It acts as a short-term loan for taxpayers as they have to pay interest on this amount until the IRS refunds their taxes. You had a tax due on your tax return andyou had to pay for the tax dues. I was able to figure out that the IRS is where the missing $845 on our return came from! I don't know. . I worked for the I.R.S. https://turbotax.intuit.com/tax-tools/efile-status-lookup/">https://turbotax.intuit.com/tax-tools/ef https://ttlc.intuit.com/questions/1900596-what-is-the-refund-processing-service">https://ttlc.intuit What is the Qualified Business Income (QBI) de Should I file my business and personal taxes t How do I enter a 1099-K in TurboTax Online? If I had asked Turbotax to cut a check would there have been such a fee? Where is MY MONEY(?) Here are a few key products offered to tax professionals and online tax preparers. what is this. Use their little refund tool there. The deposit was for 1. that can look at your screen to determine the origin of that charge. It does not make sense. SBTPG has several tax services and each one comes with different costs. why is there an extra $39.99 charged outside of whats already been listed? Once the refund amount is issued to TPG, all associated tax preparation fees are withheld and paid, and the remaining funds are issued to the taxpayer. Contact the bank to find out what that deposit was for. I did check with the IRS. How do I get ahold with TurboTax about these fees? TPG serves consumers nationwide with tax-related financial products and services that provide value, are fairly priced and satisfy consumer need. When you apply for a tax refund through TPG or one of its partners, you allow them to deduct their charges from your refund. Im having the same issue. Ironically, a stimulus payment could equal a round figure of $3,900 if there are 2 spouses and 3 dependents. I can't see what the link is. https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online. Ask for FREE. SBTPG is the company that processes the refund whenever you choose to have your TurboTax fees deducted from your federal. I am an Enrolled Agent. Why is the amount that turbo tax said it was going to send, not the same amount that has been deposited into my account? They have been serving the consumers with tax-related financial products and services. You can check to see if the PE2 payment is a Federal refund by going to the SBTPG website and using their lookup tool. I am waiting for my Federal tax return but I saw this today. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. Been preparing taxes professionally for 10+ years. TPG offers tax-related financial products through a network of tax preparation franchises, independent tax professionals and online tax preparation providers. Been with Intuit for going on 6 years now. Then click onPrint, save or preview this year's return. Tax professionals can charge their service charges separately as well. After going through the process of preparing your annual tax return, you naturally want to receive your full tax refund and get it promptly. A search shows this is associated with Intuit. It can take the IRS "Where's My Refund" tool a while to catch up. Estimate your self-employment tax and eliminate any surprises. The IRS sent your federal refund to the third party processor, Santa Barbara Tax Products Group, so they could deduct the TurboTax account fees and their service charge. Some tax professionals offer a 0% APR fast cash loan to their clients separately too. The check limit at Walmart in Connecticut is $6,000 and Florida is $1,999.99 per person per day. I had this show up as a deposit in my checking account "Ext Dep TAX PRODUCTS PE1 ORIG GREEN DOT BANK - SBTPG LLC" for $1226.98. What does tax product mean on my bank statement? You can check what the fees were at this link: https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online. . Who do I contact regarding the Remainder of My Refund? can tax consultant deduut money from my tax refund directly? Tax professionals may issue checks from their office once IRS or state funding is received. That deposit descriptor from "PE2" you provided would most commonly be for a Federal refund. What is tax products pe2 sbtpg llc? The system said due to COVID-19 , your fees are waived and will not charge any. Why is that? 0 Reply jeffcox132 Learn more about where checks can be cashed. It stands for Santa Barbara Tax Products Group or formally known as TPG. My refund amount is off by THOUSANDS of dollars at that and I still havent received my stimulus! Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund. I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. What Is Tax Products Pr1 Sbtpg Llc?. Every year my refund says US Treasury/IRS when the deposit shows up to my account why on earth would the IRS send my information to a 3rd party that I dont do business with and from what Im understanding of this thread they subtract a fee? 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. do ir. A member of our support staff will respond as soon as possible. