Pre Season Funds and Simply Paid are two programs that provide cash flow to qualified tax professional partners before and during tax season. Here's how it works:
Pre Season Funds - Pre-Season Cash Flow
New and existing Santa Barbara Tax Products Group clients that qualify can use Pre Season Funds to help with office startup & promotional expenses. So whether leasing office space, purchasing office supplies, securing advertising or hiring seasonal staff, the pre-season advance can help you prepare your office for the upcoming tax season.
Amount available: Up to $67,8001
Cost:
$15 for every $1,000 advanced after Dec. 31
$30 for every $1,000 advanced between Dec. 1-31
$45 for every $1,0000 advanced between Nov. 1-30
$60 for every $1,0000 advanced on or before Oct. 31
Cash available: Starting early October
Simply Paid - In-Season Fee Advance
Simply Paid, the in-season fee advance, acts just like a line of credit at the start of tax season, with a portion of your tax preparation fees advanced to you upon IRS Accepted Acknowledgement.
Amount available: Up to $338,8002
Cost: 1.5% fee for every $100 advanced
Cash available: First day of filing3
Amount advanced: 70% of tax prep fee - up to $600 per return3
How money is advanced
Pre Season Funds
The requested amount is issued upon approval in one direct deposit.
Simply Paid
During tax season thru February 20th, we advance 70% of the tax preparation fees requested - up to $600 per return. Fees are advanced when IRS Accepted Acknowledgement is received, up to the tax professional's advance limit. We are unable to advance fees on returns with a denied Fast Cash Advance.
Fees will be advanced through February 20th.
How advances are repaid
What happens during tax season?
When IRS funding arrives, we use all of the tax preparation fees withheld from the clients' refund amounts to repay the amount advanced. This reduces the amount advanced to you below your limit. We will advance fees again until you reach your advance limit.
What happens when I opt in to both products?
Once you get into tax season, Pre Season Funds and Simply Paid are combined into a single amount that is available to you. We will advance tax preparation fees up to this total limit.
Can I turn off Simply Paid during tax season?
If you decide you no longer need Simply Paid, you can turn it off at any time by returning to the Program Opt-Ins page and selecting the Tax Pro Advance program.
How are the advances repaid?
Once the program expires or is turned off by the tax professional, the tax preparation fees collected from the clients' refunds are used to repay the amount advanced until it's fully repaid. Once we have fully collected the amount advanced, it's business as usual, with fees paid upon IRS funding.
Tracking your advances
Login to our website and track your advance loan balances from "My debt balances" on the dashboard. The Amount Issued will show the amount advanced to you, and the Amount Outstanding will display your current balance - the amount that is still owed to Santa Barbara Tax Products Group. Once the advance amount has been fully repaid the Amount Outstanding will be $0.00.
Select the "View report" link to run and view the Fee Deductions Report.
1 Must opt-in by January 14 to qualify. Advances subject to approval. Must be enrolled in Standard Refund Transfer program to qualify. All discount programs offered through Santa Barbara Tax Products Group are excluded from this program. Advances provided by Green Dot Bank, Member FDIC. Check with transmitter for availability.
2 Must opt-in by February 18 to qualify. Advance is subject to approval. Must be enrolled in Standard Refund Transfer program to qualify; all discount programs offered through Santa Barbara Tax Products Group are excluded from this program. Advances provided by Green Dot Bank, Member FDIC. Check with transmitter for availability.
3 70% of tax preparation fee advanced upon IRS Accepted Acknowledgment - up to $600 per return. The fee is taken out of the amount advanced to you.