Orlando-based Tax Shop is introducing a service that enables banks, thrifts, and credit unions to offer their customers turnkey tax advice and electronic tax filing.
Called the Annual Tax Checkup, customers drop off their tax returns at branches for electronic tax filings. Returns are then reviewed for errors, additional allowable credits, or deductions. In addition, customers receive a tax summary report covering facts and figures about their tax return.
Tax Shop provides all marketing materials, such as statement staffers and lobby brochures. Each evening, either a CPA or tax preparer collects the returns for their review and filing. The customer fee is $39; up to $10 per tax filing is earned fee income for the financial institution. Services covered for $39 include electronic filing, tax calculation check, tax summary report, customized tax tips, quarterly newsletter, a report from Capitol Hill on legislation that may affect customers, an IRS acknowledgment verifying receipt of the return, a planned payment schedule for customers owing taxes or refund deposits made directly to customers accounts, and suggestions on how customers can adjust their withholdings for the coming year.
Tax Shop is a subsidiary of TenKey Publishing Inc.