- How to Pay Fees With Your 2007 Tax Refund
Deduct TurboTax Fees from Your Tax Refund when E-filing Your 2007 Return
You have the option to deduct the following fees from your tax refund:
- TurboTax 2007 CD/download federal and state e-filing fees
- TurboTax Online 2007 tax preparation fees
The primary benefit of using this method to pay your e-filing or tax preparation fees is that you can use the TurboTax program without charging anything to a credit or debit card.
If you choose this method, there is an extra fee of $29.95 called a "refund processing fee," in addition to the TurboTax e-filing fees (if any). You'll pay this extra fee(s) to Santa Barbara Bank & Trust out of your tax refund.
Note: You don't need to deduct your fees from your refund in order to e-file, or to have your refund deposited into a bank account (direct deposit). Deducting your fees from your refund does not change the amount of time it takes to get the refund -- it's about 10 to 16 days.Select a topic:
While you are preparing your tax return in TurboTax, make sure that you select the option to deduct your fees from your tax refund and carefully review the Refund Processing Agreement.
When you complete the Print & File portion of TurboTax Interview and successfully e-file your return, you'll receive a confirmation e-mail from Santa Barbara Bank & Trust (SBB&T). SBB&T will provide you an estimated date of when they expect your tax refund to be received from the IRS.
In addition, you'll be asked to log on to the Santa Barbara Bank & Trust web site to check the status of your refund. SBB&T assigns you a unique customer ID number that you'll use when you log on to their web site and with any correspondence you may have with SBB&T.
Santa Barbara Bank & Trust is a FDIC-insured financial institution that has been in business since 1960. They have been offering refund processing since 1991 to participants of the IRS Electronic Filing program.
You can contact Santa Barbara Bank & Trust for your refund processing status or for any questions that you have about your refund using any of the following methods:
- Visit their website at Santa Barbara Bank & Trust.
- Send an email to ralinquiry@sbbtral.com.
- Call them at 1-800-717-7228.
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Write to:
Santa Barbara Bank & Trust
Attn: Refund Processing Department
P.O. Box 1030
Solana Beach, CA 92075
No. With the recent enactment of the Economic Stimulus Act of 2008, TurboTax does not ask for deposit information for your economic stimulus payment.
Although the IRS encouraged tax filers to elect to have their rebates deposited directly into their bank accounts, some filers will only be able to receive theirs by mail. They include filers who conducted certain financial transactions, such as paying filing fees from the proceeds of their tax refunds, using third parties, such as SBB&T.
