Have You Applied for Your EFIN?
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