Refund and Payment Options
Direct Deposit
– Refund’s in 10-16 days with no additional fees. You are allowed to
have your refund direct deposited in up to three separate bank accounts. We do
not charge additional fees for this option so long as you are paying your tax
preparation fees by cash, check, Visa, MasterCard, or American Express.
Refund Anticipation Loans (RAL)
– You will find our rates to be lower than those of H.R. Block, Jackson
Hewitt, and other larger companies. Refunds are issued in as little as 12 to
48 hours. The new reduced pricing will be a $37.90 Refund
Administration Fee plus a 0.78% finance charge**. Loans of up to $7,500 are
available in 2010. Certified Bank Checks are printed in our office. [Note:
Loans are not available on State refunds nor are they available after April
15th.]
[Note: Our Certified Bank Checks will be
issued by Bank of America, which should make them easier to cash. Bank of
America will charge a $6.00 fee for those without a Bank of America account,
and there is no fee if you have an account. Wal-Mart will also cash checks up
to $5,000 for a flat fee of $6 for checks between $1,000 and $5,000 and only
$3 or 1% for checks less than $1,000. (Not valid in NJ, NY, RI and FL.)]
Electronic Refund Deposit (ERD)
– Have your tax preparation fees deducted from your refund (up to $1,200) and
the balance direct deposited to your bank account. Bank processing fees are
$37.90 for Federal refunds, and $10 for State refunds. Refunds are issued in
8-15 days.
Electronic Refund Check (ERC)
– Have your tax preparation fees deducted from your refund (up to $1,200) and
a check for the balance printed in our office. Bank processing fees are $37.90
for Federal refunds, and $10 for State refunds. Refunds are issued in 7-14
days. This option is only ideal for those who wish to pay for tax preparation
services out of their tax refund, and either do not have a bank account, or
simply prefer to receive a physical check.
Do you owe taxes? – If you owe Federal
or State Taxes you may choose to have your payment debited from your checking
account, or you may make payments by credit card. The companies that handle
credit card processing for the government do charge fees of up to 2.49% for
this service. Scheduling a direct debit from your checking account at the time
the return is filed is the fasted, easiest, and cheapest way (and it’s free).
You also have the option of mailing a check or money order along with the
1040-V Payment Voucher which is printed with your tax return.
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