FeeCollect™ PS Q&A:
What is FeeCollect PS?
FeeCollect PS is a refund settlement service that works similarly to our current FeeCollect option. The Taxpayer's refund will be processed through TPG with the option of having funds disbursed via check, direct deposit or TPG's Walmart MoneyCard (additional fees may apply). Tax preparation fees will be deducted from the refund and deposited directly into the ERO's bank account.
Who can use this service?
This payment solution service is available to all TaxWise customers who have purchased one of the TaxWise PS packages. If you would like to sign up for one of the TaxWise PS packages you may contact a CCH SFS Account Manager at 800-495-4626.
Can I offer FeeCollect and bank products too?
No, FeeCollect PS is an alternative to traditional bank product offerings. With FeeCollect PS the ERO can provide taxpayers the same options that are available with a traditional product. This option has no additional fees to the taxpayer, unless they elect to receive a check.
What is the fee charged to the ERO?
The FeeCollect PS service is one of the offerings that will be included in your Solutions Fee, which will be set up when you purchase one of the TaxWise PS packages. You can verify your Solutions Fee under the Fee Information section of your Enrollment Application.
What is the Solutions Fee
The Solutions Fee is the per-return transactional fee that is charged to EROs using a TaxWise PS package. The fee covers the cost of all of the service offerings available with the PS plan. To verify your Solutions Fee, click on the Fee Information section of your Enrollment Application.
What makes FeeCollect PS different from FeeCollect?
With FeeCollect PS, you have additional options to offer the taxpayer other than direct deposit or the Walmart MoneyCard. For an additional fee,
taxpayers can choose to have their check printed in your office via the Online Check Printing center available through the TaxWise/ATX support site. TaxWise users also have
the ability to offer their clients and advance on their refund. Advances would be dispensed via check or card.
Another great feature PS offers is FeePay. Feepay is a direct ACH which allows for the collection of your tax preparation fees from the taxpayer’s bank account, regardless of the refund or balance due.
How does FeeCollect PS work?
The ERO selects the FeeCollect option on the Main Information page of the TaxWise tax
software. The software then creates a refund authorization and taxpayer consent form. Once both forms are complete
they are to be printed with the tax return and kept on file. When the taxpayer's refund is received by TPG, the tax
prep fees will be deposited directly to the ERO’s bank account and the remainder of the refund will be issued to the
taxpayer via check, direct deposit, or Walmart MoneyCard.
If the taxpayer wishes to have their refund received via the IRS but wants the ERO’s preparation fees automatically deducted from their bank account, then they will have this option on the FeeCollect PS form under the Fee Payment section.
How do I print checks?
By choosing FeeCollect PS you will automatically receive Online Check Printing functionality. You will receive a notification through the software when your check is available to print. Simply log in to the support site, click on Online Check Printing and follow on screen instructions. Prior to the start of season, you will receive a shipment of check stock from TPG, for additional checks you will need to contact the bank.
How do I get signed up for the Walmart MoneyCard?
EROs who wish to participate with this program must sign up directly with TPG on their website at https://cisc.sbtpg.com/pro-landing.html