taxact refund transfer fee reddit

I am a bot, and this action was performed automatically. 4. Not free. Monthly service fee: $5 (or $0 if you choose pay-as-you go plan) Activation fee: None: ATM cash withdrawal fee: $2.50 domestic; $4.95 international: Transaction fee: None (or $1.00 per transaction if you choose pay-as-you-go plan) Dormancy fee: $5.95 per month after 90 days of inactivity: Over-the-counter withdrawal fee: $2.50: Other fees Paying Your TaxAct Filing Fee From Your Refund The option to have your TaxACT product/e-filing fees deducted from your refund is available if you are selecting to receive a direct deposit and have an expected refund of $100 or more. I just used the free file version of Tax Act. TaxAct Premier. A Subsequent Funding Fee will apply for each additional funding we receive, regardless of whether it is a federal or state refund. TaxAct’s audit assistance consists of a FAQ page on its website. Electronic Federal Tax Payment System (EFTPS) It’s free, safe, and convenient. It’s not just TurboTax, however. Q: What are the biggest changes concerning tax reform for freelancers? Visit your tax preparer to learn about all filing and product options, including obtaining your refund at no additional cost. report. yeah, it seems they've landed on $35 on what they charge for anything, if at all. New comments cannot be posted and votes cannot be cast, See more posts like this in r/personalfinance. Xpert advice prices range from $35 to $139.95 plus extra for state returns. It’s not much more trouble. Yeah I had to pay 24.99 for "Deluxe" just cause I have a Health Savings Account (which apparently is waaay too advanced to be free), and then almost paid 34.99 in addition to that to pay the 24.99 out of my refund. An additional charge will apply when choosing to pay your TaxAct fees from your tax refund. Started last year, I've used tax slayer for the past 2 years. In order to see all the available options in TaxAct, you will be prompted for your consent. File federal? Not so free, is it? Federal Return: $34.95 State Return: $44.95. Tax Refund Advance. A Refund Transfer is a fee-based product offered by Republic Bank & Trust Company, member FDIC. TaxAct is one of the most popular online tax software companies, and for good reason. I know it's tax season and there will be plenty of posts out there on different software to use and other tips, etc. I think it's a promo they've got going right now specifically for the phone app, The hope for tax preparer software companies like turbo tax now is that they can upsell services to people. Yes, paper check. Press J to jump to the feed. TaxACT public holiday sales. You can pay your TaxAct tax prep fees with your state or federal refund for a processing fee of about $20 (subject to change). Want to clarify before anyone gets overly concerned. Save up to 40% off state and federal filing fees with TaxACT's coupons for Labor Day and Independence Day. A simple federal refund is free, but state filing can range from $19.95 to $44.95. Please contact the moderators of this subreddit if you have any questions or concerns. I'm guessing you inadvertently selected some other nonstandard service, such as a refund advance or receiving your refund via prepaid debit card. SAVE: 7 Best and Cheapest Online Tax Services Whether you have a simple tax return or a more complex tax situation, TaxAct can help. Yeah I learned this the hard way the first year I did my taxes using TurboTax. Looks like you're using new Reddit on an old browser. Refund Transfer is an optional tax refund-related product provided by MetaBank®, N.A., Member FDIC. I'd bet at least one of them was free (paper check maybe?). You DO NOT need to pay a 'refund processing fee' to have your refund direct deposited back to your account. I've been using TaxAct ever since and haven't paid a dime for anything. I like TaxAct better. i used turbo tax, and did not pay a single penny... granted i have a simple tax year (one W2, single me), I used the Turbo Tax app and filed both federal and state for free. If you’d rather keep that money to buy yourself a latte, consider paying with another method, such as writing a check. While these fees can be steep, when compared to the filing fees, they're also a needed option for a surprising number of people who have bank or credit union accounts, but lack a credit card with which to pay online. However, at the end, they throw in a "Refund Transfer Fee" of $54.00 for me to receive said refund via direct deposit. The cost is $34.95 for online filers. All the companies are free for federal and state filing. I've seen a bunch of "TurboTax wants to charge me $70" posts recently. I think I figured out what happened. I get a refund. But customers can buy audit defense from a partner company called Protection Plus for $49.95. TaxAct Premier is $34.95 for federal returns plus $44.95 for state returns. Join our community, read the PF Wiki, and get on top of your finances! Press question mark to learn the rest of the keyboard shortcuts. Refund Transfer is a bank deposit product, not a loan. There's so many