Tax professionals may issue checks from their office once IRS or state funding is received. https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online. What is tax products pe2 sbtpg llc? Learn more about where checks can be cashed.3, Cashier's checks issued by TPG may be cashed at over 11,000 locations nationwide, + Checks up to $7,500 cashed for a cost up to $84, + Available at participating Walmart stores thru December 31, + Available at any Wells Fargo bank location thru December 31. Your Federal refund amount is on your Federal Form 1040, Line 21a. The ACH I received was almost $200 less than the refund Turbotax described. https://help.sbtpg.com/hc/en-us/articles/230084587-Contact-Information. Fees? what was this deposit for? SBTPG has a phone contact page at the following link. Yes. SBTPG (aka Tax Products Group) is an intermediary company that handles this. Are PE1 and PE2 Different types of Tax Products? Been with Intuit for going on 6 years now. If you have a fee issue, here's how to reach TurboTax Customer Support by phone. However, this morning I see a deposit of 700 with the description I set as the title. The file names were concerning. How do I clear and start over in TurboTax Onli Premier investment & rental property taxes, offset - you owed money and the IRS took yours or. If you chose to get cash through Wells Fargo bank or Walmart, it will cost you an additional $10 and $8 per check respectively. The organization touts itself as a customer-friendly service provider with reasonable rates. I am an Enrolled Agent. The amount deposited from PE2 SBTPG LLC is much less than my federal return should be. Its on the home screen. It is more commonly known as TPG. Starting January 2 each year, they can offer up to $ 6,000 of fast cash to their clients. it sounds like you had your Turbo Tax fees paid by your refund. We'll help you get started or pick up where you left off. Community Experts online right now. Will I still get that? Check the IRS site to see how much the refund they issued to you was. We'll help you get started or pick up where you left off. Once on the website click for taxpayers, logging to TPG, then you add your SSN, federal refund amount expected from WMR, and filing status. What is this from? The company identifies itself as a consumer-friendly service provider with fair pricing. 1 Check with the IRS To view your refund status Go to IRS website 2 Check with TPG To view your refund transfer details Login to TPG Need help? People may receive compensation for some links to products and services on this website. They are the 3rd party bank your refund has to go thoughso they can take the fees of of your refund. See the TurboTax FAQ link below for more information about why your deposit may be less than expected. What do TAX PRODUCTS PE4 SBTPG LLC means? Tax professionals can charge their service charges separately as well. Copyright 2023 Market Realist. It is offensive or harmful. Many tax filers are scratching their heads after receiving a deposit labeled TPG Products. The IRS encourages people to file tax returns electronically and select direct deposit options. Do not use the word refund., https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number. The user noted, I received a deposit from TPG Products. IRS shows my return processed to bank. What is tax products pe2? You can check what the fees were at this link: https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online. I got much less than expected and will not be using you guys again if this is the case. Print, save or preview this year's return. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. What message are you seeing? The same thing just happened to me. It contains or requests illegal information. In addition to the product fees and possible sales tax, there is a $40 service fee for that payment option ($45 for California filers). Any state refund (if applicable) comes separately in a direct deposit directly from the state tax agency. What do TAX PRODUCTS PE4 SBTPG LLC means? Step by Step Guidance with Example, What is the Price Discrimination? This is apparently a common issue among tax-filers this season. If their clients have past dues, TPG would collect them from the clients on their behalf. Go back and review your return. It also shows their business hours. Cost is $4 or less for checks up to $1,000 and $8 or less for checks up to $7,500. what was this deposit for? It's always the exact amount on my return. Santa Barbara Tax Products Group-they are the company that processes the refund whenever you choose to have your TurboTax fees deducted from your federal. But in some circumstances it's possible that SBTPG receives an economic stimulus payment. OUTRAGEOUS. Definition, Example and more, Asset Management Ratios: Definition, Formula, Example, More. They have been serving the consumers with tax-related financial products and services. A member of our support staff will respond as soon as possible. This option also has an additional charge from the bank that processes the transaction. Ask for FREE. I did allow my turbo tax fees to be taken out of the fed return but, it was only suppose to be $40 or so. TPG is located in San Diego, California. Ironically, a stimulus payment could equal a round figure of $3,900 if there are 2 spouses and 3 dependents. See my next comment below on some things to check. What exactly is a tax product deposit PT? No, PE1 and PE2 are two bank transfer codes that will show up on your bank statement sometimes. Did the IRS WMR tool give you an expected deposit date, even if the bars at the top didn't yet say "sent?" Did you get a deposit with that description? The direct deposit came from "tax products pe1 sbtpg llc." After doing a bit of looking around, I tracked it back to Santa Barbara Tax Products Group. 