Is TaxWise - Solutions for the Tax Professional right for your business?

TaxWise - Solutions for the Tax Professional is a great fit for many businesses. Find out if it's the right choice for you! Are you looking for a TaxWise - Solutions for the Tax Professional demo, technical support, product or pricing information or to simply to compare TaxWise - Solutions for the Tax Professional with competitive options? Quickly get answers and the information you need.

As an additional service to our customers, TaxWise works in conjunction with four banks to allow our customers access to a wide variety of bank product options. Taking advantage of these bank product options will not only benefit you, but will benefit your clients as well, keeping them coming back to you again and again.

Benefits to your Clients

  • Faster Cash from Tax Refunds - Your clients can return to your office to pick up their checks in as little as 24 hours.
  • Direct Deposit - Your clients can choose to have their refund checks direct deposited into their personal checking/savings accounts.
  • No out of pocket expenses - All your clients’ tax preparation fees are taken out of their refund.

Benefits to the Tax Preparer

  • Increase revenue
  • Attract new clients with expanded services
  • Maintain a competitive edge in the tax preparation market
  • Have your fees withheld and direct deposited
  • No cash is required
  • Your clients will love the speed and convenience bank products provide

Bank Programs

Instant Refund Anticipation Loan (IRAL)

Instant RAL (IRAL) is a product that provides individual taxpayers, who are entitled to a Federal tax refund, an instant loan decision and immediate partial disbursement of the proceeds. The application decision is based on proprietary scorecard technology and occurs prior to any acceptance/acknowledgement returned by the IRS. Results of IRAL applications are available in the office in minutes. At the time the IRAL is approved, the individual seeking the return is only charged the IRAL Fee and the Set-Up Fee. When/if the bank approves the remainder of the refund as a Classic RAL, the Finance Charge along with all other tax related fees will be deductec from that second check.

Refund Anticipated Loan (RAL)

For individuals who have an immediate need for their tax refund, the RAL may be the product of choice. The bank will lend funds on the anticipation of the taxpayer’s refund being deposited from the IRS to cover the loan.
Typically, these loans are granted within 1-3 days. Once the loan is approved you can print the RAL check. Your fees are then deposited into your account within a few days of printing the check.

Electronic Refund Check (ERC)

For those taxpayers who prefer a check or do not have a bank account, an ERC is the answer. The ERC bank deposits your fees into your own bank account. The bank will then authorize you to print the taxpayer’s check, less all associated fees. The fee for an ERC is lower than the 1-3 day Refund Anticipated Loan making this an attractive option for many taxpayers.

Direct Deposit Refund Anticipation Loan (DDRAL)

Perfect for taxpayers who have an immediate need for their tax refund and have a bank account. The bank will lend funds on the anticipation of the taxpayer’s refund being deposited from the IRS to cover the loan.
Typically, these loans are granted in 1-2 days. Once the loan is approved, your prep fees are deposited into your bank account and the balance of the refund is deposited into the taxpayer’s bank account.

Direct Deposit Refund (DDR)

This is the preferred product of CPA’s, EA’s and other tax professionals to guarantee their fees which are automatically deducted from a taxpayer’s refund. Your preparation fees are deposited into your bank account and the balance of the refund is deposited into the taxpayer’s bank account. There are no checks to print and the DDR should help to reduce your overall accounts receivable and bad debts.

Universal Tax System, Inc. is not a lender or broker of bank products. Bank products are offered by participating banks. Participating preparers must be qualified and approved by the bank.