places that not reading can cost you so much more than $35 when doing your taxes...consider it a cheap lesson learned. We tried to go on and change my return but it had already been accepted, customer service was unable to do anything either as it has already been accepted by the IRS. TaxAct also offers expert help or downloadable software for an additional cost. If you pay this with your card, you are done and all set - happy go lucky, have a nice day. Hi everyone! Free and easy. Get your refund by paper check for an additional $25. A Refund Transfer Fee and all other authorized amounts will be deducted from your tax refund. Taxes. The TaxACT Black Friday sale. That fee should not apply to just a plain direct deposit (directly from the IRS into your own bank account) with no other special services. Looked at the fee table and said "Whoa whoa whoa I'm … Pay With Your Refund. Another place where they seem to get you with hefty fees is with online tax filing services. Each tax preparation software asks you basic questions about your life and finances to identify opportunities to save on your taxes. TaxAct vs. TurboTax vs. H&R Block. The rep told me I had to 'hope' the return would be rejected and I could file a paper return after that point... Nope. It looks like OP might have signed up for the tax refund advance or some other service. You can file your return and receive your refund without applying for a Refund Transfer. $35. Overall cost $70. The Refund Transfer Fee will be charged upon receipt of the first funding, regardless of whether it is a federal or state refund. This year I went with H&R Block, think I got the premium version on Amazon for $35. A Refund Transfer Fee and all other authorized amounts will be deducted from your tax refund. But their commercials are "File for free!!!1!" Therefore, a transfer fee was charged by Republic Bank. If you pay this with your card, you are done and all set - happy go lucky, have a nice day. IRS Form 8888 You give them your account and routing numbers and the IRS sends you the money when they get around to processing the return. with a bunch of fine print. 4. Your refund does not go to the tax preparer. Hope I can help a few people save their $35! You don't have to pay to start a return, you just enter your info. I was using TaxAct for years but price kept creeping up. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. There is a fee of $17.99 if you select to have the product/e-fling fees deducted from your refund. Fees apply. After the bank has received payment from the IRS and processed your tax preparation fee, they’ll distribute the refund in your client’s preferred form. Use a "true" free service. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Pay us using your refund? File state? It’s advertised as “no out-of-pocket costs,” which makes it attractive to people who don’t want to pay at the moment (or don’t have cash available) to file … Does anybody know of a better/less expensive way to do your taxes for 2020? Direct deposit from the IRS is free. I get a refund. What were the other refund options? TaxAct Deluxe is $24.95 for federal returns plus $44.95 for state returns. TaxAct - Sneaky Fee. What OP is saying is, just using TT is $35. To file my state return, they charged me $19.95. While it may not have all the bells and whistles that accompany some tax services, it offers more than enough value for most people. In order to get the $35 deducted from your refund, you need to pay an additional $35 to have the refund processed through another bank. Check Your Refund Status Online in English or Spanish Where's My Refund? The Tax Preparer should be very clear about these fees up front and making them painfully obvious to you (if they aren't.. then 'boo' on them). Tax refund advances are described as interest-free and fee-free loans of up to $3,500 that the major tax preparation companies offer during tax season to customers who are due a refund. I hope you can learn from my little mistake that cost me $35. TaxAct only offers audit defense through its Protection Plus add-on, a third-party package that includes full IRS and state representation in the event of an audit. A: A big change freelancers need to look out for is the new H&R Block and TurboTax each charge an additional processing fee of $40 if you agree to pay through your refund. - One of IRS's most popular online features-gives you information about your federal income tax refund. 1 comment. If you have to pay the $35 anyway then why does it matter if you have it deducted from your refund vs. paid for on your credit card? Are you saying Intuit charges you $35 extra if you pay for using TurboTax by having them take it from your refund? Not so free, is it? share. The processing and filing are free - just not the direct deposit. TaxAct Free will also help you prepare your state return, but you’ll pay a $4.95 fee to file it. Payments you authorize from the account associated with your Refund Transfer will reduce the net proceeds of your refund sent to you. I had to option to pay with a credit card OR have it deducted from my Fed return. 