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. Taxpayers can directly choose the services of TPG without availing of their tax filing services as well. 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. Then SBTPGs bank sends the rest of the Federal refund to your bank account. We'll help you get started or pick up where you left off. for 33 years. How Long Does It Take for SBTPG to Release Funds in 2022? the tax preparer stated that i would get my refund within 7-10 days. I dont owe any child support , no judgments, dont owe the IRS back taxes. Ask Your Question Fast! I am an Enrolled Agent. A Green Dot Company NMLS ID# 914924 | Technology Privacy Statement, Tax preparation fees are paid from the refund so there's nothing to pay up-front. Sbtpg llc Pe sbtpg llc Tax produbct pe1 R23 sbtpg . That intermediary company receives the refund from the IRS, subtracts the fees, then sends the rest to your bank account (or card.). The refund is sent to them, the fees are deducted, and then the remainder is sent to your bank. I received this notification in my bank account, and I matched the amount I was expected to get on my federal return located in Turbo Tax and they paid me short by $1,000+. 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. It would help them secure a debit card with excellent features. That should have given me a refund of $1807. in Mand Enrolled Agent since 2008, Intuit Tax Expert since 2011. This is unacceptable & inaccurate. I remember seeing the tax product thing towards the end of me . Where did you see that? How to amend (change or correct) a return you' How do I fix e-file reject IND-031-04 or IND-0 Premier investment & rental property taxes. Tax Products Pe1 Phone Number QATAX from qatax.blogspot.com. 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. PE1 and PE2 are two tax refund codes for taxpayers when they receive a tax refund from the IRS through SBTPG. In February 2022, similar issues were posted on Intuit.com. What do TAX PRODUCTS PE4 SBTPG LLC means? Here's one, Hey did they ever deposit the rest of your money? What To Do When You Lost Your W2 Form? 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. The tax return will include TPG's info so the IRS and/or the state will know where to send the tax refund. But I know I did not read anywhere on Turbo Tax that they can take 60% of my tax return. It means tax professionals do not need to chase their clients for professional service charges. I believe the TurboTax service fee was $140, but I have a Positive deposit of $144.72. I wasnt supposed to be charged fees! Are you including the extra 39.99 Refund Processing Service charge (44.99 in California)? Ask for FREE. That's handled by an intermediary company called SBTPG (aka Tax Products Group.) The TurboTax site displays a "total refund" amount at the Tax Home which confuses some users. How to Market Your Business with Webinars. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. I am waiting for my Federal tax return but I saw this today. Did you use Turbo Tax online? Why is that? https://turbotax.intuit.com/tax-tools/efile-status-lookup/">https://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? Or are you missing your state refund? They took out $109.00 from my account, and no refund yet?? Deposit tax products pe2 type. After going through the process of preparing your annual tax return, you naturally want to receive your full tax refund and get it promptly. Forthe offset, you can call the IRS at800-304-3107, seeTopic No. But it can't hurt to see what that tool is showing at SBPTG. I do not owe any money to the government. I just received a deposit of frickin $19. The refund is sent to them, the fees are deducted, and then the remainder is sent to your bank. Ironically, that would also equal a round number of $3900. TPG serves consumers nationwide with tax-related financial products and services that provide value, are fairly priced and satisfy consumer need. I worked for the I.R.S. Currently, check cashing at Walmart is not available in NJ and NY. This service from TPG offers pre-season funding. Qualified tax professionals can get an advance up to $40,000 through an online application with TPG easily. for 33 years. A respondent said that TurboTax knew about the issue and would issue a refund if the charges for tax preparation were higher than intended. I've checked with the IRS "Where's my Refund" site and show no adjustments. When they receive a tax refund in their bank accounts, their bank statement shows tax product, PE1, or PE2. I spent my last 11 years at the I.R.S. Then click onPrint, save or preview this year's return. Very soon you might get a direct deposit from TPG Products SBTPG LLC! First Century Bank, N.A. Tax Product PR2 SBTPG LLC I'm a bit confused right now. Ask for FREE. It will show you how much they received from the IRS, the fees they charged, etc. If you used the CD/download product to file your return, the only place you can find the 2018 tax return would be on your computer. I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. They charged me $ 59.95 for a "software upgrade" in order to send my return electronically. Funds are disbursed immediately upon IRS or state funding, reaching your bank account in 1-2 business days. I spent my last 11 years at the I.R.S. 