Real Time Taxes
RealTimeTaxes lets low-to-moderate income earners redirect excess payroll tax withholding into an interest-bearing, accessible account instead of waiting for a large refund. The service provides year-round liquidity, reduces reliance on payday loans, and offers a white-label fintech infrastructure for banks to embed tax withholding tools into their digital products.
- Financial Technology
- Software Only
Funding
Founders
Founder details are not available yet.
Product
Problem
78% of people earning less than $50K overpay their taxes by an average of over $2,000 per year, effectively giving the government an interest-free loan. This same income group often resorts to high-cost payday loans, with an average loan size of $430, creating a cycle of financial strain.
Solution
RealTimeTaxes offers an alternative to overpaying taxes by allowing users to redirect withheld funds into an interest-bearing, accessible account. Instead of waiting for a refund, users maintain control of their money throughout the year, earning interest while keeping funds available for unexpected expenses. The service transforms a tax refund into a flexible financial tool that supports liquidity and reduces reliance on predatory lending. RealTimeTaxes also provides a fintech infrastructure solution that integrates into digital banking products, giving banking customers visibility and control of their income tax withholding throughout the year so April is a planned outcome, not a surprise.
Target Audience
Primary users are low-to-moderate income earners (under $50K annually) who typically receive large tax refunds and may rely on payday loans for short-term cash needs, as well as banks and financial institutions seeking to offer tax withholding tools to their customers.
Features
- Interest-bearing account structure that grows withheld funds over time
- Accessible account design allowing withdrawals when needed, unlike locked-in refunds
- Direct integration with payroll withholding to redirect excess tax payments
- Proactive tax calculator that alerts users to potential underpayment penalties before they become due
- Alternative to payday loans by providing a buffer for cash-flow gaps
- Automated tracking of overpayment amounts to optimize withholding accuracy
- White-label banking framework for financial institutions to embed tax withholding tools into their digital products