If you are electing to receive a direct deposit, and have an expected refund of $100 or more, you can have your TaxACT product and e-filing fees deducted from your tax refund (federal or state). In order to see this option in the software, though, you must give your consent when prompted.

While having your fees taken directly from your refund is often most convenient, please note that a service fee of $17.99 will be assessed if you select this option. This fee is in addition to the fees you pay for using the TaxACT software.   

Once you click the E-File My Return button in the Filing tab, you will be given refund options. After you give your consent, you can choose to receive your refund via Direct Deposit, PayPower Card, or by a paper check sent to you in the mail. We have listed information below regarding the fees for each option:

Pay Product/E-Filing fees by Credit Card Deduct Product/E-Filing fees from Refund
Direct Deposit No Fee $17.99*
Paper Check No Fee N/A
PayPower Card $9.99* $9.99*
*and applicable TaxACT product/e-filing fee

No matter which filing option you choose, the IRS or State must first accept your return before it can issue a refund. The filing option you chose in the TaxACT program determines what the IRS or State does with your refund. 
If you select the Direct Deposit option, and choose to have your TaxACT fees deducted from your refund:
  1. The IRS or State releases your refund to Republic Bank.
  2. Republic Bank receives your refund and then deducts the TaxACT product/e-filing fees & their own bank transaction fee from the original refund amount
  3. Republic Bank deposits the remainder of the refund into the account you listed on your tax return.

If you select the PayPower Card option, and choose to have your TaxACT fees deducted from your refund:
  1. The IRS releases your refund to Bancorp Bank
  2. Bancorp Bank deducts the TaxACT product/e-filing fees & the PayPower card fees from your tax refund
  3. Bancorp Bank directly deposits the remainder of the refund on the prepaid card. 
  4. You activate the card and use it like a debit card until funds are depleted. 
Please note: Only a federal refund can be deposited on the PayPower Debit Card. If you choose this option for the federal refund, you must choose direct deposit or check for the state refund.

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