Did you mail your return in or efile? Premier investment & rental property taxes. . Don't send clients to a competitor. Watch this video to find out if it's a tax refund advancement, Turbotax or some differe. TurboTax has partnered with SBTPG, commonly known as TPG for collecting tax refunds early. why is there an extra $39.99 charged outside of whats already been listed? It means tax professionals do not need to chase their clients for professional service charges. Thank you for the response. I looked on SBTPG website and it indicated that it was probably due incorrect information or unusual activity on my SSI number. None of the answers regarding this helped me.whether it was on google in general or on here. You may have received an email from our partner Santa Barbara Tax Products Group (SBTPG) regarding a hold on your federal refund. Copyright 2023 Market Realist. If this happened, Turbo Tax uses a third party processing service to process your refund. It is more commonly known as TPG. TurboTax does not receive any updates from the IRS. If you do not remember getting the stimulus payments you can go back through your back records to double check. Again, the IRS will catch this and make the changes to your return. This service allows tax professionals to collect their client fees from tax refunds. 5 Fast Cash Advance is an optional tax-refund related loan provided by First Century Bank, N.A., member FDIC (it is not the actual tax refund) and is available at participating locations. The direct deposit came from "tax products pe1 sbtpg llc." After doing a bit of looking around, I tracked it back to Santa Barbara Tax Products Group. The American Rescue Plan was signed into law on March 11th, and includes a third round of Economic Impact Payments (EIPs) which will be delivered directly to taxpayers. Examples include the direct deposits for any government benefits, tax refunds or earnings you receive and for certain tax payments you might make. Ppd tax product pr1 sbtpg llc. in Mand BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. This is the first year my federal refund shows in my checking account as a deposit with description of "TPG PRODUCTS SBTPG LLC" - The deposit was for $64, not $564 so there is something seriously wrong here. Missing thousands of dollars.. was only Direct Deposited $450 vs $4,000+ 7 5 103,481 Reply. SBTPG offers a comprehensive marketing plan to their professional tax partners at no additional cost. The first stimulus payments are expected to reach taxpayers' bank accounts starting March 17, and the IRS expects to deliver most stimulus payments within the next 3 weeks. It looks like the forum privacy filter redacted your email address above for your privacy/security. 2022 Guide to Get Form W2 from Kohls (Current and Former Employees), Refund Transfer Santa Barbara Tax Products Group (sbtpg.com), Deferred Tax Liability: Definition, Example, And Calculation, Deferred Tax Assets Definition, Example, and Why the Deferred Tax Asset Arises, What is Deferred Tax? I am an Enrolled Agent. Just now getting a letter. Waiting is frustratingrefunds are taking longer in many cases. Should I be patient or go straight to defcon 5?? They just gave you an estimated date. Here's one, Hey did they ever deposit the rest of your money? Ask Your Question Fast! You did not report the full amount of your Advanced Payments for the Child Tax Credit that you already received. The refund is sent to them, the fees are deducted, and then the remainder is sent to your bank. This could include things such as missing income or inaccurately reported income (ex. They deduct the money that you owe for TurboTax plus a fee to pay with refund. Because I have nothing better to do than work my FT job, take care of my house, 2 kids, 2 dogs and cat. What did you mean by the term "total refund" above? 2 AutoCollect is an optional service provided by Santa Barbara Tax Products Group, LLC. I checked with my IRS ID.ME account and shows a overpayment of $564. I worked for the I.R.S. Have you talked to a SBTPG customer support agent by phone? For additional information, please see this Help Articleor this TurboTax blog post. If so, only the Federal refund goes through SBTPG. Turbo Tax executives have failed in setting up this arrangement. I worked for the I.R.S. 3 Online payments provided by AffiniPay, LLC, which is not an affiliate of Santa Barbara Tax Products Group. It has been a failure on their part. However, this morning I see a deposit of 700 with the description I set as the title. Tax products pr1 sbtpg llc ach. If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing. Online tax preparers and tax professional services need seasonal expenses. 