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New Member
posted Nov 21, 2020 8:14:29 AM

Why was my refund sent with turbotax fees taken out? “TAX PRODUCTS PE1 SBTPG LLC” was the deposit description.

After about 8 months of waiting, the irs sent a referral for my refund to be released and then I got a deposit with an extra $15 added to my expected refund amount.

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2 Replies
Level 15
Nov 21, 2020 8:19:42 AM

The IRS added interest to your refund because you waited so long.  That has no relation at all the TurboTax fees you still have to pay for having your TurboTax fees removed from your federal refund.

Level 15
Nov 21, 2020 8:34:34 AM

If you used the refund processing service then you must have already paid the TT fees since there was such a long delay ... now the refund goes from the IRS  to the processing bank where only their fee  is withheld and the balance is sent to either your bank or the debit card.