On occasion, people will ask me if they can pay their tax return fees as a deduction from their refund – the answer is yes.
There are a few methods:
Direct deposit refund transfer – using this method, we can direct deposit your refund, and deduct tax preparation fees from your refund. Additional fees do apply.
Check refund transfer – again, tax preparation fees can be deducted from your refund, and I can print a check at my office as soon as the IRS deposits your refund.
Some people, though, do not have bank accounts, or for some reason, choose not to have their refunds direct deposited. For those people, we are now able to have their refunds deposited onto an American Express debit card – American Express does not charge a setup fee, their only fee is a $1 per month charge. The cards are reloadable, and offer free cash withdrawals at MoneyPass ATMs. Again, with this method, all tax preparation fees can be deducted from your refund.
Let me know if I can help you this tax season.
– Ian Harper, CPA