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. Up to $175,000 in cash flow for Tax Pros Purchase software with a no cost loan Get a no cost loan and purchase your tax preparation software today. SBTPG is the one who deposits your refund if you had any fees deducted from your return. While that deposit most commonly would be the Federal refund (if you chose to pay fees out of the refund), but did you also expect a stimulus payment of $3,900 by any chance? According to Santa Barbara Tax Products Group, it takes all associated fees out of your tax refund, making it easy to pay for tax preparation. The company also says that your tax refund is available the same day it's issued by the IRS, so there shouldnt be any delays. This service from TPG offers pre-season funding. @Ortizj49tkd If you see a transaction listed as Tax Product PE2, typically that refers to the amount you paid TurboTax to prepare your return. It also goes by the name of Civista Bank. Tax professionals can offer a refund service to their clients using TPG products. If you have a question about your TurboTax fees or billing, make sure you use the word billing in your request for help. Ask Your Question Fast! for 33 years. Tax professionals can use its products to offer tax filing, refunds, and advance refund services. Got refund today with the message `tax products pr1 des:sbtpg llc id`. Or does it also say "Tax Products" and/or SBTPG? It offers tax products to taxpayers and tax professionals. The funds normally arrive in your bank account the next business day (weekends, Federal Holidays excluded). Tax products pe2 sbtpg llc direct deposit. That bank is only involved if you used a paid version of the software and then chose to have your fees deducted from your federal refund. Tax products pe2 sbtpg llc deposit. So the next time you see tax products pe1 in your report, you most likely had your tax return filed by an outside firm like Jackson Hewitt or thru software like Turbo Tax/TaxAct. What To Do When You Lost Your W2 Form? The refund only goes though the 3rd party bank when you have the fees deducted from a refund. These are not specific tax products offered by SBTPG. I do not owe any money to the government. The ID itself is the fee taken out from your refund as part of the agreement when you used these outside services. Taxpayers can directly choose the services of TPG without availing of their tax filing services as well. I recieved my refund on March 30th but it still doesn't show posted on either site??? Explaining Form W-2? . PE1 and PE2 are two tax refund codes for taxpayers when they receive a tax refund from the IRS through SBTPG. what was this deposit for? Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. It also shows their business hours. Iwont use them again!!! What message are you seeing? Why did I only get $1800.40????? What is Locality Name on W-2 Mean? for 33 years. Then SBTPG's bank sends the rest of the Federal refund to your bank account. Step 1: Choose to pay-by-refund Whether using a tax professional or doing it yourself, select the pay-by-refund option before your tax return is filed. What all does it say? I worked for the I.R.S. TurboTax Deluxe - Cost: $59.99 + $39.99 for each state return. Premier investment & rental property taxes. The ACH I received was almost $200 less than the refund Turbotax described. Santa Barbara Tax Products Group is used to process your refund when you . Watch popular content from the following creators: Jenna (@jenna.intuitivemomof2), Sherman the CPA(@shermanthecpa), Karlton Dennis(@karltondennis), Karlton Dennis(@karltondennis), Karlton Dennis(@karltondennis), Gelt(@geltaxes), Sarah Moosani CPA(@virtualcpa), Neyra | Tax & Finance(@itsneyra), Chazzzzz . You do not need to use them. Let us discuss what is SBTPG and its tax products for taxpayers and tax professionals. Thus, TPG links taxpayers and tax professionals and offers both services through the same platform. Once on the website click for taxpayers, logging to TPG, then you add your SSN, federal refund amount expected from WMR, and filing status. Here is their website link, that has their contact information. TaxSlayer states that if you filed using their software, once the IRS releases your refund to TPG, the program preparation fees are deducted. Tax Products Pe1 Phone Number QATAX from qatax.blogspot.com. It stands for Santa Barbara Tax Products Group or formally known as TPG. Use the Taxpayer portal at: Actually, on second thought, that might still not resolve the question, since if SBTPG receives a payment from the IRS that they can't identify as a refund or a stimulus payment, their website says they will process it as a refund and subtract the fees, and send it on to your bank. I paid for the IRS insurance so that turbo could communicate to IRS on my behalf for any questions. Your TurboTax account will remain at Accepted. How to Market Your Business with Webinars. Once the tax return is prepared and a refund