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. If this happened, Turbo Tax uses a third party processing service to process your refund. I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. Who is this Santa Barbara Tax Group and why is this happening this time? So if the difference you are seeing is not explained by the product fees (and service charge) or a state refund (which comes separately), then the IRS may have reduced your refund. If so, they should send you a letter in about 3 weeks or so explaining why. Market Realist is a registered trademark. What doTAX PRODUCTS PE4 SBTPG LLCmeans? in Mand MBA, Enrolled Agent. Tax products pe2 sbtpg llc deposit. If you need to speak to SBTPG, they have a phone contact page at the following link. However, TurboTax hasn't posted an official response. It is a business-to-business service provider. https://ttlc.intuit.com/questions/1900596-what-is-refund-processing-service">https://ttlc.intuit.com How to amend (change or correct) a return you' How do I fix e-file reject IND-031-04 or IND-0 Premier investment & rental property taxes. Tax production direct deposit load Ask Your Question Fast! The system said due to COVID-19 , your fees are waived and will not charge any. You can check to see if the PE2 payment is a Federal refund by going to the SBTPG website and using their lookup tool. How do I update Form W-9 with TaxSlayer Pro? My original refund was for $397 and that was confirmed. what was this deposit for? I received an unusual sum from "TAX PRODUCTS PE4 SBTPG LLC 20190220" I've never had this happen before. I am an Enrolled Agent. These are not specific tax products offered by SBTPG. What Online TurboTax product did you use--Free Edition with PLUS, Deluxe, Premier, Self-Employed? That bank is only involved if you used a paid version of the software and then chose to have your fees deducted from your federal refund. SBTPG has several tax services and each one comes with different costs. TPG Products refers to Santa Barbara Tax Products Group. Yes but I only receive $1806.00 , what happens to the rest of the refund. in Mand Enrolled Agent since 2008, Intuit Tax Expert since 2011. Tax products pe5 for sbtpg llc. A deposit from Tax Products PE1 is most often a Federal refund for those people who chose the option to pay their TurboTax fees out of their Federal refund. that can look at your screen to determine the origin of that charge. Then SBTPG's bank sends the rest of the Federal refund to your bank account. Missing thousands of dollars.. was only Direct Deposited $450 vs $4,000+ 7 5 103,110 Reply. 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. If that's your situation, then the deposit is confusing. Offers may be subject to change without notice. The IRS forwarded your federal refund to Santa Barbara Tax Products Group, a third-party processor, so they could deduct the TurboTax account fees and service charge. Your TurboTax account will remain at Accepted. I got a deposit of $1,088 from PE2 as well, and my fed return was supposed to be $1,866. What is tax products pr1 SBTPG LLC deposit? If you used the TurboTax online product and used another account, you would have to open that account to find your 2018 tax return. Tax professionals can deduct their fees from the refund directly as well. for 33 years. You do not need to use them. That was a lie!! Been part of TTLive, Full Service TTL, was part of Accuracy guaran Enrolled Agent since 2008, Intuit Tax Expert since 2011. 0 Reply 406lafayette New Member June 7, 2019 4:04 PM Fees? Any and all help is greatly appreciated. I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. TurboTax does not have copies of returns filed using the CD/download product. So the next time you see tax products pe1 in your report, you most likely had your tax return filed by an outside firm like Jackson Hewitt or thru software like Turbo Tax/TaxAct. A deposit from Tax Products PE1 is most often a Federal refund for those people who chose the option to pay their TurboTax fees out of their Federal refund. What is going on? I can't find the EFIN Validation Codes for my other offices. You'll decide how you want to receive your refund amount too. I worked for the I.R.S. Been part of TTLive, Full Service TTL, was part of Accuracy guaran Enrolled Agent since 2008, Intuit Tax Expert since 2011. Jul 14, 2022 Instead, their money was deposited in Santa Barbara Tax Product Group also known as TPG, which is the bank that processes refunds when you Let us discuss what is SBTPG and its tax products for taxpayers and tax professionals. It comes with a fee of $30 for every $1,000 after November 30 and $45 for every $1,000 before this date. BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. Here are a few frequently asked questions (FAQs) about SBTPG. Been preparing taxes professionally for 10+ years. Discover short videos related to tax products pe2 sbtpg llc deposit on TikTok. do ir. Community Experts online right now. This is a debit/credit card processing service to make payment processing from clients easy. It says directly that the total price (taxes included) is $173.98. You had $40 to Santa Barbara bank plus the TurboTax fees would not add up to over $1,000. Pay for tax preparation with your tax refund TPG takes all associated fees out of your tax refund, making it easy to pay for tax preparation. Tax Products PE4 SBTPG is the bank that processes your refund that it receives from the IRS to deduct your fees and then send it on to your