pay-by-refund...the pay-by-refund marketing toolkit includes materials for your office and social...
TRANSCRIPT
Pay-by-RefundHow to and helpful information
1
Welcome to Pay-by-RefundSteps to complete Pay-by-Refund
forms, learn how to introduce PBR
to your clients and review PBR’s
benefits for you and your clients.
2
• Introducing PBR to your clients
• Client benefits and fees
• How to fill out the forms
• Refund disbursement options
• Required Pay-by-Refund disclosures
• Tax preparer incentives
• FAQs and Q&A
Introducing Pay-by-Refund to your clientsAre your clients strapped for cash
around tax season?
Whether it’s from holiday shopping,
unexpected expenses or a change in
financial status, with Pay-by-Refund, your
fees are paid out of your clients’
tax refund. This means no upfront,
out-of-pocket expenses for tax
preparation. You and your clients can
start tax preparation early so they get
their refund (and you get paid) as
soon as possible.
But your clients may be hesitant to ask about payment
deferral. The Pay-by-Refund marketing toolkit includes
materials for your office and social media accounts to help
you start the conversation.
- Printable Posters
- Desktop Tents
- Flyers
- Ads for Facebook or Linked-in
- Referral cards
Download the toolkit free: https://proconnect.intuit.com/pay-by-refund3
What your clients need to knowClient Benefits and Fees
No Upfront Cost
• Your clients can start their taxes right away.
All Pay-by-Refund tax payers will be auto enrolled in ID Protection
provided by IDnotify, a part of Experian.
ID protection bundle includes:
• Identity Restoration
• Identity Theft Insurance
• Dedicated Fraud Resolution Contact Center / Specialist
Fees
• Your Professional fees and the $59.90 Pay-by-Refund fee will
be deducted from the tax payers refund
4
ProSeries
Step1
Fill out the Federal Information
Worksheet as usual
Under Part VIII, QuickZoom to your
enrolled bank’s PBR application
worksheet
Using Pay-by-Refund in ProSeries
5
Step2
Check box next to “Refund Transfer”
Note: Client’s refund must exceed total PBR and
tax preparation fees to qualify for PBR benefit
Using Pay-by-Refund in ProSeries
6
Client refund, ID verification and notifications
Step3 Select client disbursement option - Direct deposit
- Check printed in tax preparer’s office
- Prepaid debit card
Identification verification - Required for Federal e-filing (Driver’s
license, Military ID, passport, etc.)
- Information automatically populates
from tax form
Client notification - Select how your client wants to be
notified when their refund is ready
Step4
Step5
7
8
VERY IMPORTANT STEP
Step6A:
IMPORTANT: To ensure your fees are
disbursed properly, verify that your
TOTAL tax preparation fees are visible
on the Pay-by-Refund form
Check box to import billing amounts from
client-specific billing options worksheet
Press F10 key to update any later changes
made to client-specific billing options
If correct billing amounts aren’t showing, refer
to Steps 6B and 6C
Tax preparation fees
Step6B:
Make sure the Client-Specific Billing
Options worksheet is complete and
accurate
9
Tax preparation fees
VERY IMPORTANT STEP
Step6C:
PBR in ProSeries defaults to automated
billing OR for manual billing, under
Tools, choose:
- Rates per form (OR)
- Global billing
Tax preparation fees
VERY IMPORTANT STEP
10
Finishing upStep7Review for accuracy
Step8Review disclosures with client
- Share Payments Summary and Federal
Refund Options with your client to
confirm they understand the PBR fees
- Republic Bank has oral disclosure
confirmation
- Provide the one pager information sheet on
ID protection. Can be found on our website
https://proconnect.intuit.com/pay-by-refund/
Note: Disclosures automatically print with return 11
The finish lineStep9Print two copies for:
- Client, who must sign forms in person
- Your records (in case of regulatory bank
audit)
Step10eFile
- IRS typically accepts within 15-30 minutes
12
Lacerte
13
Step1
On screen 4.5, check the box:
Electronic refund product
Step2
Enter ID information for taxpayer(s)
Step3
Enter Tax preparation fee
Step4
Select disbursement method
Step5
Provide the one pager information sheet on ID
protection. Can be found on our website
https://proconnect.intuit.com/pay-by-refund/
