What does tpg products sbtpg LLC mean [Expert Advice]

Last updated : Sept 17, 2022

Why did I get a deposit from TPG Products Sbtpg LLC?

Santa Barbara Tax Products Group is used to process your refund when you elect to have your tax preparation fees deducted from your refund. Therefore, your review page is showing a Direct Deposit to them.

Why does my tax refund say TPG Products?

Both women filed their taxes through Turbo Tax and thought they would get their tax refunds by check. Instead, their money was deposited in Santa Barbara Tax Product Group also known as TPG, which is the bank that processes refunds when you choose to have your tax preparation fees deducted.

What do TPG Products Sbtpg LLC mean?

What do TAX PRODUCTS PE4 SBTPG LLC means? Santa Barbara Tax Products Group-they are the company that processes the refund whenever you choose to have your TurboTax fees deducted from your federal. The refund is sent to them, the fees are deducted, and then the remainder is sent to your bank. 5.

Is TPG Products my federal tax refund?

TPG (or SBTPG) is Santa Barbara Tax Products Group, which is an intermediary company that initially receives one's Federal refund if one chose to pay any TurboTax fees out of a Federal refund.

How do I get my refund from TPG Products?

Taxpayers can now log on to taxpayer.sbtpg.com to view the details of their refund disbursement processed by TPG. Details available include refund information and any fees that were withheld from the refund prior to the check issuance or refund processing.

Why did I get a deposit from tax products?

That deposit description is for users who chose to pay their fees out of the Federal refund, and that payment method does require direct deposit. You said you "didn't pay for anything."

How long does TPG hold your refund?

TPG does not hold your money. When a deposit is received from the IRS, your money is processed as soon as it received and typically issued within 24 hours of receipt. If you selected direct deposit, it may take 1-2 business days to reach your bank account.

How do I find out why my tax refund was reduced?

Typically the IRS will mail you out a notice if your tax refund is different from the amount you claimed on your tax return. The notice will include information on the refund you were eligible for, the amount your tax refund was reduced by, what agency the money was sent to, and contact information for that agency.

Why did I only get part of my tax refund?

Why is my refund different than the amount on the tax return I filed? All or part of your refund may have been used (offset) to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal nontax debts, such as student loans.

Does SBTPG hold funds?

"TPG does not hold your money. When a deposit is received from the IRS, your money is processed as soon as it received and typically issued within 24 hours of receipt. If you selected direct deposit, it may take 1-2 business days to reach your bank account.

Does TurboTax take money from your refund?

We offer the option to deduct your TurboTax fees from your federal (not state) refund. This option is called Pay With My Refund (also known as Refund Processing Service). To qualify for this payment option: Your federal refund must be sufficient to cover your TurboTax fees.

Does TurboTax use SBTPG?

Santa Barbara Tax Products Group, LLC (SBTPG) is the bank that handles the Refund Processing Service when you choose to have your TurboTax fees deducted from your refund.

How long does it take to get a check from TPG Products?

The average days it takes is 23. So don't give them more money and file the form they ask you to file to reissue the check.

Is taxpayer SBTPG legit?

To answer your first question, yes, Santa Barbara Tax Products Group (SBTPG) is a legitimate Financial Services Company which operates as a subsidiary of the Green Dot Corporation. TurboTax uses their services whenever customers opt to deduct their fee's from their refund (RPS).

Why is my tax refund pending in my bank account?

If you paid any fees out of your Federal refund, the funds go first from the IRS to a temporary account at an intermediary bank where the fees are subtracted.

Why is my TPG refund so low?

If your refund was less than you expected, it may have been reduced by the IRS or a Financial Management Service (FMS) to pay past-due child support, federal agency nontax debts, state income tax obligations, or unemployment compensation debts owed to a state.

Why did I receive half of my tax refund 2022?

In most cases, the IRS takes part of your refund to pay for outstanding government debts you might owe. These include: Overdue federal tax debts. Past-due child support.

Why did I get a second tax refund 2022?

Many Americans may receive an extra refund this fall from the Internal Revenue Service. Those who were assessed a late penalty on their 2019 or 2020 tax returns will receive an automatic refund if they have paid those fees, or a credit if they filed and haven't yet paid, the agency said.

Is there another stimulus check coming in 2022?

A second rebate was approved in August 2022 to grant another $200 per taxpayer. Most taxpayers will receive their refunds by direct deposit and the second payments started rolling out in late August. If you changed banks or don't have direct deposit information on file, you'll receive a paper check.

What time does SBTG deposit?

Does Sbtpg deposit early? SBTPG will show our money received tomorrow morning and will send it to our banks sometime that morning. If you have a prepaid card or a bank that releases your deposit early, you will see your money in your account in the afternoon around 3 or 4pm.

