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According to the TurboTax support forum (https://ttlc.intuit.com/), they've officially switched from SBTG to MetaBank for the 2024 tax season. Many users are reporting the same issue you're experiencing. The IRS Where's My Refund tool (https://www.irs.gov/refunds) should still show accurate information about your federal refund status regardless of which bank TurboTax is using as an intermediary. SoFi has a good reputation for processing government deposits quickly - their banking backend is actually operated by The Bancorp Bank, which handles millions of direct deposits daily. Just make sure your SoFi account number and routing number were entered correctly in your tax return.
I had this same issue and learned some things you should watch out for: ⢠TurboTax switched from SBTG to MetaBank this year ⢠The SBTG website won't work for 2024 TurboTax customers ⢠The $25 fee refund is automatic but takes 5-7 business days ⢠SoFi sometimes posts government deposits a day early ⢠If you don't see it by March 25th, check that your account number is correct ⢠TurboTax customer service wait times are 60+ minutes right now My refund eventually came through fine, but it was stressful not being able to track it through the process like previous years. Hopefully TurboTax improves this for next year!
@Luis Angel Pichardo No need to worry! Your situation is actually different from what the original poster described. The fact that you can see your information in SBTPG is a GOOD sign - it means your refund is properly in their system and being processed. The original poster was concerned because they COULDN T find'their info in SBTPG, whereas you CAN see yours. SBTPG Santa Barbara (Tax Products Group is the) bank that TurboTax and some other tax preparers use to process refunds and deduct any fees before sending the remainder to you. If you want to track your refund more precisely, I use taxr.ai to get my dates. It was pretty accurate for me. You can also check the IRS Where s "My'Refund tool for" official updates. Your refund is likely progressing normally through the system. The processing time can vary, but seeing your info in SBTPG means you re on'track!
Have you considered hiring a tax professional to deal with this for you? Sometimes it's worth paying someone who knows how to navigate the system.
I've thought about it, but I'm worried about the cost. Any idea what something like this might run?
It varies, but for a straightforward issue like this, probably a few hundred bucks. Might be worth getting a consultation to see if they think they can help.
tldr: IRS phone system sucks, gather all your docs, be prepared to wait forever, and may the odds be ever in your favor š
lol remember when filing taxes was just... filing taxes? Now we need secret agent PINs and shit. What's next, retinal scans? š
Has anyone had experience with getting an IP PIN if you're a victim of identity theft? I heard the process is different.
PSA: Be careful of scams! There are a lot of people out there trying to take advantage of folks dealing with IRS issues. Always double check you're on the official IRS website and never give out personal info over the phone unless you initiated the call.
Thanks for the heads up! I'll definitely be careful. Any red flags I should watch out for?
Amina Diallo
Quick question - does anyone know if these late fees are tax deductible? Asking for a friend... š
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GamerGirl99
Pro tip: If you're having trouble paying, look into an Installment Agreement. You can set up monthly payments and it might help reduce some of the penalties. Just make sure you can stick to the payment plan!
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Zainab Mahmoud
ā¢That's a great idea! Do you know if there's a minimum amount you have to owe to qualify for an Installment Agreement?
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GamerGirl99
ā¢AFAIK, there's no minimum, but the process is different depending on how much you owe. If it's under $50k, you can usually set it up online pretty easily. Over that, and you might need to provide more financial info.
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