$750 Easy Advance - Setting Customer’s Expectations

Post date: Jan 03, 2016 2:5:32 AM

Customers coming into your office are able to apply for a $750 advance. When the return is completed with the Advance selection it can be transmitted to the National office starting on January 4. Explain to them that an Advance Loan does not require an IRS acceptance for a decision to be made by the lender and based on approval can be funded typically within 24 hours within hours of transmitting. Note: After the IRS starts accepting returns then IRS acceptance is required.

When Does the Customer Sign?

Customers do not have to wait until the 19th to sign the documents/financial product applications. They can eSign the returns and financial product applications at the time of tax preparation. Having the client sign the forms at the time of tax preparation gives them a sense of finality and helps prevent them from jumping to one of our competitors.

How to Handle State Delays (State is not e-File ready, or State is not Available)

We recommend you file the federal return once it is completed and then file the state return once it is e-File ready/available. After the federal return with a financial product has been accepted the financial product application is locked. If a state is added subsequently it can be added to the existing product without re-signing, but no additional tax prep fees can be withheld.

· If you are holding returns because you want the state fees included in the financial product application, add the appropriate state charge manually to the federal return using the “Other Charges” fee on the invoice, mark the return “Complete” and submit to NO. When the state is available, you can then file the state return for free (fees were included with the federal financial product). Note: CIF funding is adjusted based on the number of transmitted CIF returns.

· If you are holding returns because your client wants a state financial product, have your client eSign the documents/financial product application at the time of tax preparation and let them know that they will need to return to the office to sign the state e-File documents once the state is available for e-File. Add the appropriate state charge manually to the federal return using the “Other Charges” fee on the invoice, mark the return “Complete” and submit to NO. When the state is available, you can then file the state return for free.

Please Note: There are two basic rules:

· If a state is added before the federal financial product return is ACK’ed and one of the following data elements changes, then a re-signing is needed.

o Name

o SSN

o Expected Refund Amount

o Tax Preparation Fee

o Estimated Total Fees

o Disbursement Method

o Direct Deposit Information (RTN or DAN)

o NetSpend Card Number (If used)

· Once the federal return is ACK’ed, the application is locked. A state financial product can be added without requiring re-signing financial application, but no additional fees can be withheld.