Frequently Asked Questions

We pride ourselves on our ability to deliver high-quality software solutions that meet our clients' needs. Our team is made up of experienced developers and designers who are dedicated to providing exceptional service and support.

 Backend Fees

Transmitter Fee = $59 - $99

• The tax software chosen charges transmission and technology fees to process electronically filed tax returns that utilize a bank product to facilitate payment of the refund. These fees are automatically charged on every return with a bank application and are paid by the taxpayer out of their refund. 

Service Bureau Fee (Based upon last years volume/funded bank products)

1. 0-50 Prior Year Returns = $55
2. 51-100 Prior Year Returns = $45
3. 101-200 Prior Year Returns = $35
4. 201+ Prior Year Returns = $20

•  A fee charged by the service bureau to the ERO who has purchased their tax software and added to each return in such exchange for software training, marketing assistance, tax education and more. The fee amount is determined by what service bureau and partnering tax prep business agree upon. 

E-File Fee - Set by the ERO 

•  The Electronic Filing Fee can be charged by the ERO on each return as a software utilization fee for the convenience of not having to mail returns.

Non-Bank Product Fee-$50

• The Non-Bank Product Electronic Filing Fee is paid to the software by the ERO as a software utilization fee for the convenience of not having to mail returns. This fee will be invoiced to the ERO (with a choice of weekly according to payouts or at the end of the season in a lump sum) 

Document Preparation Fee-Set by the ERO

•  The Document Preparation Fee is an additional fee the bank allows the ERO to charge for handling and completing bank applications on tax returns prepared in the software. The bank pays this fee directly to the ERO along with the tax return preparation fees.

Bank Fee (if applicable) - $39.95+ based on the bank you choose

•  The Refund Bank Fee is a service fee charged by the selected refund bank to facilitate the process of paying the tax preparer from the taxpayer’s refund deposit. 

Optional Add-ons

1. Audit Protection - $55 TaxSlayer, $60 OLT
2. Defend My ID - $59.95

A bank product in the tax industry is a financial service offered by tax preparers in partnership with banks to help taxpayers receive their refunds conveniently, often without upfront fees.

TYPES OF BANK PRODUCTS:

1. Refund Transfer (RT) – Allows taxpayers to deduct tax prep fees from their refund, which is processed through a temporary bank account before disbursement via direct deposit, check, or prepaid card.
    
2. Refund Advance Loan – A short-term loan based on the expected refund, with no fees if repaid from the refund.
    
3. Prepaid Debit Card – Refunds are loaded onto a prepaid card, ideal for those without a bank account.
   

HOW IT WORKS: 

• The IRS sends the refund to the partner bank, which deducts any fees or loan repayments.
• The remaining refund is sent to the taxpayer via their chosen method.
   

WHO BENEFITS?

• Taxpayers who can’t pay tax prep fees upfront.
• Those without a bank account.
• Individuals seeking faster access to funds through an advance.

Royalty Tax Pro currently offers Tax Slayer Pro and OLT Pro. We are looking to add more in the near future.