I filed my taxes using Taxbrain's software (first time in the 6 yrs I've been filing myself-normanlly use Turbotax). I thought to myself this is a reputable company, Ive seen them around for years, so this should be safe and secure. I filed my return, signed a consent form and agreed to have my return transmitted to the IRS using Taxbrain's software. Please follow me carefully because from this point every little detail is extremely important. The consent form that I signed gives Taxbrain permission to electronically transmit my return to the IRS and upon acceptance the IRS is than instructed to disburse funds (ACH) into Santa Barabara Bank Tax Group's Acct., they deduct filing cost fees, their fee and than they (SBBTG) are instructed to direct deposit (ACH) the remaining income tax refund into your account that was originally supplied during the tax filing process. This all seems very complicated but this the common practice for many electronic payments that occurs in the everyday financial world.
Ok, back to explaining. I was instructed by the IRS via their website (Where's My Refund) that my deposit was due to be direct deposited into my account on 01/29, however, later confirmation with SBBTG via their website (Where's My Refund) that my direct deposit was not received as previous expected and that I could check by in about 7 days because the IRS typically direct deposits on Fridays and since my wasnt disburse on the projected date it would be their the following Friday. Im very skeptical of most companies so instantly began my chain of calls. I contacted the IRS first and was advised by a very informative rep that my return had indeed been deposited but there wasnt anything they could do to trace the direct deposit until 02/03. I than called SBBTG back and explained to them what the rep informed me and was told that they were still processing my returns and that it should be in my account no later than the end of the day or perhaps the next morning. I than contacted a my trusty BFF who had also filed using "ole' reliable Taxbrain" and hadnt received her refund as of yet and she as well began making the calls.
After she made several calls to the IRS and SBBTG she was later informed by SBBTG that Taxbrain used the routing number and account number for Republic Bank instead of SBBTG (previously SBBTG worked with Republic Bank but they are now with Meta Bank) and we the consumer would need to call the IRS and confirmed the routing number and account number that was used to verify. Yes, apparently, we are to carry out daily responsibilites with our company and theirs as well. Ok back to the mission at hand. I called the IRS to confirm this and was instructed by yet another very informative rep that the routing number that I provided to him (which was left on my copy of my return) was indeed the routing number for SBBTG but the routing number transmitted to the IRS by Taxbrain is the routing number for Republic Bank and the IRS rep gave me a number to contact them directly. After contacting them I was fortunate enough to get in contact with yet another informative rep who later transferred my call to a Manager or Team Leader was very polite, courteous and patient.
Now this is where the fraud comes in. This Manager informed that she had been receiving thousands of calls concerning what occured. She went on to say that somehow Taxbrain used their bank information to have deposits transmitted to them from the Federal Reserve Bank and that it hit their system as ghost accounts. Nothing was transmitted to them but Social Security Numbers and refund amounts and that was all and that it was their intention to return this money to the Federal Reserve Bank because they are unaware why they are receiving these funds. She went on to say that they do not have have an agreement, partnership nor have they ever done business with Taxbrain. I explained to the Manager with Republic Bank that my return was instructed to be deposited with SBBTG and that it was my understanding that Republic Bank and SBBTG were once partnered in this tax return money making pyramid. The Manager went on to tell me that they only involvement these two banks have with each other is for the purpose of cross collection. I knew the minute she told me that that this scheme was beyond my scope of tolerance. Why would a company agree to cross collect with any company if there wasnt a huge monetary gain. (Im a retard). So now its obvious that there is a partnership here amongst Taxbrain, SBBTG and Republic Bank that has been financially severed and the ones suffering for this massive mistake is the taxpayer. However, this has affected taxpayers who used Taxbrain and TaxAct as well.
I couldnt began to explain my level of amazement that this has occured with government money using the process of money wiring threw the Federal Reserve Bank by established companies with the BBB and not one company has attempted to use the format of media to reach out to the many consumers who's lives have been impacted to explain the confusion. Or perhaps to ask for accountability from a company to reassure and reaffirm their faith and trust in the tax filing process. Were are not talking about software gone wrong or defective what we are talking about is software in which you submit your most sensitive information being trasmitted and relinquished to a bank with our consent or knowledge and that is what is unexcusable, irreconcilable and reckless. The fact that my return is being delayed by weeks and is now being trusted to the USPS carrier who cant seem to deliver my mail to me and my neighbors three blocks away have been proven to be more effective since most of mail goes to them and they just do a weekly drop but now my information is floating minus my consent...
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