|
Refund-Based Financial Products Available:
The different ways taxpayers may choose to receive
their refunds are:
Refund Anticipation
Loan (RAL):
Allows the taxpayer to pick up a refund check
from our office in a matter of days if not hours. The refund check
is a loan in advance of the anticipated refund. The IRS will deposit
the actual refund in an account in the name of the taxpayer at the
participating bank, thus paying off the loan and closing the account.
Tax preparation and filing fees are deducted from the refund check
and are automatically deposited into your bank account, thereby
reducing collection effects.
Electronic Refund Check
(ERC):
Allows the taxpayer to pick up a refund check
from our office in 7 - 21 days.. We are authorized by the participating
bank to print the refund check when the bank receives the deposit
of the actual refund from the IRS. Tax preparation and filing fees
are deducted from the refund check. Since the ERC is not a loan
it is less expensive than a RAL. The bank also does offer an Electronic
Refund Check (ERC) which transfers the refund, minus any fees, directly
into the taxpayer's personal bank account. This is good for our
out of state clients who have their tax refund deposited into their
bank account, and pay our fees at the same time.
Tier II Check:
Allows the taxpayer to pick up a second refund
check when the total refund amount is greater than the initial check
limit set by our participating bank. Tier II checks can be generated
through either RAL or ERC requests. If the taxpayer receives a RAL
for less than the total refund amount, the remainder will be paid
through a Tier II check.
Fees:
The fees that we charge are lower then most
tax preparation firms; the fee is based upon the type of RAL or
ERC that you are requesting. All bank fees are set by the bank and
we have no control over their fee structure, it is based upon the
maximum loan amount you are requesting in your RAL application.
Where by the PERC is a flat rate amount that we charge, to include
all fees regardless what your refund amount.
If you have additional questions, please
contact us.
is.
|
