This is the descriptor for the intermediary company (Santa Barbara Tax Products Group, aka SBTPG) that processes a refund when you choose to pay fees out of the Federal refund. That company first receives your funds from the IRS, then takes the fees out of the Federal refund, then sends the remainder on to your bank or prepaid debit card. Did you get a deposit with that description?
@Kansuella wrote:Only got some of my money.
You'll have to explain that. If you received a deposit of your Federal refund from "Tax Products", aka SBTPG, PE2, etc., that implies you had TurboTax fees that you chose to pay out of your Federal refund. That intermediary company receives the refund from the IRS, subtracts the fees, then sends the rest to your bank account (or card.)
Your Federal refund amount is on your Federal Form 1040, Line 21a. Then from that amount subtract your product fees, and the $40 service fee for that payment method ($45 for California filers), plus possible sales taxes.
Also be sure you are considering only the Federal refund amount. The TurboTax site displays a "total refund" amount at the Tax Home which confuses some users. That is the total of Federal and State added together. Any state refund (if applicable) comes separately in a direct deposit directly from the state tax agency.
So if the difference you are seeing is not explained by the product fees (and service charge) or a state refund (which comes separately), then the IRS may have reduced your refund. If so, they should send you a letter in about 3 weeks or so explaining why. But with the Coronavirus situation, a lot of correspondence from the IRS has been put on hold, causing delays.
Yes I received that description. But it’s still saying I should get my federal refund on March 4th. Will I still get that?
@ meganmurphy1031
wrote:Yes I received that description. But it’s still saying I should get my federal refund on March 4th. Will I still get that?
I don't know. Your situation is not clear. Maybe you already received it (minus product fees and service charge). I'll tell you below how to check with SBTPG, and you can ask them if that was your Federal refund that you received or to otherwise explain to you what their deposit to you was for.
So is the IRS "Where's My Refund" tool saying you should receive a deposit by March 4? If the IRS has released it and provided a date, then maybe you got it early. When did you get the deposit from Tax Products Group?
What is it that makes you think that the deposit from Tax Products Group is not a Federal refund?
Did you choose to pay your TurboTax fees out of your Federal refund?
If so, here's how to check on at the SBTPG website.
Go to the SBTPG (Tax Products Group) website below.
Choose the Taxpayers button.
On the next screen choose "Check with TPG."
Use their little refund tool there. Enter the 3 items and click on Sign In.
What does it say about your Federal refund?
If you need to speak to SBTPG, they have a phone contact page at the following link. It also shows their business hours. Even when they are closed, you may be able to get automated info, or you can log into SBTPG as I outlined above.
https://help.sbtpg.com/hc/en-us/articles/230084587-Contact-Information
Hi,
I received this notification in my bank account, and I matched the amount I was expected to get on my federal return located in Turbo Tax and they paid me short by $1,000+. I did allow my turbo tax fees to be taken out of the fed return but, it was only suppose to be $40 or so. I paid for the IRS insurance so that turbo could communicate to IRS on my behalf for any questions. Doesn't seem to have worked as I am now having to ask where is the rest.........
@Ramrod360 Short $1,000+ sounds like an offset or an adjustment. You had $40 to Santa Barbara bank plus the TurboTax fees would not add up to over $1,000. This means one of two things happened. Either the IRS did an:
The IRS will send you a letter explaining what happened either way. For the offset, you can call the IRS at 800-304-3107, see Topic No. 203 Reduced Refund.
Yes but I only receive $1806.00 , what happens to the rest of the refund
@Gatofelix220 Did you claim the Recovery Rebate Credit on your return?
Click this link for more info on why the IRS may have made Adjustments to Recovery Rebate Credit.
I got a deposit of $1,088 from PE2 as well, and my fed return was supposed to be $1,866. I remember seeing the tax product thing towards the end of me filing. But I'm almost positive it wasn't that much of a shortage.
@ stevensk32
wrote:I got a deposit of $1,088 from PE2 as well, and my fed return was supposed to be $1,866. I remember seeing the tax product thing towards the end of me filing. But I'm almost positive it wasn't that much of a shortage.
If you chose to pay your TurboTax fees out of your Federal refund, then your product fees plus a $40 service fee ($45 for California filers) would be taken out of your Federal refund. The funds go first from the IRS to an intermediary bank where the fees are subtracted. Then that bank sends it on to your bank/card with a description similar to "Tax Products PE3 SBTPG" (or similar).
Go by the refund amount showing on your Form 1040, Line 35a, then subtract the TurboTax fees and service charge (and possible sales tax.) A state refund comes separately. Do not go by a total refund amount that TurboTax may have provided on a summary screen; that total refund figure adds the Federal and state refunds.
The fees and service charge would not be enough to explain your shortage, however. Again, if you're expecting a state refund, it comes separately. The IRS may have adjusted something on your return, and if so, they'll send you a letter in about 3 weeks or so, telling you why and what options you have if you disagree.
For instance, you could have had an offset.
Or did you claim the Recovery Rebate Credit? That's a common source of IRS adjustments. I'm wondering if they might have adjusted a stimulus credit you had on the return.