bank. If that's the Federal refund after fee subtraction, the figures you provided imply your TurboTax fees and associated charges are 4124 - 3900 = 224. Santa Barbara Tax Products Group-they are the company that processes the refund whenever you choose to have your TurboTax fees deducted from your federal. Still dealing with the large backlog of returns from last year, in addition to added complexities due to changes in the child tax credit and COVID-19 pandemic-related stimulus checks, the IRS still may not provide full tax refunds as quickly as most people would prefer. And if you save a PDF of the return with all the worksheets you will see this in the Bank Processing information. The refund is sent to them, the fees are deducted, and then the remainder is sent to your bank. Find a tax pro in your area and see the tax-related products they offer. I am an Enrolled Agent. The amount of money in question does not make sense. Where is MY MONEY(?) Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. Please return to the forum to see the full comment. Also that still doesnt explain why its offset by THOUSANDS and no I dont have any offsets. I know most do but its because they dont know how to file for free. Or your return was submitted and the IRS garnished your refund. I can't see what the link is. . The IRS will send you a letter of explanation when your refund is less than you expected you can also get this information by looking up your refund at the IRS Wheres My Refund page.. June 4, 2019 3:05 PM What is tax products pe2? A search shows this is associated with Intuit. Source: Unsplash, Santa Barbara TPG LinkedIn. A file name of "tax return" PDF suggested that they could contain sensitive info, that you should not post in this public Internet forum. It is possible for SBTPG to receive and pass along a stimulus payment as a "refund" in some instances. Iwont use them again!!! What Is Sales Tax And How To Calculate It? 203 Reduced Refund. I worked for the I.R.S. My refund was for $1957.00 minus fee for turbo tax of $60 + $50 and $40 for having the cost taken out of my refund. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. If needed, you may also call SBTPG at 877-908-7228.. Doesn't seem to have worked as I am now having to ask where is the rest @Ramrod360 Short $1,000+ sounds like an offset or an adjustment. Then SBTPG's bank sends the rest of the Federal refund to your bank account. in Mand Been with Intuit for going on 6 years now. 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. Santa Barbara Tax Products Group is used to process your refund when you elect to have your tax preparation fees deducted from your refund. I worked for the I.R.S. If i filed my tax return on 1/31/13 direct deposit how long will it take to get refund? I spent my last 11 years at the I.R.S. If you need to, you can phone SBTPG to inquire about the deposit and ask them if it was a Federal refund or a stimulus payment. 0 Reply jeffcox132 Is that all it said for a description? What is it that makes you think that the deposit from Tax Products Group is not a Federal refund? What are Tax Products PE1 and PE2 SBTPG LLC Deposits? This means one of two things happened. I spent my last 11 years at the I.R.S. TaxSlayer states that if you filed using their software, once the IRS releases your refund to TPG, the program preparation fees are deducted. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. If you did, your TurboTax fee plus the additional processing fee is deducted from your federal tax refund. Here is their website link, that has their contact information. Why is the amount that turbo tax said it was going to send, not the same amount that has been deposited into my account? Santa BarbaraTax ProductsGroup-they are the company that processes the refund whenever you choose to have your TurboTax fees deducted from your federal. There is also an additional $40 service fee for that payment method ($45 for California filers.). It stands for Santa Barbara Tax Products Group or formally known as TPG. Advance tax refunds start from January 2 every year if you have applied for them. There is an EXTRA 39.99 for that Refund Processing Service. It incurs interest costs at an APR of 35.99% currently. If not, then IRS is just too slow in updating the refund status page for you. Ask Your Question Fast! Use the Taxpayer portal at: https://www.sbtpg.com/ If I had asked Turbotax to cut a check would there have been such a fee? Scroll down and click onAdd a State. We use cookies to ensure that we give you the best experience on our website. My cash app say Pe4 but my turbo tax hasn't updated. Thus, TPG links taxpayers and tax professionals and offers both services through the same platform. Who do I contact regarding the Remainder of My Refund? Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. I don't know. (Example, And Explain). February 8, 2020 11:46 AM. what was this deposit for? They just gave you an estimated date. for 33 years. Tax professionals may issue checks from their office once IRS or state funding is received. What does it say about your Federal refund? TaxSlayer states that if you filed using their software, once the IRS releases your refund to TPG, the program preparation fees are deducted. This is the descriptor for the intermediary company (Santa Barbara Tax Products Group, aka SBTPG) that processes a refund when you choose to pay fees out of the Federal refund. for 33 years. my teenage daughter hates me but loves her dad.

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