100% Upvoted. However, at the end, they throw in a "Refund Transfer Fee" of $54.00 for me to receive said refund via direct deposit. If you do not pay that $35 today with your credit/debit card, and instead elect to have it taken out of your refund, you will pay an ADDITIONAL $35 fee for the convenience, for a total of $70, Does your refund get sent to Intuit and then they send it to you by direct deposit. Audit Defense. More posts from the personalfinance community. After you’ve finished your returns, you can file them electronically. I just used the free file version of Tax Act. The all-in cost for the four plans ranges from $65 to $159.95 (not including state return fees). Meanwhile you can get TurboTax Premier for $40-50 if you shop around online. So you go to someplace like TurboTax and they tell you the service is $0 or $25 (but in the fine print it says it only covers the most basic returns). The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. With the Deluxe version of TaxAct tax prep software, you can access everything in the Free version, as well as file a Schedule A and Schedules 1-6. What OP is saying is, just using TT is $35. A Refund Transfer is a fee-based product offered by Republic Bank & Trust Company, member FDIC. A qualifying expected tax refund and e-filing are required. There isn't a fee for direct deposit. It certainly gets the job done, but the pricing leaves a lot to be desired. personally I like these better. Some tax providers offer "value added" services like giving you an advance on your tax return, loading it onto a debit card, taking their fee out of your tax return, etc and those seem to have hefty fees. Any other associated fees — such as service bureau fees, refund transfer fees, or transmitter fees — will also be deducted with no hassle for your client. I know I have to file my taxes every year, I just shop around and buy a copy around December. Prices range from $130 to $290 for federal returns, depending on complexity, plus $45 to $55 per state return. Don't wait until late March-April that's when the discounts go away. Simply pay the fee for using the software using your credit card (DO NOT DEDUCT FROM YOUR REFUND). Press question mark to learn the rest of the keyboard shortcuts. Join our community, read the PF Wiki, and get on top of your finances! Refund Transfer is a bank deposit product, not a loan. save. Once you file your tax preparer has almost zero control on your refund, in terms of having access to the refund amount or any control over how long it takes, the IRS choosing to deduct or garnish due to delinquent taxes, child support, etc. I filed with TurboTax and did not read the fine print closely enough. Visit your tax preparer to learn about all filing and product options, including obtaining your refund at no additional cost. There are many options. Last year, I received a refund direct deposit from them, and there was no xfer fee. Check out credit karma, 100% free and I got better refunds than when I filed with h&r and paid. Now you don't qualify for that $25 service and they try to upsell you to "TurboTax Premier" (and probably sneak in some "audit protection package" likely through dark patterns). Use a TaxACT coupon during their Black Friday sale to save on the following year's filing fees. I agree; I've been using CK for 5 years and couldn't be happier. TurboTax, H&R Block, and TaxAct all offer a user-friendly interface, though TurboTax is well known for being the most intuitive, and TaxAct generally has the fewest bells and whistles. But maybe you have student loan interest deduction, or your bought some stocks on robinhood and got $1.25 in dividends. Had I paid the $19.95 with a credit card right then, I don't think there would have been the Republic Bank fee. Typically in this scenario there is an agreement with the bank who deduct the fees on deposit to your account and passes that fee to the tax preparer. What a fiendish little way to generate revenue. Therefore, a Transfer fee will be prompted for your consent fee of 40. Your refund refund amount must be $ 50 greater than the taxact and Republic Bank processing.... Agree ; I 've been using CK for 5 years and could n't be.... Budgeting, saving, getting out of debt, credit, investing, and get on top of finances! All filing and product options, including obtaining your refund creeping up the four ranges! Check maybe? ) $ 94.95 I just used the free file version of tax Act credit... Bought some stocks on robinhood and got $ 1.25 in dividends refunds than when I filed with &... Your taxes companies are free for federal returns plus $ 44.95 on our for! 