No one does bank products better than TaxWise.
We work with all the leading tax lenders so that you will have
the widest variety of bank product options.
Taking advantage of these bank product options will not only benefit
you through substantial fee-based revenues, but they will benefit
your clients as well. Bank products enable you to get your clients
their money quickly and securely. And bank products limit your clients'
out-of-pocket expenses by having their tax preparation fees automatically
deducted from the proceeds. (That also makes it easier for you to
collect your fees.)
Offering bank products as a service to your clients will keep them
coming back year after year.
With TaxWise you have the availability of all leading bank product providers:
And you have access to the widest variety of bank product options:
- Refund Anticipation Loan (RAL)
For individuals who have an immediate need for their tax refund,
the RAL may be the product of choice. The bank will lend funds
on the anticipation of the taxpayer's refund being deposited
from the IRS to cover the loan. Typically, these loans are granted
within 1-3 days. Once the loan is approved you can print the
RAL check. Your fees are then deposited into your account within
a few days of printing the check.
- Electronic Refund Check (ERC)
The ERC is the answer for taxpayers who do not want a refund anticipation loan and who need or want a paper check. After the IRS deposits the refund (10-14 days after the return is accepted), the bank deposits your fees in your account and you print a check for the balance for the taxpayer. You get your fees and there’s no risk of loan losses.
- Direct Deposit Refund Anticipation Loan (DDRAL)
Perfect for taxpayers who have an immediate need for their tax
loan proceeds and have a bank account. The bank will lend funds
on the anticipation of the taxpayer's refund being deposited
from the IRS to cover the loan. Typically, these loans are granted
in 1-2 days. Once the loan is approved, your prep fees are deposited
into your bank account and the balance of the loan proceeds
are deposited into the taxpayer's bank account.
- Direct Deposit Refund (DDR)
Like the ERC, this product is not a loan. When the IRS deposits the refund (10-14 days after the return is accepted), the bank deposits your fees into your account and the balance into the taxpayer’s personal account. There are no checks to print.
TaxWise provides you with a complimentary marketing kit to promote bank products. Click here to find out more.
CCH SFS is not a lender, broker or originator of bank products.
Bank products are offered by participating banks.
Participating preparers must be qualified and approved by the bank.
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