- How to Pay Fees With Your 2008 Federal Tax Refund
Deduct TurboTax Fees from Your Federal Tax Refund when E-filing Your 2008 Return
You have the option to deduct the following fees from your federal tax refund:
- TurboTax 2008 CD/download federal and state e-filing fees
- TurboTax Online 2008 tax preparation fees
The primary benefit of using this method to pay your e-filing or tax preparation fees is that you can use the TurboTax program without charging anything to a credit or debit card. Before proceeding with this method of payment, you should know that:
- There is an extra $29.95 refund processing fee in addition to any TurboTax fees.
For example, if your TurboTax Online fee is $49.95, the amount deducted from your refund will be $79.90 ($49.95 + $29.95). The refund processing fee goes to Santa Barbara Bank & Trust.
- You don't need to use this option to e-file or have your refund direct-deposited into your bank account. It is simply an alternative way of paying your TurboTax fee.
- Deducting your fees from your refund does not change the amount of time it takes to get the refund, which is about 10 to 16 days.
Important: Although you can certainly use this option to pay for TurboTax Online state preparation fees and desktop e-filing fees, the funds can only be deducted from federal, not state, refunds. If you have no federal refund coming, you cannot use this option.Select a topic:
How does it work?
While you are preparing your tax return in TurboTax, make sure that you select the option to deduct your fees from your tax refund and carefully review the Refund Processing Agreement.
When you complete the Print & File portion of TurboTax Interview and successfully e-file your return, you'll receive a confirmation e-mail from Santa Barbara Bank & Trust (SBB&T). SBB&T will provide you an estimated date of when they expect your tax refund to be received from the IRS.
In addition, you'll be asked to log on to the Santa Barbara Bank & Trust web site to check the status of your refund. SBB&T assigns you a unique customer ID number that you'll use when you log on to their web site and with any correspondence you may have with SBB&T.
Who is Santa Barbara Bank & Trust?
Santa Barbara Bank & Trust is a FDIC-insured financial institution that has been in business since 1960. They have been offering refund processing since 1991 to participants of the IRS Electronic Filing program.
How do I contact Santa Barbara Bank & Trust?
You can contact Santa Barbara Bank & Trust for your refund processing status or for any questions that you have about your refund using any of the following methods:
- Visit their website at Santa Barbara Bank & Trust.
- Send an email to ralinquiry@sbbtral.com.
- Call them at 1-800-717-7228.
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Write to:
Santa Barbara Bank & Trust
Attn: Refund Processing Department
P.O. Box 1030
Solana Beach, CA 92075
Last year my economic stimulus payment was delayed. Will this happen again?
No. Some people who didn't receive one last year might qualify to receive a stimulus payment in 2009. However, the payment will be calculated as part of their tax refund or balance due.
