Bank FAQ
Generally quick FAQ articles about bank products
10 articles
Articles in Bank FAQ
How do I Mark a Return as an Advance or Pre-Ack Advance?
To mark a return as a bank product advance or pre-ack advance, you must first be approved by the bank product bank.
Updating/Making Changes to Your Bank Enrollment Application
After completing your bank enrollment application in Account Hub, if the application is not locked, changes can be made.
Where do I do the compliance test the bank requires?
If you have any questions about compliance testing, reach out to the bank directly at the contact info they have sent you.
Top 10 Bank Product Funding FAQs
These are the top 10 bank product funding frequently asked questions.
Tax Related Bank Products - Can they be used in prior year returns?
Tax-related bank products can only be offered to your clients in the current tax year.
If the IRS offsets the taxpayer's refund, will I still get paid?
If the taxpayer utilizes a bank product to facilitate payment of their refund, the bank will deduct its fees and your tax return preparation fees from the refund, then pass the remainder of the refund to the taxpayer.
What is Pre-Ack Season? When is Pre-Ack Season?
Pre-ack season is the time period in which EROs can transmit tax returns BEFORE the official start of e-File when the IRS begins processing returns.
What is a Pre-Ack Loan?
A Pre-Ack loan is a refund advance loan approved during the period before the IRS has issued its first acknowledgement of the tax season.
What is a Document Preparation Fee on a Bank Application?
The Document Preparation Fee is an additional fee the bank allows the ERO to charge for handling and completing bank applications on tax returns prepared in Tax Processors Plus.
Can I Change The Document Prep Fee?
The Document Preparation Fee is an additional fee the bank allows the ERO to charge for handling and completing bank applications on tax returns prepared in Tax Processors Plus.