If you choose to have your software fees taken out of your refund, your refund will be sent by the IRS and/or State to Republic Bank, and then it will be deposited to your account after your fees are deducted. Upon selecting to receive your refund by direct deposit, you can then select to have your TaxAct® fees taken from your refund. Republic Bank requires an application that will be filled out during the filing process.
After your return is accepted, your bank application is sent to Republic Bank for review and processing. Once your application has been accepted and your refund is released by the IRS or State, your refund will be sent from the respective agency to Republic Bank. Your fees will be deducted and the remainder of your refund will be direct deposited into the account specified.
Note. The fee paid to Republic Bank from your refund is NOT for direct deposit. There is never a fee for direct deposit. The fee is the processing fee for having Republic Bank deduct your TaxAct fees from your refund.