Even A Non Filer
Last Friday, the Internal Revenue Service (IRS), the tax collection arm of the US government, announcedthat US residents who have not filed their tax return in 2019 will be eligible for the corona virus stimulus package under certain conditions. Within a few hours of this announcement, Square said that it was integrating a feature in its money transfer Cash App to allow its users to receive their cash package directly into their mobile micro accounts,
Cash App now offers routing and account numbers that you can use to deposit your stimulus payment directly to your Cash App balance,” Square’s official blog post said, “To find them, tap the Banking tab on the bottom left of your Cash App home screen. If you don’t see them, you can get them by activating your free Cash Card.
Square’ CEO, Jack Dorsey also tweeted for Cash App users, saying they could get their stimulus package,
The IRS now allowing eligible citizens/permanent residents who didn’t file a tax return in 2019 to register for stimulus payments @CashApp to the rescue, offering account + routing numbers to users to receive the payments electronically and avoid waiting for a physical check ria(search) @riabhutoria
IRS will be launching a tool that would allow the non tax filers to receive their money directly.
Square Promoting Bitcoin. Square, as a micro payment app, has also integrated a Bitcoin payment system in it. The app has seen a record payment of the cryptocurrency, with more than USD 178 million in purchases in the last quarter of2019.
The application was developed as a micro payment and transaction service for the unbanked. Developed by Jack Dorsey and Jim McKelvey in response to Jim not being able to make a USD 2,000 sale of faucets because he could not afford to have a credit card POS, the company now offers a multitude of tools, services and devices to allow people an economical way to join the financial world at large. Services and devices include a customizable debit card, digital mobile card reader device and a POS converter for the iPad and even a pay roll application.