Square Wants to Do Your Taxes
Add tax preparation and filing to the list of financial services Square (NYSE: SQ) could offer through Cash App. The fintech company has agreed to acquire Credit Karma's tax preparation division for $50 million, contingent on Intuit's acquisition of the rest of Credit Karma's business. The tax prep business would fall under Square's Cash App.
Adding tax preparation services to Cash App could provide yet another on-ramp for new users, as well as a platform for Square to build a more robust tax service in the future.
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Source Fool.com
