That is the service charge of the third party processor who receives the federal tax refund from the IRS, deducts the TurboTax account fees and their service charge. Then deposits the remaining refund into the account requested by the taxpayer.
How long will TurboTax say accepted?
They will provide an actual refund date as soon as the IRS processes your tax return and approves your refund. Most refunds will be issued in less than 21 days. You can start checking the status of your refund within 24 hours after you have e-filed your return.
Why is TurboTax making me pay $40?
The first $40 fee is the cost of TurboTax Deluxe. The second $40 fee is for using your refund to pay for your TurboTax fees. This process is called refund processing.
Why does TurboTax charge $40 twice?
A second $40 could be for a state return. Or the Pay with Refund fee to have the first $40 deducted from your refund. If you select to have the fees deducted from your refund there is an EXTRA 39.99 Refund Processing Service charge (44.99 for California).
Why does Turbo Tax ask for your year end balance?
If TurboTax asks for your year-end balance immediately after you have entered your traditional IRA contribution, it’s because TurboTax believes that you have made an excess contribution.
Can you get a tax refund from TurboTax?
If you made less than $34,000 last year and paid to file your taxes on TurboTax, you may be able to get a refund. A reader who reported that TurboTax agreed to refund his money said he called the…
What are the most common questions about TurboTax?
To help make the filing process as easy as possible, TurboTax has answered the most commonly asked tax questions for this tax season. Who Can I Claim as a Dependent?
Is the company that makes TurboTax really free?
The company itself admits this. This is a good time to remind you: Intuit, the maker of TurboTax, is one of the companies that has promised the IRS to offer free tax filing to lower-income Americans. Is it called the Free Edition?