Why does Turbo Tax offer Tax Refund Advances but Intuit blocks Proseries users from offering them? If TurboTax offer the service. It shows that Proseries should be able to offer the service too. That fact that we can't is starting to become a competitive disadvantage to Proseries users.
I totally agree. We have lost a LOT of clients due to not being able to offer advances with our Proseries Professional software. Looking into switching software next tax season. Plus here it is Jan 30 and we still can't print MO returns because the "forms are not final".
Turbotax is for people to use for their own returns, and most of the people who use Pro Series are professionals. Many pros don't offer TFAs due to the cost to taxpayers.
Pros aren't allowed to use TT to gets tax prep fees.
@Accountant-Man That's not true because every other professional software for tax professionals allows you to do Tax Advances. I got a feeling Intuit wanted to charge the Bank Product companies an arm and leg to integrate it which is probably why they don't offer it. The fact that Intuit did it for their consumer product Turbo Tax and not for Proseries seem anti competitive to me though.
But refund advance programs were started when it took two months to get a refund. Now that it only takes two weeks, why would anybody want to beat up their clients by charging them a fee to get their money earlier than that? Instead of complaining about Intuit not offering the package with their program, why not take the time to educate your clients? Let them know that you respect them and aren't going to rip them off like H&R Schlock with extra fees.
@IRonMaN The PATH law created the new market place for advances. If you receive the EITC or ACTC you can't receive your refund until after Feb. 15th to give the IRS time to do fraud checks. The last two years the IRS didn't release those refunds until the last week of Feb around the 26th. So if you file on the Jan 27th this year and got the EITC or ACTC you will not get your refund most likely until Feb 26th. People don't want to wait that long or need the money sooner. So we have seen an rapid increase in the demand for the products over the last two years.
Yeah, I get that. Fortunately, I don't have a client base screaming to get their cash yesterday. But if you really want to get Intuit to buy into that, you are wasting your breath here. You don't have a lot of Intuit eyes looking here. If you get a bunch of preparers to start screaming at Intuit (or point out how they could make more money 💲💲💲), that is the only way you are going to maybe make it happen.
@IRonMaN Intuit already knows this and preparers have been complaining about it for at least the last three years. I had a talk to some people at Refund Advantage about two years ago, and they said Intuit was charging them an arm and leg for integration of just Refund Transfers that they stop paying incentives to Proseries users which was a few hundred dollars for my practice every year. You see Republic Bank bailed on them last year. Like I said in my earlier post chances are Intuit want the Bank Products companies to pay them an unreasonable amount to integrate it into Proseries and they refuse to pay it. You can believe First Century Bank paid a stupid amount for integration into TurboTax. Intuit stock is at all time high and with record earnings.
@IRonMaN Intuit already knows this and preparers have been complaining about it for at least the last three years.
I'm sure you're right Intuit already knows. We all have our share of dissatisfaction with Intuit's products but no tax software is perfect. Intuit knows there're complaints but even if everyone that's on this forum complains, it's only a small fraction of their customer base for ProConnect products. That's why they can keep ignoring noises coming from here (and elsewhere). If you want them to listen, you need a much bigger crowd or make the $ talk.
I can literally hear the echo every time I scream here, on the old forum, and in FB group... Hello... H e l l o . . . H e l l o . . . Can you hear the echo? And what comes after the echo? Crickets....
Still an AllStar