Here’s how the Advance Funding Option works:
When you select the "Advance Funding" option, you'll first print and sign your documents. Then, mail them to the IRS via certified mail. After mailing, simply upload a picture of the receipt with tracking information to your customer portal.
SETC Pros and/or the bank will track when the IRS receives your documents. Once confirmed, we’ll process your advance funding request. Within 3 to 5 days of the IRS receiving your filing, you’ll receive your refund by direct deposit, minus our 20% processing fee and the 10.5% bank advance fee.
Since the IRS pays interest on the SETC claim, in most cases, the interest you receive from the IRS will cover the cost of the advance funding fee.