Six banks offering a taxpayer refund advance are supported by TaxSlayer Pro for the 2016 filing season. An advance on a tax refund is beneficial for both the taxpayer and an ERO, or an electronic return originator who is an authorized IRS e-file provider.
Taxpayers can receive a portion of their refund within 24 hours of their return being accepted by the IRS, according to Shae Stancil, director of TaxSlayer Financial Services.
“They are useful for taxpayers who are in a bind financially and cannot afford to wait or don’t want to wait the 7 to 21 days it typically takes to receive their entire refund from the IRS,” Stancil said. “They are useful for EROs because it helps them remain competitive with national chains, attract new customers and retain old customers. It adds another service that the ERO can provide to their customer base.”
TaxSlayer Pro recommends applying as early as possible for advance products. Most of this can be done by completing the bank application in My Account and then contacting the bank to finalize the application process.
Each bank supported by TaxSlayer Pro offers a refund advance product although each program differs. Not all EROs will qualify for the programs.
In addition to TaxSlayer Financial Services, the following banks are available to TaxSlayer Pro clients:
Santa Barbara Tax Products Group
For more information, visit www.taxslayerpro.com.