Tax Products Pe1 Sbtpg Llc Deposit Missing Money (2024)

FAQs

Why did I get a random deposit from TPG products? ›

Explanation: If you have received a deposit from TPG Products SBTPG LLC, it likely means that you have recently filed a tax return and have chosen to receive your tax refund via a product offered by Santa Barbara Tax Products Group (SBTPG).

Who is Santa Barbara Tax Products Group? Santa Barbara Tax Products Group is used to process your refund when you elect to have your tax preparation fees deducted from your refund. Therefore, your review page is showing a Direct Deposit to them.

There are lots of reasons why this might happen. In most cases, the IRS takes part of your refund to pay for outstanding government debts you might owe. These include: Overdue federal tax debts.

Did you use the File & Go option? When you elect to have the tax program fees deducted from your refund, the refund is sent in its full amount to the third-party bank. The third-party bank then deducts the program fees and their convenience fee before depositing the remaining refund into your bank account.

SACRAMENTO, Calif. — Some people received refund checks from the IRS even though they were told they owed them money. Is it simply just a nice surprise or a mistake? One tax expert says it could be the result of an error in completing the return, so the IRS corrected it and sent a refund.

All or part of your refund may be offset to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal nontax debts, such as student loans.

If you used that payment method to pay TurboTax fees, the IRS first sends the Federal refund to an intemediary bank where the fees are subtracted. Then that bank sends the rest of your funds to your bank account (or card) in a second direct deposit. SBTPG (aka TPG) is the company that administers that process.

Santa Barbara Tax Products Group, LLC (SBTPG) is the bank that handles the Refund Processing Service when you choose to have your TurboTax fees deducted from your refund. This option also has an additional charge from the bank that processes the transaction.

The IRS may request more information in order to complete the review and release the refund. The IRS or BFS may have offset the refund to pay off an outstanding debt - The IRS and/or the Bureau of the Fiscal Service (BFS) will mail a letter within a few weeks with details about the debt and amount collected.

Answer: If you lost your refund check, you should initiate a refund trace: Use Where's My Refund, call us at 800-829-1954 and use the automated system, or speak with an agent by calling 800-829-1040 (see telephone assistance for hours of operation).

Did not receive full tax refund.? ›

If your refund was less than you expected, it may have been reduced by the IRS or a Financial Management Service (FMS) to pay past-due child support, federal agency nontax debts, state income tax obligations, or unemployment compensation debts owed to a state.

If you owe money to a federal or state agency, the federal government may use part or all of your federal tax refund to repay the debt. This is called a tax refund offset. If your tax refund is lower than you calculated, it may be due to a tax refund offset for an unpaid debt such as child support.

Money can be deposited into a checking or savings account. Funds are disbursed immediately upon IRS or state funding, reaching your bank account in 1-2 business days.

Final answer: TPG Products SBTPG LLC on a bank statement typically refers to the Santa Barbara Tax Products Group, a company involved in tax refund processing. They provide services such as refund advances or refund transfers, which may be used to deduct tax preparation fees before the refund is deposited.

Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank.

It could be: A refund from a filed tax return, including an amended tax return or an IRS tax adjustment to your tax account – this will show as being from the IRS (“IRS TREAS 310”) and carry the code “TAX REF.”

If you ever run into a situation where you notice an unexpected deposit, you should leave it alone and notify your financial institution as soon as possible. It's possible that the erroneous deposit is already on someone's radar and in the process of being reversed, but not always.

Checks issued after Oct. 31 are printed by Santa Barbara Tax Products Group (sbtpg) and mailed via USPS regular mail to the address provided on your client's tax return. Make sure to confirm the following: You are using either of the following preferred browsers (Chrome is preferred)

TPG offers tax-related financial products through a network of tax preparation franchises, independent tax professionals and online tax preparation providers. TPG is located in San Diego, California. UltimateTax has been a partner with TPG since 2006. The fees with TPG are $44.95 for the bank fee.