SAN FRANCISCO— (BUSINESS WIRE)-Square, Inc. (NYSE: SQ) has entered into a definitive agreement with Credit Karma to acquire its Credit Karma Tax tax business on behalf of the cash application, the financial services application that allows individuals to spend, send, store and invest. Square pays $50 million in cash for the karma credit tax, which offers a free do-it-yourself tax notice for consumers. If you are looking for a free tax return option, the IRS Free File agreement with tax service providers has been updated this year to ensure that private companies clearly identify their free and paid options. The acquisition of Credit Karma and the potential loss of your tax revenue may make you feel disappointed to use it for your credit verification requirements. Credit Karma is a privately held Delaware-based company based in San Francisco, California, which offers a personal online and mobile financial platform. Credit Karma`s platform provides individuals with access to free credit notes, credit monitoring and DDIY tax preparation, among others. Credit Karma is home to more than 100 million customers and each month more than 35 million customers are actively engaged on the karma credit platform. The credit karma tax is the tax preparation operation of the DDIY. It is the fifth largest supplier of DDIY tax preparation products for U.S.
federal and regional tax returns. In 2020, about two million people filed federal tax returns with Credit Karma Tax. Credit Karma, which has begun offering consumers free access to their credit notes and reports (the trade-off is that they promote product recommendations for users), has begun offering tax preparation services in 2017. He was a remarkable player on the stage to offer his services for free. Other tax services offer spin under a certain income level usually only a free preparation by participating in the IRS free file program. There are many other options for consumers who want free access to their credit scores.