Refundo for $27

[Guest Taxed]

Got an e-mail that i thought was spam (probably is). There is an outfit called Refundo.com that offers tax prep fee collection for a flat $27 and claims to work with any tax prep software?

Anybody heard of them or used them in the past? Pros and cons?

[gianni1212]

i saw them at the IRS conference...no experience with them, but at least if they were at the IRS conference they must be somewhat legitimate, although i must say the name does not sound very professional and i think that says a lot.

[Guest Taxed]

Let's see if I run into them at this years IRS forums? Sounds interesting but I have never used bank products before and if I do next season I don't want a company that has questionable reputation.

[kcjenkins]

You have to make your own call, but when it comes to tax prep fee collection, I would be VERY careful about turning that over to any outside company. It will affect not only that client but possibly others as well, if word of that gets out. IMHO, its sometimes better to write it off, or to offer a client extra time to pay. The thing is, you want to keep the relationship professional, not like an off-the-shelf business. Talking to the client personally will keep you on the high ground. Just my 2 cents worth.

[Guest Taxed]

I only have a handful of clients (inherited from a practice i purchased earlier) who were used to paying the tax prep fee out of their refunds. Since I have not done bank products before I had to wait till they received their refund to get paid (with follow up calls).

If I used a bank product, it would be very limited use with these type of clients only.

I could fire those clients next season but in my small town word spreads like fire (especially at Church and Bingo halls)!

[Jack from Ohio]

I have had great success with FeeCollect through ATX. Pretty seamless. Bank charges $15 I charge 20 to fill out the extra permission forms. Several clients would rather spend an additional $20 than bring their checkbook.

[kcjenkins]

ok, I misunderstood what they were offering. If it is just a way of getting paid at prep time, I'd think the built in process from ATX [or whatever software you use] would be cheaper or just as cheap, And transparent to your clients.