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Refund Transfers Simplified

Refund transfers are a necessary option for taxpayers, but unfortunately, don't know how it works, or even worse, don't know it exists. In contrast, many tax professionals know refund transfers exist, but prefer to get paid upfront. I certainly understand why they do, but I cant help but think:

Do they know how it works? 

The reason I ask is because I understand what it's like to encounter change in your business. Understanding a new process can be pretty challenging, so I understand if you prefer not to adjust anything in your business...but at what cost?

We're here to break down the process, so it's not as daunting, and offer insight into how refund transfers can help your tax office grow. 

Step 1

Taxpayer visits your office. 

Step 2

The taxpayer provides you with their W2's and 1099's, along with any other requirements you may need to complete the return.

Step 3

You professionally prepare the return.

Step 4

The tax return is e-filed with the IRS, and the client indicates a request for a refund. The taxpayer opts in for a refund transfer to pay their tax prep fees from their refund.

Step 5 

IRS usually process the refund request within 21 days.

Step 6

Refundo receives the refund and deducts the tax prep fees.

Step 7

Refundo fees  and any other authorized fees are deducted.

Step 8

Refundo sends your tax prep fees to your account via direct deposit.

Step 9

Taxpayer receives the remainder of their refund via check or direct deposit.

Focus on Value and Impact

As you can see, the process is very simple and straightforward. Most importantly, it makes your office more attractive to taxpayers because you're providing an option they absolutely need.

If a customer walks in, but you deny service because they can’t pay up front, knowing very well they don’t need too, did you add value? If your customer pays you up front, but it prevents her from paying a car bill, did you add value?

If you really want to make an impact in your tax business, don’t just focus on completing a return, but instead, ask a couple of questions to determine if refund transfers makes sense for them. 

It can make all the difference...

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