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all right for this video i wanted to cover uh a common comment i'm receiving about tax refunds this year and it's a a question regarding i think i got my tax refund from this company here tpg products sbtpg llc is that my refund who are they what role do they have with this whole thing and so i'm going to try to clarify you know what's going on here and you're also probably noticing that the amount of refund you thought you were going to get is being reduced by some amount okay so if you do see a deposit on your bank statement from this entity that is very likely your tax refund so here's what's going on generally if you file your refund claim on form 1040 electronically you input your own bank deposit information so your bank name account number routing number uh when you get your refund it just goes directly to you okay so that's normally what happens and you'll see a line item on your bank statement from the us treasury so that's pretty straightforward however if you ask turbotax to process your refund and take their fee out of your refund then you go down this this route at the top line item right so if you've asked turbotax to process your return and take their fees out of the refund they send it to a third party intermediary which is responsible for taking the cash deducting the fees and then giving you the difference okay so let's look at an example here so we have john he files his 1040 electronically and he rather than pay upfront or pay in advance or at checkout using a credit card or debit card he just says yeah take the fees out of my refund i'm happy to do that turbo tax agrees so john expects to get three thousand dollars back uh turbo taxes fee is going to be 59.99 and that's going to come out of his federal tax refund so two weeks later john sees the deposit totaling 2 900 dollars in one cent so what happened here well what happened here is the refund was obviously reduced by the um fee that he agreed to pay turbo tax but then there was also a processing fee that came out from the bank now these amounts are likely going to differ from what you have the point is there's as soon as you involve additional parties here they're likely going to charge you a fee so when you see what the amount of refund you thought you were going to get and what you actually received you have to do a little bit of mathematical gymnastics here and look at the records to try to figure out why it was your refund was reduced and it's likely related to these fees so now let's look at example two here where it's vastly different and this has unfortunately happened a lot to a lot of taxpayers this year so john files is 1040. he expects the same refund at three grand the same fee 59.99 now when john gets his wreath on deposit from this tpg products llc he only gets one thousand five hundred dollars and one cent so he went from three three grand down to fifteen hundred what happened well what happened here was john's refund was not only reduced by the turbo tax fee and the bank processing fee but the irs found an error with his tax return so the irs found that on his tax return he tried to claim the 50 of the 1400 uh third stimulus check eip3 he tried to claim that again on his tax return which artificially inflated his refund and so what they did was they disallowed it and the irs kept that money so john's three thousand dollar refund was first reduced by fourteen hundred dollars okay the irs kept that 1400 they didn't give it to him because in their records they've already paid him that third stimulus check so now his refund's been automatically adjusted down to 1600 the 1600 went to tpg and then they took their processing fee they took turbo taxes fee out on behalf of turbo tax and then they gave john the difference so that's why he's only got fifteen hundred dollars in one cent rather than the twenty nine hundred dollars in one cent or or even the three thousand so if you're using turbo tax and you have elected to use this program where you're having them take the money out of your check you're gonna see a refund deposit coming through this platform not the us treasury and if the amounts differ it could be for one of various reasons right the turbo tax fees the bank processing fees irs just flat out adjusts your tax refund because they disagree with what you report on your return so a lot of different pieces here unfortunately you do have to do a bit of digging and try to figure out what happened but the irs when they make adjustments they are supposed to mail you a letter explaining the changes so you might not get it immediately but eventually you will get it and um you know whatever changes they've outlined there obviously review it make sure they're accurate because the irs does make mistakes they make a lot of mistakes so you want to make sure that whatever changes they are making on your return are legitimate all right so that covers it for this video i hope that was helpful if you have any questions uh feel free to leave me a comment below happy to answer and i can and i look forward to seeing you again on the next video thank you

Thanks for your comment Martha Baldivia, have a nice day.
- Joannie Luxmore, Staff Member

hey guys welcome to my youtube channel it could be that you already received a deposit from so called tpg products as bdbglc if you're wondering what sbdbg is it's actually a company that possesses tax returns and helps people to receive tax refunds it actually might be that you didn't file your tax returns through sbtpg.com website but you still got direct deposit from this company it's okay because turbotax actually is the partner of sbtpglc and that's why people actually receive tax refunds earlier so there is no complicated method of receiving tax refunds advancement just use turbotax as usual and you'll be receiving money much earlier anyways i hope that this information will help some of you and that he also received the tax refund recently thank you so much for your attention and goodbye

Thanks Wayne your participation is very much appreciated
- Joannie Luxmore

About the author

Joannie Luxmore

I've studied acoustical engineering at Stillman College in Tuscaloosa and I am an expert in computational linguistics. I usually feel cheerful. My previous job was commercial fisherman I held this position for 16 years, I love talking about brazilian jiu-jitsu and stand-up paddle boarding. Huge fan of Olivia Wilde I practice field hockey and collect phone cards.