Check the IRS "Where's My Refund" tool to see if there is any message there about any adjustment.
Your Intermediary Company took $661.33 from my scheduled IRS Refund of $964.00 for services rendered. According to my program is it was not suppose to be that much. Can you explain this difference?
@ smyansak
wrote:Your Intermediary Company took $661.33 from my scheduled IRS Refund of $964.00 for services rendered. According to my program is it was not suppose to be that much. Can you explain this difference?
This is a user community forum. We can tell you how to check on it.
How do you know it was the intermediary company SBTPG that took it? The IRS may have lowered your Federal refund before it got to the intermediary company. Or are you also expecting a state refund? If so, the state refund comes separately in another deposit, and should not be considered in the expected amount from the intermediary company.
For the Federal refund amount that you submitted go only by the amount shown on your Form 1040, Line 35a. Do not go by any summary screen you may have seen in TurboTax that uses the term "total refund" and adds the Federal and state refunds together.
Then subtract the product fees plus the $40 service fee for that payment method ($45 for California filers).
Also check the IRS WMR tool to see if there is any message there. If the IRS lowered your Federal refund, they should send a letter in about 3 weeks or so. But sometimes they also leave a message in the WMR tool.
Here's how to check with the intermediary company SBTPG to see how they handled your Federal refund.
You can log into the SBTPG refund lookup tool at the link below. First use the "For Taxpayers" portal, then on the next page choose "Check with TPG."
SBTPG also has a phone contact page at the following link. It also shows their business hours. Even when they are closed, you may be able to get automated info, or you can log in as above.
https://help.sbtpg.com/hc/en-us/articles/230084587-Contact-Information
when I did my refund I was supposed to get $1,800 and some cents, I got a deposit in my account for $404 and don't understand where the rest of the money went. Unless I'm supposed to get another deposit. Can you please let me know in any way shape or form what is going on!?
Plus I had to pay $120 for services I've never p aid for before. I get taking that much out, but $1,400......No way!!!!!
Ellen Parker
I am really upset that there were 500 dollars taken out of my federal refund. No one ever has answers y either. I would luv to know wat is goin on as well. If any answers please let us know
@mathey12 wrote:I am really upset that there were 500 dollars taken out of my federal refund. No one ever has answers y either. I would luv to know wat is goin on as well. If any answers please let us know
Since you're posting in this particular thread, I'll assume you choose to pay TurboTax product fees out of your Federal refund. But that wouldn't explain the entirety of the $500. The product fees and additional $40 service fee ($45 for California filers) would only account for some of the shortage.
Are you also expecting a state refund? If so, the state refund comes separately. TurboTax shows a summary screen with a "Total refund" that includes both Federal and state refunds. Do NOT go by that total figure. The amount to consider for your submitted Federal refund is on your Federal Form 1040, Line 35a.
Check the IRS WMR tool to see if there is any message there.
If if was the IRS that lowered your Federal refund, they should send a letter in about 3 weeks or so explaining why and what options you have if you disagree. But sometimes they also leave a message in the WMR tool.
When you choose to pay fees out of your Federal refund, that's handled by a third-party company SBTPG. Here's how to check with the intermediary company SBTPG to see how they handled your Federal refund.
You can log into the SBTPG refund lookup tool at the link below. First use the "For Taxpayers" portal, then on the next page choose "Check with TPG."
@ Ellen Parker
wrote:when I did my refund I was supposed to get $1,800 and some cents, I got a deposit in my account for $404 and don't understand where the rest of the money went. Unless I'm supposed to get another deposit. Can you please let me know in any way shape or form what is going on!?
This is mainly a user community forum, so unfortunately, no one here can tell anyone anything specific about their Federal refund, and TurboTax Support does not get any info back from the IRS in that regard. I can tell you some things to check, however.
Are you also expecting a state refund? If so, the state refund comes separately. TurboTax shows a summary screen with a "Total refund" that includes both Federal and state refunds. Do NOT go by that total figure. The amount to consider for your submitted Federal refund is on your Federal Form 1040, Line 35a.
Check the IRS WMR tool to see if there is any message there.
If if was the IRS that lowered your Federal refund, they should send a letter in about 3 weeks or so explaining why and what options you have if you disagree. But sometimes they also leave a message in the WMR tool.
When you choose to pay fees out of your Federal refund, that's handled by a third-party company SBTPG. Here's how to check with the intermediary company SBTPG to see how they handled your Federal refund.
You can log into the SBTPG refund lookup tool at the link below. First use the "For Taxpayers" portal, then on the next page choose "Check with TPG."
If it was the IRS that lowered your refund, and if there's no message at the IRS WMR tool, then the only way to get any info prior to the letter they would send is to phone them and speak to a live IRS agent. We can tell you how, but it probably wont be easy to reach one.
Hello today I got a deposit for 795.77 and I'm not sure why, I filed my 2020 taxes wrong and had to file an amended return on April 5 2021 but it still says processing, so I don't think it's that, this says deposit from TAX PRODUCTS PE2 for SBTPG LLC, thank you for any help