Each year, a number of U.S. taxpayers around the country get tax refunds even if they build on zero income tax. This is due to deducting calculations and the earned income tax credit. Because withholding is calculated on an annually basis, an individual just entering the work force or unemployed for a long period of time will have more tax than is owed withheld.
For a greater majority, however, tax refunds are simple ‘savings’ – money that the government kept for you that you are now going to get back for use in other things. Many Americans are pleasantly surprised to receive tax refunds each year. Most people use the money to pay off debts, beef up savings accounts, and even go on vacations.
To get your tax refund you have three options. You can either let the government directly deposit your tax refund into your bank account, have a check mailed to you, or apply your refund to next year’s income tax.
Join the millions of people who have discovered how easy, online tax filing can be. The cost will be much less, your tax forms will get to the IRS with no hand-written errors, and you’ll get your tax return in as little as 10 days.
Sadly, the tax prep workers are paid a bonus at the end of the season based on the number of these ‘products’ that they sell. The managers are paid a large bonus based on the number of these products they were able to ‘push’ onto the clients who comes in. The district managers and the owners all make out like bandits because these products are so profit rich. So there is a tremendous amount of pressure on these workers to sell these ‘loans’. (The manager’s end of season cruise is counting on it) There are contests and promotions and as a result of these, I’ve seen normally good people resort to underhanded techniques to get these loans sold.
The tyranny of the urgent will keep these loans available as many of the IQ deficient who fill their homes with pay per week furniture and appliances and use pay check advances to ‘better’ their lives will continue to use these services. However, with a checking account, the turnaround time for a direct deposit tax refund is only about ten days. And many of these people cannot handle a checking account.view more updated blog post from http://www.theindychannel.com/news/call-6-investigators/call-6-carmel-couple-receives-tax-bill-instead-of-tax-refund
Sometimes, the only reason a client chooses this product is that they don’t have the available cash to pay for their tax preparation immediately. And if that is the case then the use of this product is not your only option. Preparing your tax return online has become increasingly popular and costs as little as $50. There is generally no charge for direct deposits and they too, take about ten days to complete.
This is money that is supposed to be coming to you. Don’t let the slick ads dupe you of what is yours. Show a little patience and you can save a lot of money. And if you can get a better handle on your day-to-day finances, then the use of paycheck advances and rent to own furniture will not be necessary.