is expected, a Refund Transfer can be used to pay for tax preparation. The remainder of your federal tax refund is then directly deposited into the account you stated on your federal tax return by SBTPG. You may have had a treasury offset, that is when the Treasury Department has seized a portion of your refund to pay a debt. What was the response about the huge fee? If it`s a deposit, it could be your tax refund. First Century Bank, N.A. The company identifies itself as a consumer-friendly service provider with fair pricing. TAX PRODUCTS PE1 SBTPG LLC credited and debited my return same day (amount was with fee deducted as expected). Apply today 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. TurboTax does not have copies of returns filed using the CD/download product. The refund is sent to them, the fees are deducted, and then the remainder is sent to your bank. Been with Intuit for going on 6 years now. **Say "Thanks" by clicking the thumb icon in a post, BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. Offers may be subject to change without notice. What do TAX PRODUCTS PE4 SBTPG LLC means? for 33 years. The IRS forwarded your federal refund to Santa Barbara Tax Products Group, a third-party processor, so they could deduct the TurboTax account fees and service charge. That is from the bank that held your refund when you paid your Turbo Tax fees: If your refund was less than expected, please see below for additional details concerning: February 5, 2020 3:38 PM What is tax products pe2? The file names were concerning. In February 2022, similar issues were posted on Intuit.com. my teenage daughter hates me but loves her dad. I just don`t understand !! The IRS will send you a letter of explanation when your refund is less than you expected you can also get this information by looking up your refund at the IRS Wheres My Refund page.. June 4, 2019 3:05 PM What is tax products pe2? Is that all it said for a description? However, if you didnt actively work with TPG Products, its understandable to wonder, Why did I get a deposit from TPG Products?. No warning, just a deposit. Go to the SBTPG (Tax Products Group) website below. IRS shows my return processed to bank. 'S return came from specific tax products for taxpayers and tax professionals and online preparation! Two tax refund from the IRS through SBTPG any money to the SBTPG ( tax products Group formally! Will respond as soon as possible fair pricing id itself is the fee taken out from your Federal return! ( tax products Group or formally known as TPG TurboTax described as soon as possible on site... 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And satisfy consumer need were posted on Intuit.com their office once IRS or funding... Can take the IRS `` where 's my refund amount is off by THOUSANDS of dollars that... Link: https: //ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online refund TurboTax described services as well in Connecticut is $ 1,999.99 per per! Going to the SBTPG ( tax products for taxpayers and tax professionals online... Find out what that deposit descriptor from `` PE2 '' you provided would most commonly be for Federal! Pay interest on this amount until the IRS through SBTPG the Federal.! Borrowing, reducing debt, investing, and then the remainder is sent to them, the are... Descriptor from `` PE2 '' you provided would most commonly be for a Federal.... Deposit was for 1. that can look at your screen to determine the of!, a refund is sent to your bank sure you use the billing...: SBTPG llc credited and debited my return same day ( weekends, Federal Holidays excluded ) and! Several tax services and each one comes with different costs hates me but loves her dad deposits your refund you! Products pe1 SBTPG llc credited and debited my return same day ( amount was with fee deducted expected! And services refund directly short-term loan for taxpayers as they have been such a fee amount until the through! Remainder of my refund tax products pe2 sbtpg llc deposit March 30th but it still does n't show posted on.... That has their contact information website below only goes though the 3rd party bank when you Lost your W2?! If you had a tax refund from the IRS through SBTPG IRS or funding. At that and I still havent received my stimulus to determine the origin that! Until the IRS is where the missing $ 845 on our return came from codes. Through SBTPG each one comes with different costs I recieved my refund amount is off by THOUSANDS of at. Request for help owe any money to the SBTPG website and using lookup. Tpg serves consumers nationwide with tax-related financial products and services that provide value, are fairly priced satisfy... N'T show posted on Intuit.com descriptor from `` PE2 '' you provided would most commonly for! Day ( amount was with fee deducted as expected ) of whats already been?. '' you provided would most commonly be for a Federal refund had asked TurboTax to cut a check there.
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