Cash flow help for a unique tax season
Today the IRS announced the official first day of filing will be Friday, February 12th. This unprecedented delay to the start of tax season gives the IRS time to do additional programming and testing of IRS systems following the Dec. 27th tax law changes.
Just like you have done in past tax seasons, returns filed now will be transmitted to the IRS once the IRS begins accepting returns.
PATH Act refunds released first week of March
Taxpayers claiming EITC and ACTC (PATH Act returns) who typically wait until after Feb. 15 will now wait until March to receive their tax refund.
At the time we published this article, the filing deadline currently remains April 15th.
Cash flow still available for those that need it
Given the IRS announcement delaying the start of tax filing until Friday, February 12th we recognize this presents unprecedented challenges for many of our tax professional partners. As your partner, we want you to succeed, so we're leveraging our resources to help play a small part in your success.
We worked to extend the deadline for our Pre-Season Funds program, securing capital for additional tax professional partners.1
It's here for tax professionals that need it, and available for a limited time. So tax professionals participating in our Standard Refund Transfer program should opt-in now if access to capital may be needed between now and March.
Help clients bridge the gap at tax time
In these challenging times build lasting relationships with clients by offering financial solutions for taxpayers that bridge the gap between now and March. Whether it's helping clients keep more money in their wallets, get faster access to their money, or get money weeks before their refund arrives, we help you give clients some good news at the start of tax season.
Taxes done with $ up-front
Give clients the option to hang onto cash or avoid adding credit card debt with a pay-by-refund option. Collect your tax preparation fees from the refund and there's nothing for your client to pay out of pocket.2
Fastest access to refund
Whether a taxpayer chooses a Refund Transfer or a Refund Transfer + Fast Cash Advance, they always get their money faster than a check or direct deposit with a Green Dot Prepaid Visa© Card.3
$ in hours, not weeks
Adding Fast Cash Advance to a Refund Transfer gives taxpayers up to $6,000 weeks before their refund is ready.4 Offer the Early Fast Cash Advance (pre-ACK loans) and clients can get money today!
1Advances subject to approval. Must be enrolled in Standard Refund Transfer program to qualify; all discount programs offered through Santa Barbara Tax Products Group are excluded from this program. Advances provided by Green Dot Bank, Member FDIC. Check with transmitter for availability.
2Refund Transfers are deposit products using Civista Bank, Member FDIC, that enable certain deductions from the account to be processed. Refund Transfers are not loans. Tax refund and e-filing are required in order to receive Refund Transfer. Fees apply. Terms and conditions are subject to change without notice. Ask your preparer about other IRS e-file options, some of which are provided at no additional cost.
3Card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GoBank, Green Dot Bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. ©2021 Green Dot Corporation.
4 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 amount of the loan and applicable interest will be deducted from tax refunds and reduce the amount that is paid directly to the taxpayer from the refund. Fees for other optional products or product features may apply, and will be disclosed at the time of application. Tax returns may be filed electronically without applying for this loan. Loans are offered in amounts from $500-$6,000 and are offered both pre–IRS acknowledgment of the tax return and post-IRS acknowledgment of the tax return. All loans have an Annual Percentage Rate (APR) of 39.95%. For example, for a loan of $2,000 with a repayment period of 30 days, the total amount payable in a single payment is $2,065.67 including principal and interest. Loans subject to the Military Lending Act have a lower rate. Not all consumers will qualify for a loan or for the maximum loan amount. Offer and terms subject to change at any time without prior notice.