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Understanding the E-File Business

Understanding the E-File Business. E-File Network. Provides income tax software. Manages the e-file transmission process and status updates of tax returns. Provides loans to qualifying tax customers with the anticipation of IRS reimbursement.

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Understanding the E-File Business

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  1. Understanding the E-File Business

  2. E-File Network Provides income tax software. Manages the e-file transmission process and status updates of tax returns. Provides loans to qualifying tax customers with the anticipation of IRS reimbursement. Acknowledges tax returns with a status, which informs Refund Advantage if any outstanding debts and rejects returns with incorrect personal information. Franchisor..

  3. BANK PRODUCTS • Rapid Anticipation Loan (RAL) • Preferred Electronic Refund Check/RT (PERC) • RAL/RT DIRECT DEPOSIT

  4. RAL 24-Hour Loan • Client receives a bank approved loan in the form of a cashier’s check in 1-3 days • The IRS direct deposits the tax refund in REPUBLIC BANK and repays the loan. • No up-front cash is required • All fees are conveniently deducted from tax refund NOTE: Loan approval is subject to bank screening and RALs that are declined are converted to PERCs/RACs.

  5. ERC 7-14 Days • Client receives a cashiers check once taxpayer’s refund is received from the IRS • Process is complete in 7-14 days • No up-front cash is required • All fees are deducted from check • Bank fees are much less than a RAL

  6. Direct Deposit & Paper Check • Bank Product: • RAL/PERC Check Direct Deposited into Client’s Personal Bank Account • Non Bank Product: (straight e-file) • Customer must pay up front • IRS deposits the refund directly into clients personal bank account takes 8-14 days • Straight E-file (paper check) • Process takes 3-4 weeks

  7. Bank Product Pricing RAL PRICING LOAN AMTFEE $3,501-$8,000 $125 $2,001-$3,500 $110 $1,001-$2,000 $80 $501-$1,000 $55 $500 and less $34

  8. Bank Product Pricing ERC/ERD PRICING Product Fee Electronic Refund Check $30 Electronic Refund Deposit $30 State ERC or ERD $10

  9. Product Recap RAL PERCRAL/PERC Direct DepositStraight Electronic Filing

  10. Franchise Owner Due Diligence • Electronic Filing Identification Number (EFIN) • Form 8633 • Fingerprint Card • Form 8453/8879 Pin Signature • Authorizes ERO to file a tax return Electronically • Signed by Taxpayer and ERO • Preparing and Completing your OWN TAXES • Individual Tax Returns • 941Employers Quarterly Federal Tax Return • Pay Taxes Due

  11. Understanding the E-File Business

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