But TaxSlayer offers premium software at a bargain price for many others. Applying for the Refund Advance will not affect your credit score. Pricing varies by location. And for the merchant, a return may represent a loss of more than just the sale read on to find out more about the hidden costs of returned merchandise. The Emerald Card allows a one-time, no-fee transfer of funds from your card account by check or automated clearinghouse transfer. There's usually no service charge to pay via credit card; you'll be able to earn rewards points or cash back, depending on the card you have; and you'll get your tax refund in full. ), processing a credit card refund could take days, weeks, or even a month! How much you pay will depend on your employment situation, life circumstances, and customer support preferences. Even a 100-percent refund may not do that if the cost of the product is small . Filing your taxes can be a bit like your first trip to the gym you don't want to spend the money, you aren't sure how everything works, and you keep putting it off. The prices listed in this article do not include any discounts. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. To cover those fees, a temporary bank account is set up by a bank that's partnering with a tax preparation firm. If you want to pay your filing fee out of your federal refund, TaxSlayer partnered with a third-party bank to offer this option. Which of the following is correct? Places like Amazon allow merchants to sell on their site, but its under the umbrella of their shipping and returns policies and guidelines. A respondent said that TurboTax knew about the issue and would issue a refund if the charges for tax preparation were higher than intended. Want all your POS hardware and software in one place? Receive 20% off next years tax preparation if we fail to provide any of the 4 benefits included in our No Surprise Guarantee (Upfront Transparent Pricing, Transparent Process, Free Audit Assistance, and Free Midyear Tax Check-In). In both of the cases, lets assume the merchant accepts the return. If you use the software and deduct the cost of filing from your refund, you'll be charged a $39.99 Refund Processing Fee, on top of whatever TurboTax is charging to file your taxes. No upfront fees . All tax situations are different. Tax prep companies frequently offer discounts on products early in the season. It sounds easier than pulling out your debit or credit card, but there's usually an additional fee. This is usually true for those who have their tax preparation fees deducted from their total refund. Let's get started. See the Cardholder Agreement at www.republictaxpayer.com/terms for details. A qualifying expected tax refund and e-filing are required. These tools are easy-to-use and give you a better understanding of your tax situation. Note that while TaxSlayer refers to its Tax Software Customer Support team as tax pros, they arent necessarily Certified Public Accountants , Enrolled Agents , or tax attorneys. This situation is ripe for potential irritation, but there are some things you can do as a merchant to appease your customers while still keeping your bottom line in mind. Refund Advance is a loan provided by First Century Bank, N.A., Member FDIC, not affiliated with MVB Bank, Inc., Member FDIC. 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. (Edit: Basically, they set up a bank account for you in the background, then use that account for the direct deposit target. Copyright document.write( new Date().getFullYear() ); Santa Barbara Tax Products Group, all rights reserved. A merchant may be on the hook for a credit card refund fee, or they may still have to pay fees from the original credit card transaction. Emerald Advance, When you use an ATM, in addition to the fee charged by the bank, you may be charged an additional fee by the ATM operator.