This tax season will be especially turbulent with the new pre-season tax loans and preparing estimates using the new tax law.  Pre-season tax loans, up to $5,000, will be approved as a percentage of the refund and the approval will be based on return criteria (as in the past). However, this year, you will be able to offer the pre-season tax loans as early as January 2nd.  There are no past-production requirements to be able to offer the pre-season tax loans.  The only requirement to offer these pre-season tax loans is that you MUST have an EFIN. That’s it.

If you have not begun the EFIN process, get started immediately. The process can take up to two months or longer depending on when you apply. The longer you wait to apply, the longer it takes.  The background check, alone, takes 45 days.  Time is of the essence if you plan to offer the pre-season tax loans this tax season.  If you’re a Federal Direct partner and need help applying for your EFIN, please do not hesitate to call and ask for help.  (866) 357-2052

Tina Harvey

Recent Posts

Tax Help Phone Numbers for Professional Tax Preparers

Who do professional tax preparers call when they need help? The answer is, like many…

3 months ago

Tax Certifications For Professional Tax Preparers

Tax season is a busy time for everyone involved, but it's especially important for taxpayers…

11 months ago

IRS Shutting Down MeF E-File System on November 18th, 2023: File Your Taxes Early!

The Internal Revenue Service (IRS) will be shutting down its Modernized e-File (MeF) system on…

1 year ago

2024 PTIN Renewals Open

The PTIN portal is officially open for new 2024 PTINs and for PTIN renewals for…

1 year ago

How Do I Get an ITIN?

An Individual Taxpayer Identification Number (ITIN) is a nine-digit number issued by the Internal Revenue…

1 year ago

What is a Tax Purpose for ITINs?

A "tax purpose" for an individual is the reason why they file a tax return…

1 year ago

This website uses cookies.