Tax season is more than just forms and filings — it’s also an opportunity to enhance the client experience and increase your practice’s profitability. For tax professionals using TaxAct Professional, bank products offer a compelling solution to do both.

Whether you’re a solo preparer or part of a larger firm, offering bank products can streamline operations and offer clients flexible refund options, all while potentially creating a new revenue stream for your business.

 

What Are Bank Products?

Bank products in the tax preparation world are financial services that allow taxpayers to pay for tax prep fees from their refund instead of upfront. These solutions are often bundled with features like direct deposit, refund advances, and prepaid debit cards.

Common Bank Products Include:

  • Refund Transfers – Clients pay tax prep fees from their IRS refund
  • Refund Advances – Clients can access a portion of their refund early (often in 24 hours or less)
  • Prepaid Debit Cards – Refunds are loaded onto secure cards, ideal for unbanked clients

These services are typically offered through financial institutions integrated with professional tax software, including TaxAct Professional.

 

Benefits for Tax Professionals Using TaxAct Professional

1. Improve Cash Flow for Clients

Bank products eliminate the need for clients to pay upfront. This is a huge advantage for clients who may be counting on their refund to cover costs, especially in lower-income households or during economic uncertainty.

2. Boost Your Revenue Stream

With each bank product transaction, tax professionals earn a rebate or incentive from the partnering financial institution. That means you’re increasing your bottom line without increasing your workload.

3. Fast and Flexible Refund Delivery

Using TaxAct Professional, clients can opt for faster refund delivery through direct deposit or debit card—often receiving funds quicker than by mail. This helps build trust and satisfaction in your services.

4. Secure and Compliant

Bank products offered through TaxAct Professional are compliant with IRS regulations and securely integrated, reducing the risk of errors or delays. You maintain full control of disbursement options through a streamlined dashboard.

5. Easy Integration and Setup

TaxAct Professional makes it easy to set up and offer bank products. Once you’re approved with a participating bank partner, you can activate offerings within your software—no third-party integrations needed.

How to Offer Bank Products in TaxAct Professional

Step 1: Enroll with a supported bank

Step 2: Activate bank products in your TaxAct Professional dashboard

Step 3: Present options to clients during intake or review

Step 4: Manage all bank product activity from within the software

TaxAct provides full training and support, including marketing materials, to help you introduce bank products to clients professionally and compliantly .

Make Tax Season Easier

Bank products aren’t just a convenience for your clients—they’re a smart strategy for growing your business. For tax pros using TaxAct Professional, enabling these services can lead to better client satisfaction, greater efficiency, and increased revenue.

As tax season approaches, now is the time to enroll with a bank partner and activate these tools within your software. The earlier you’re set up, the more clients you can help from day one.

 

Want to Learn More?

Discover more about our bank products.

Check out: TaxAct Professional bank product support

 

 

Disclaimer:

Bank Products are offered by Republic Bank & Trust Company, Member FDIC and by Santa Barbara Tax Products Group, LLC, (TPG), a Green Dot Company, through Civista Bank, Member FDIC. TaxAct, Inc. gets fees from some third parties, including Republic Bank and Santa Barbara Tax Products Group, LLC (TPG), that provide offers to its customers. This compensation may affect what and how we communicate Republic Bank or Santa Barbara Tax Products Group offers to you. TaxAct is not a party to any transactions you may choose to enter into with Republic Bank or Santa Barbara Tax Products Group, does not itself offer legal, financial, or investment advice, and disclaims any liability arising out of such transactions. Please see Republic Bank and Santa Barbara Tax Products Group’s websites for full terms and conditions.