Did you get a deposit into your checking account from TPG PRODUCTS SBTPG LLC?
Or simply TPG Merchandise? Or some model of that?
And did the deposit come from Civista Financial institution? A financial institution that you simply’ve by no means heard of?
If that’s the case, you’re most likely questioning why as a result of the title is acronym soup and never one thing you anticipated. It has to do together with your tax refund.
TPG PRODUCTS SBTPG LLC stands for:
- TPG stands for Tax Merchandise Group
- SBTPG stands for Santa Barbara Tax Merchandise Group
- And the LLC is simply Restricted Legal responsibility Firm
And Civista Financial institution is the financial institution that SBTPG makes use of.
Generally, the deposit you acquired was your tax refund minus any charges. Many firms, like TurboTax and TaxSlayer, used Santa Barbara Tax Merchandise Group to course of returns and refunds.
Desk of Contents
Who’s Santa Barbara Tax Merchandise Group?
Santa Barbara Tax Merchandise Group is a tax companies firm that’s owned by Inexperienced Dot Firm. who additionally runs GO2bank and different debit card merchandise. Santa Barbara TPG was based in 1991 they usually present tax-related monetary merchandise like advances on tax refunds, debit playing cards, and so forth. to service suppliers.
They primarily market to tax professionals, like accountants, reasonably than on to taxpayers.
What’s the TPG Merchandise Deposit?
Should you labored with a tax preparation firm, like a TurboTax or TaxSlayer, and also you requested for one thing apart from a simple deposit of your refund – likelihood is it went via SBTPG.
For instance, you’ll be able to choose to have your tax preparation charges deducted out of your tax refund. That’s a service taht SBTPG gives and so your refund will get “routed” (for lack of a greater time period) via them to allow them to deduct the price and switch the remaining to you.
With TurboTax, that is known as “Pay With My Refund” however is usually known as “Refund Processing Service.” There’s a further price related to this selection, on high of the tax preparation charges, so pay attention to that (it was $39 in 2022, I’m not sure what the price is for 2023).
Who’s Civista Financial institution?
Should you opted for Pay With My Refund or one other equally named service from one other tax prep firm, you might discover that the direct deposit info in your tax return could have been modified to Civista Financial institution.
If this occurred to me, I’d be frightened too however there’s no motive to (so long as you opted for the companies).
Santa Barbara TPG works with Civista Financial institution. Civista Financial institution is an FDIC insured financial institution based mostly out of Ohio with 41 home places in two states. They’re FDIC insured underneath FDIC Cert# 12982, although you don’t have an account there.
What’s taking place is that your tax refund shall be despatched there, the charges are deducted, after which the remaining steadiness is shipped to you.
What if there’s a discrepancy?
Should you use the Refund Processing Service, you get a deposit to your tax refund minus tax preparation charges and minus the Refund Processing Service price.
Should you discover a discrepancy within the deposit quantity, your best choice is to contact Santa Barbara TPG at 800-779-7228 or go to the TPG web site for taxpayers to test in your refund switch particulars.
Who Makes use of Santa Barbara Tax Merchandise Group?
I don’t have an exhaustive checklist of the tax preparation firms that use Santa Barbara TPG however I believe lots of native tax accountants most likely do – it’s a compelling method for them to supply companies reserved for bigger companies.
From what I can inform, many of the nationwide tax preparation companies use them together with TurboTax, TaxSlayer, Jackson Hewitt, eTax, and TaxAct.