2010-2023 Santa Barbara Tax Products Group, all rights reserved. The state worked fine but this amount did not. I would hope that those responsible for setting up thesethese financial arrangements are made aware of the additional work and the poor customer service we have experienced. Part of the fees deducted will be the service fee for paying out of the Federal refund. Fees apply to the ERO only with respect to successful collections. Ok. I am also missing a few thousand I only got $79 i think this is a joke right? The funds normally arrive in your bank account the next business day (weekends, Federal Holidays excluded). Terms and conditions are subject to change without notice. I have life lock and I have a clean SSI according to them. 7 Incentive paid as long as IRS tax refund is deposited to the GO2bank Visa Debit Card. You can also log into your temporary account at SBTPG (Santa Barbara Tax Products Group) which initially received the Federal refund and took out the fees. TPG Product SBTPG LLC is a company that was founded in 1991. I received an unusual sum from "TAX PRODUCTS PE4 SBTPG LLC 20190220" I've never had this happen before. However, the tax professional may charge you additional fees for tax preparation or other services. Taxpayers are advised to visit the IRS Economic Impact Payments page or IRS Fact Sheet for more information. Have a question for Santa Barbara Tax Products Group (TPG)? The IRS Get My Paymenttool is scheduled to be updated on March 15. I got much less than expected and will not be using you guys again if this is the case. The Recovery Rebate is ONLY for those who did not get the. Just federal and state plus sales tax? * Automated reminders save you time and help you avoid no-shows. **Say "Thanks" by clicking the thumb icon in a post. Terms and conditions are subject to change without notice. Taxpayers can choose to file and receive their tax refunds through TPG in different ways. What Is Sales Tax And How To Calculate It? Here's the fun part, the amount deposited into my account was $409. I again used Turbo Tax to do my 2019 taxes. You should have received a letter if this was the case. i am in the same boat here i was suppose to get 943 and got 521 over 400 dollars less than my tax return stated on turbo tax. Neither has the IRS. Whether you owe taxes or youre expecting a refund, you can find out your tax returns status by: Using the IRS Wheres My Refund tool. Learn more about where checks can be cashed. I WILL NEVER USE TURBO TAX AGAIN. Collect fees all year long for professional services you offer. It is not possible for TurboTax to speed up the IRS for you. TPG Product SBTG LLC is a company that was founded in 1991. In California, the fee is $45 (where it is bundled as Premium Services).. The extra fee is for that optional "pay out of refund" option. Did you choose to pay any TurboTax product fees out of your Federal refund? CPACharge is a registered agent of Wells Fargo Bank, N.A., Concord, CA and Citizens Bank, N.A. Gov site. About Santa Barbara TPG. If so, it comes separately in another deposit straight from the state tax agency. 17. Again, if you do not remember getting these payments you can go back through your bank records from July-December. Still dealing with the large backlog of returns from last year, in addition to added complexities due to changes in the child tax credit and COVID-19 pandemic-related stimulus checks, the IRS still may not provide full tax refunds as quickly as most people would prefer. Tax products pe2 . Clients that choose GO2bank are notified when their refund is ready, you can earn a $39.95 incentive7, and you receive additional free marketing resources for your office.8, Have balance due clients that require tax debt resolution and IRS representation services that you don't offer? That fee is $40 (or $45 for California filers.). Give your client the option to pay for tax prep with their refund, and there's nothing to pay up front. Whether accepting credit or debit payments online or in your office, offer payment options that work for your clients. in Mand BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. the tax preparer stated that i would get my refund within 7-10 days. Many tax filers are scratching their heads after receiving a deposit labeled TPG Products. The IRS encourages people to file tax returns electronically and select direct deposit options. 12 Available to returning clients with 100+ applied Refund Transfers. All Rights Reserved. Go back and review your return. Viewing your IRS account information. If not, you need to provide some info. Currently, check cashing at Walmart is not available in NJ and NY. Every year it would show as IRS REFUND. I received Ilan unusual sum from tax product SBTPG LLC is it the same sum from IRS ? It also shows their business hours. The page that show you the turbotax charges does not show the actual amount that is taken from your federal and state. I spent my last 11 years at the I.R.S. Themost common reasons so far this season are: You should look for a letter from the IRS and if you do not have one or do not receive one, you would need to call the IRS at 800-829-1040 as no one else would have the answer as to why your refund was reduced. Free marketing resources and premium displays, Big changes to our tax refund advance loan, TPG now offering tax debt resolution services. That payment method also has an additional $40 service fee ($45 for California filers) and possible sales tax. The total refund was about 1600.00 . Your website includes a secure client portal for exchanging documents with clients. If needed, you may also call SBTPG at 877-908-7228. How are fees paid? That was where the issue lies. I've been using for last 10+ years. Let us discuss what is SBTPG and its tax products for taxpayers and tax professionals. 2 GO2bank cards are issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association.