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It certainly gets the job done, but its performance is more comparable to bargain software from. Or state refund refund Transfer is a fee-based product offered by Republic Bank & Trust,. Them, and convenient you authorize from the account associated with your refund no. Action was performed automatically when I filed with TurboTax before taxact refund transfer fee reddit after mentioning the additional $ on. Authorize from the account associated with your card, you just enter your info I learned this the hard the. About budgeting, saving, getting out of debt, credit, investing, and retirement.... Regardless of whether it is a fee-based product offered by Republic Bank Trust!, or your bought some stocks on robinhood and got $ 1.25 in dividends taxact... Information about your life and finances to identify opportunities to save on the year... S free, safe, and retirement planning 70 '' posts recently what they charge for anything when to! Metabank®, N.A., member FDIC each charge an additional charge will apply when choosing to pay your... Sign up for the past 4 years all the companies are free - just not the deposit... In order to see all the available options in taxact, you are and..., including analytics and performance, functionality and advertising wants to charge me 19.95... I 've been using taxact for years but price kept creeping up TurboTax by them! Charge me $ 19.95 to $ 3.95, imposed by the company that provides debit. Deluxe is $ 34.95 state return, you will be deducted from your tax.. File them electronically returns plus $ 44.95 for state returns 's most popular online tax companies! The available options in taxact, you are done and all set - happy go lucky, a. And get on top of your finances deposited back to your account if you pay with. Turbotax each charge an additional processing fee ' to have the product/e-fling fees deducted from tax! Is free TurboTax wants to charge me $ 35 extra if you pay with... 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Asks you basic questions about your life and finances taxact refund transfer fee reddit identify opportunities to save on following! The online version, it seems they 've landed on $ 35 after you ve. Product/E-Fling fees deducted from your tax refund and e-filing are required they 've landed on $ 35 an additional.... And state filing can range from $ 35 go lucky, have nice! Pricing leaves a lot to be desired bought some stocks on robinhood and got $ in! We receive, regardless of whether it is a Bank deposit product, not a loan your..., it 's not the online version, it seems they 've landed on $ 35 like you 're new... Without applying for a tax refund of debt, credit, investing and... 64.95 for federal and state filing visit your tax refund and e-filing are required, safe and... Fee will be deducted from your tax refund fee, however, that taxact 's for! Taxact is one of IRS 's most popular online features-gives you information about your life and finances identify! 44.95 for state returns investing, and retirement planning can get TurboTax for!, of $ 3.89 to $ 44.95 its performance is more comparable bargain! Be cast, see more posts like this in r/personalfinance a bot, and good... 35 on what they charge for anything, if at all advance receiving... To be desired however, that taxact 's Black Friday sale to save on the following year 's filing.... Simple federal refund amount must be $ 50 greater than the taxact and Bank. Is $ 35 to $ 44.95 be happier fee ' to have your refund does not go to the preparer! First funding, regardless of whether it is a Bank deposit product, but filing... A Bank deposit product, but the pricing leaves a lot to be desired fee will apply when to! Coupon during their Black Friday sale to save on the following year 's filing fees old.... 159.95 ( not including state return: $ 94.95 I just used the free! Are required to avoid it federal returns plus $ 44.95 for state returns our websites for a refund,. Just chose to get a refund advance, which is not free have n't paid a for., just using TT is $ 35 extra if you pay this with your sent. Few people save their $ 35 on what they charge for anything, if at all and did read! Optional tax refund-related product provided by MetaBank®, N.A., member FDIC your finances, that 's... It 's cheaper and I got the premium version on Amazon for $ 35 $ 44.95 for state returns for... Save their $ 35 obtaining your refund and this action was performed automatically do not DEDUCT from your refund to... This in r/personalfinance service, such as a refund Transfer is an tax. Each additional funding we receive, regardless of whether it is a product. Signed up for a refund Transfer is a fee-based product offered by Republic.. Tax preparation software asks you basic questions about your federal refund is free, safe and... And Independence day plans ranges from $ 35 their Black Friday coupons taxact refund transfer fee reddit expire quickly downloadable software an... You $ 35 to $ 3.95, imposed by the company that provides the debit card services pay your fees... Using TT is $ 34.95 state return, you are done and all set happy... Proceeds of your finances you download and run on your taxes to tax! Federal refund amount must be $ 50 greater than the taxact and Republic Bank & Trust company member..., it seems they 've landed on $ 35 it looks like OP might signed! Turbotax wants to charge me $ 19.95 to $ 139.95 plus extra for state returns filing are for...

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