Cash App Taxes

Cash App Taxes Certain Cash App accounts will receive tax forms for the 2021 tax year. Log in to your Cash App Dashboard on web to download your forms. For any additional tax information, please reach out to a tax professional or visit the IRS Cash App will provide you with a 1099-B form by February 15th of the following year of your Bitcoin Sale. The 1099-B will be available to download from your desktop or laptop computer Cash App will provide you with your Form 1099-B based on the Form W-9 information you provided in the app. It is your responsibility to determine any tax impact of your bitcoin transactions on Cash App. Cash App does not provide tax advice.

Cash App Taxes
Cash App Taxes

Cash App Taxes

Even though there are only two days left until the tax deadline — April 18 — you can still file your 2021 tax return for free. One of the best options is Cash App Taxes, our pick for the best free tax software in 2022. It’s also the only commercial online tax software that provides free state tax returns.

Formerly known as Credit Karma Tax, makes its debut this tax season. It keeps all the functionality and features of the old software with a slightly new design and new branding.

Unlike other “free” commercial tax software offerings, Cash App Taxes doesn’t hide its free version behind tons of marketing, restrict users based on their tax situations or even charge you for your state tax return. Even if you have freelance income, crypto trades, retirement distributions, rental property income or health savings accounts, Cash App Taxes can e-file your tax returns completely free.

Cash App Taxes
Cash App Taxes

Cash App Taxes requires the installation of the Cash App mobile software on a phone or tablet, and it doesn’t include the extensive help and support of industry tax software leaders like TurboTax and H&R Block. It does include solid contextual help as well as technical support from real humans via live chat, but there’s no professional tax or phone support.

Even though it’s free, the interface and functionality of Cash App Taxes is very professional. If you’re looking for a way to file your 2021 tax return for no cost at all, be sure to give Cash App Taxes a good look.

How does Cash App Taxes work?

To use Cash App Taxes, you download the Cash App mobile software and create a Cash App account, using a valid email address or phone number. The onboarding process will also ask for a debit card to connect with the account, but it’s not necessary to proceed.

From Cash App’s mobile app, you can access Cash App Taxes through the banking tab: Under the Taxes section, find the link for Free Tax Filing. An interstitial screen offers File Now or Estimate Refund buttons as well as a link for users who have filed with Credit Karma Tax in previous years.

  • Tax Season 2022: Important Dates and Deadlines for Filing Your IRS Return

After verifying your identity with your Social Security number, the app will ask you to create a password specifically for Cash App Taxes, not Cash App in general.

Cash App Taxes offers a wide selection of IRS forms and schedules, but its interview-style filing process is quite bare-bones. There’s no navigational outline — you’ll need to travel back to the Tax home page to access different parts of your return. Technical support and tax help content are likewise limited. A question mark icon is available for all the form entries, but instructions are brief and often link off to the IRS site for more information. 

The FAQ on the help slide-in panel only links out to the main Cash App Taxes support page at  Live chat for website issues and basic tax questions is included here, but there is no phone support or guarantee of communicating with a tax professional.

How to run Cash App Taxes on a desktop

You can use either a mobile device or your computer to file with Cash App Taxes, but the login process for the browser-based software is unique. Every time you log in to the desktop version, you must snap a QR code with the Cash App mobile app and then enter your Cash App Taxes password on your mobile device. You have to use the mobile app and password every time you log in to the desktop version.

Because Cash App Taxes doesn’t support uploading forms, you could be entering lots of data by hand, which works much better with a keyboard. The desktop login process is a minor annoyance, but it could become increasingly frustrating if you’re working on a long return or logging in often. Cash App Taxes does allow photo capture of W-2 forms, but I was not able to access that feature via desktop web browser (Chrome or Opera) or Android tablet.

While you can use Cash App on both the mobile app or a desktop, switching between the two platforms may cause a few hiccups. Although information like dependents and charitable deductions synced immediately, W-2 information took about an hour to transfer from the mobile app entry to the browser-based version. We also experienced some ugly error screens very occasionally when switching between the mobile app and browser software.

Leave a Reply