It will show you how much they received from the IRS, the fees they charged, etc. I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. Our mission is to provide taxpayers with best-in-class products and to help tax professionals grow their business while at all times holding ourselves accountable to the highest standards. What is tax products pe2 sbtpg llc? Taxpayers looking for a safe and easy alternative to a paper check can receive their refund on a GO2bank Visa Debit Card.2. We'll help you get started or pick up where you left off. This means one of two things happened. They provide tax-related financial products and services to their tax preparation and tax software clients. Where is MY MONEY(?) Therefore, when youll receive the refund, it will be less than what the IRS pays to you. 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. I got an Direct Deposit to my account from Tax Products Pe3 in the amount of $135. Your Federal refund amount is on your Federal Form 1040, Line 21a. TPG is located in San Diego, California. That's the fee TT charges to wihhold the fee from your refund. Im saying is that it should included with the total im seeing on the home screen, so when i go back and check, every thing adds up when i start doing the math, BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. You can check to see if the PE2 payment is a Federal refund by going to the SBTPG website and using their lookup tool. 203 Reduced Refund. What are Tax Products PE1 and PE2 SBTPG LLC Deposits? **Say "Thanks" by clicking the thumb icon in a post, BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. Are PE1 and PE2 Different types of Tax Products? We'll help you get started or pick up where you left off. TaxSlayer states that if you filed using their software, once the IRS releases your refund to TPG, the program preparation fees are deducted. Do they process federal and state returns separately? I removed your attached files. The organization touts itself as a customer-friendly service provider with reasonable rates. Estimate your tax refund and where you stand, **Say "Thanks" by clicking the thumb icon in a post, BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. It is possible for SBTPG to receive and pass along a stimulus payment as a "refund" in some instances. However, this morning I see a deposit of 700 with the description I set as the title. what was this deposit for? Ask Your Question Fast! The dates for receiving a federal tax refund are only estimates on the TurboTax website. If you have any concerns about discrepancies over the amount of your refund, please contact the IRS directly: How do I contact the Internal Revenue Service (IRS)? I worked for the I.R.S. I got a $500sum tax return last year(2019)this year its supposed to be almost $1000 BUT I got a deposit from that same weird name "tax products PE2etc" that was $800 something..Now I am aware it came from Santa Barbara Tax Prod or whatever which is linked to Turbo Tax for processing but WHY am I getting this money? And now turbo tax is saying i didnt file my 2018 return with them, taking me thru hell to get my Aig from the irs. SBTPG offers a comprehensive marketing plan to their professional tax partners at no additional cost. SBTPG then direct deposits the remainder of the federal tax refund into the account you requested on the federal tax return. GO2bank also operates under the following registered trade names: Green Dot Bank, GoBank and Bonneville Bank. I'm not sure what you are referring to by "system said due to COVID-19, your fees are waived and will not charge any." What are the five 5 general types of violence? People may receive compensation for some links to products and services on this website. Community Experts online right now. After going through the process of preparing your annual tax return, you naturally want to receive your full tax refund and get it promptly. Learn more about where checks can be cashed. But its still saying I should get my federal refund on March 4th. TPG offers tax filing and refund services to taxpayers directly as well. How do I contact Santa Barbara Tax Products Group (SBTPG)? If the IRS has released it and provided a date, then maybe you got it early. What To Do When You Lost Your W2 Form? They charged me $ 59.95 for a "software upgrade" in order to send my return electronically. Santa Barbara Tax Products Group-isthe company that processes the refund whenever you choose to have your software fees deducted from your federal. THIS IS LEGAL ROBBERY. I am an Enrolled Agent. @Gatofelix220 Did you claim the Recovery Rebate Credit on your return? . Where did you see that? Lock in the best software renewal costs without paying out of pocket.10 Learn more Cash flow help available in November Get up to $40,000 in cash flow to help with season startup expenses. However, if you didnt actively work with TPG Products, its understandable to wonder, Why did I get a deposit from TPG Products?. Was it indeed your return? You'll decide how you want to receive your refund amount too. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Once on the website click for taxpayers, logging to TPG, then you add your SSN, federal refund amount expected from WMR, and filing status. I am an Enrolled Agent. Whether using a tax professional or doing it yourself, select the pay-by-refund option before your tax return is filed. Im having the same issue. . For those of you reading this and seeing that OP paid $140 to get a refund. Tax preparation fees are paid from the refund so there's nothing to pay up-front1, Secure, fast payment with convenient refund disbursement options, Tax refund is available the same day the IRS issues the automated payment. I don't know how or what they have listed. Use their little refund tool there. 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. Tax professionals can offer a refund service to their clients using TPG products. Once the refund amount is issued to TPG, all associated tax preparation fees are withheld and paid, and the remaining refund amount is issued to the taxpayer. I am an Enrolled Agent. 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? This did not happen last time. Your situation is not clear. I do not owe any money to the government. See the TurboTax FAQ link below for more information about why your deposit may be less than expected. The tax refund fee through Refund Transfer is $ 39.95 if it is done via direct bank transfer. Support hours are 5AM-5PM Pacific (8AM-8PM Eastern), Mon-Fri, FAQ: What is the TurboTax phone number?https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632, Or use this contact form:https://support.turbotax.intuit.com/contact. NOTE: Or were you expecting a stimulus payment of $3900-- are there 2 spouses and 3 dependents? I was able to figure out that the IRS is where the missing $845 on our return came from! 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. 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? Is this legit? That intermediary company receives the refund from the IRS, subtracts the fees, then sends the rest to your bank account (or card.) I spent my last 11 years at the I.R.S. Very soon you might get a direct deposit from TPG Products SBTPG LLC! Here's one, Hey did they ever deposit the rest of your money? SBTPG offers different types of tax-related services to taxpayers and tax professionals. https://ttlc.intuit.com/questions/new">https://ttlc.intuit.com/questions/newhttps://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? What message are you seeing? Step by Step Guidance with Example, What is the Price Discrimination? It is offensive or harmful. I didnt have any fees because mine were simple, Last year they had a similar issue where this exact thing was happening and those werent receiving their whole deposit. Or does it also say "Tax Products" and/or SBTPG? I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. SBTPG is an abbreviation for Santa Barbara Tax Products Group. 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. Then SBTPGs bank sends the rest of the Federal refund to your bank account. Santa Barbara Tax Products Group, LLC 25K views 9 months ago U.S. Tax Updates If you used TurboTax to prepare and electronically file your federal Form 1040 income tax return, you may have received your tax refund via a third. Copyright 2023 Market Realist. Ask Your Question Fast! Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. If none of these apply to you,you willwant to. The TurboTax site displays a "total refund" amount at the Tax Home which confuses some users. Apparently you requested to have the TurboTax account fees deducted from the federal tax refund. Similarly, your Fast cash loan will incur interest costs as well. adjustment - your return was adjusted by the IRS, for example, claiming stimulus you actually received. Is that all it said for a description? If you received a deposit of your Federal refund from "Tax Products", aka SBTPG, PE2, etc., that implies you had TurboTax fees that you chose to pay out of your Federal refund. SBTPG (aka Tax Products Group) is an intermediary company that handles this. TPG offers tax-related financial products through a network of tax preparation franchises, independent tax professionals and online tax preparation providers. They can receive a refund through a check, direct deposit, or ACH transfer.