Note: Disclosures automatically print with return
Using Pay-by-Refund in Lacerte
ProConnect Tax Online
14
Step1
On the Input Return tab, select Pay-By-Refund (RA)
from the menu on the left
Step2
Check box for Electronic refund product and
enter ID information for taxpayer(s)
Step3
Enter Tax preparation fee
Step4
Select disbursement method
Step5
Provide the one pager information sheet on ID
protection. Can be found on our website
https://proconnect.intuit.com/pay-by-refund/
Note: Disclosures automatically print with return
Using Pay-by-Refund in PTO
What’s in it for youProSeries and Lacerte
Earn $10 on all federal funded Pay-by-Refund transactions
filed through the 1040 tax filing deadline of the then-current
Tax Year over and above the number of PBR transactions
funded in the prior Tax Year.*
For example, if a you issue 50 PBR transactions in TY17
and 150 in TY18, you would receive an incentive of $1,000
($10 each for the incremental 100 PBRs).
This incentive is paid out all at once by the banks on behalf
of Intuit, after the end of tax season (by 5/31/19).
15
FAQsWhat is the PATH Act and how will it affect my clients?
Taxpayers who claim the Additional Child Tax Credit (ACTC) or Earned Income Credit
(EITC) will not be issued a refund before Feb. 15. So it is important to file their taxes as
early as possible.
Can my clients use Pay-by-Refund for their state returns?
Yes, but only if they are also using it for their Federal return and only for one state.
Will using Pay-by-Refund cause delays in my clients receiving their refunds?
No. Refunds are e-filed and there is no additional delay.
How long after a client's refund is received will I get my fees paid?
Banks typically disburse funds as soon as they are received from the IRS. Your fees
are direct deposited into your bank account.
How and when are tax-preparer incentives paid?
Eligible incentives are delivered in a single payment from participating banks by
May 31 of the current tax year.
16
SummaryWith a few clicks and some data entry, you and your clients can enjoy
the convenience of Pay-by-Refund.
• No upfront, out-of-pocket expenses, allowing your clients to start their taxes
sooner so they get their refunds and you get paid as early as possible
• Streamlines receivables
• Offers an easy payment option for your clients
17
Thank you
18
*Pay-by-Refund or refund transfer program participation available to eligible ProSeries and Lacerte customers for a limited time only. Program participants will be designated to an incentive category, as determined by Intuit.
Santa Barbara Tax Products Group, Refund Advantage, Republic Bank and River City Bank are participating banks. To be eligible, participants must adopt industry refund transfer best practice principles by charging
customary and reasonable processing fees, and federal returns must be transmitted to the IRS using a single account and EFIN. Federal returns that are rejected by the IRS, are deemed fraudulent or are a result of identity
theft are not eligible for credit under the program. Aggregate credits payment will be delivered from participating banks by May 31 of the current year. A one-time bank setup fee applies to each federal Pay-by-Refund
transaction. Additional fees apply to state Pay-by-Refund filings. Offer may be terminated or modified at Intuit’s discretion, and program and software terms and conditions, including available features, credits, pricing and
support, are subject to change without notice. You must meet certain minimum funded Pay-by-Refund transaction thresholds in order to be eligible to qualify for free or discounted software. To be eligible to receive any
incentive compensation under this Program, the IRS requires Intuit to prepare a 1099. You will need to provide Intuit certain information, including: a) Tax Identification Number or Social Security Number, and b). Firm name,
primary contact, address, phone number, and email address. Failure to provide any of this information may result in your incentive payment being withheld, delayed or cancelled. For complete Pay-by-Refund program
details, including eligibility and participation requirements, restrictions and currently available credits, see https://proconnect.intuit.com/pay-by-refund or call 800-926-3796..