Have you lost clients or potential clients because of the high cost of your tax services? It’s not uncommon, everybody wants the best until they see the price tag associated with it. This isn’t an article telling you that your prices are too high. Instead, we want to share a solution that will benefit your tax business and the clients who trust you year after year. Bank Products!
What are Bank Products
Have you ever offered to let a client pay you after they received their tax return? It’s not that uncommon. Most people can only afford professional tax services after they receive their refund from the IRS. The main issue with this is that there isn’t much of a guarantee they will actually pay you for your work. Even if you have some form of contract with them that still requires payment collection services and possible expensive legal action to get what you are owed.
That’s where Bank Products come in. Bank Products give you the ability to collect guaranteed payment from a client’s tax return. Tax offices partner with a bank in order to facilitate bank product funded returns. Using Bank Products is easy and the whole process can be explained in four simple steps.
- The taxpayer agrees to use bank products to pay for your tax services.
- You, the tax pro, complete their return, mark it as bank product funded, and transmit it to the IRS. (Still need tax software? Click here)
- When the return is processed and the refund is released it goes to the bank, which takes a small fee for facilitating the transaction.
- The agreed upon amount for your tax services is taken out of the return and given to your tax office while the remainder is released to the client.
Using Bank Products is just that easy! Simply enroll with a partner bank and enjoy a seamless payment experience!
We hope you found this brief but informative article helpful for yourself and your tax business. If you want to be able to offer your clients Bank Products this year then now is the perfect time to fill out your bank enrollment form.
Get Enrolled today at the link below:
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