Taxpayers receive deposits from TPG Products as refunds processed through tax software

Many taxpayers are receiving deposits from TPG Products SBTPG LLC, which processes tax refunds for those who choose to pay tax preparation fees from their refunds. This service is offered through tax software like TurboTax and H&R Block. When taxpayers opt for this pay-by-refund option, the IRS sends the refund to SBTPG first. SBTPG deducts any fees before transferring the remaining amount to the taxpayer's bank account. This can lead to confusion as the deposit may come from a company that taxpayers do not recognize. To avoid these fees, taxpayers can pay their tax preparation costs upfront. This way, they will know the exact refund amount without any deductions. The deadline to file federal income tax returns is April 15, 2025.