FREQUENTLY ASKED QUESTIONS

A bank product is a service that allows tax professionals the option of having their preparation fees taken out of the client’s refund instead of charging their fees upfront

Money is routed from the IRS to the tax bank of your choice, and then the bank distributes your preparation fees directly to you. Simultaneously, the bank issues the taxpayer’s refund via their preferred disbursement method(check, direct deposit, debit card)

Bank products help facilitate paying for tax preparation services. With bank products, taxpayers that can’t afford to pay upfront can still get their tax return done early and pay from their refund. It also offers taxpayers the option to receive cash advances.

Using bank products ensures you will receive your preparation fees. It also helps boost your business thanks to the various services you can offer. You can focus on growing your client base rather than spending your valuable time collecting payments

Bank products come with several general programs; cash advances, start-up loans, pre-season, and in-season loans. Additional bank-specific programs differ from one bank to another. It is important to have a thorough conversation with your sales person before you sign up or decide to make a choice