage money in the same way that a regular checking account would.
Cash App is owned by Block Inc, previously Square, a fintech company.
The money transfer giant introduced a new feature where you can file taxes through the app for free. Cash App tax is a relatively new name in tax preparation and filing.
However, the service has been there under the name Credit Karma Tax. The name Credit Karma Tax is a new name for the service.
As a result of Cash App’s acquisition of Credit Karma Tax and the subsequent launch of Cash App tax, you’ll want to understand how it works and whether it’s the best tool to assist you in filing your taxes this year.
How To Use Cash App Taxes
You must first download the app and register a Cash App account with a valid email address or phone number to use Cash App for Tax.
The onboarding procedure will also ask for a debit card to link the account, although this isn’t required to continue.
Cash App Taxes can be accessed from the banking tab of the app: Find the Free Tax Filing link under the Taxes section.
File Now or Estimate Refund buttons and a link for those who have filed with Credit Karma Tax in past years are available on an interstitial screen.