Tax Refunds??

NOOO! RUN FAST...RUN AWAY...DO NOT FALL FOR THIS!!

This is a BAD idea...your W-2 may vary from what your last paystub states....and this "loan" from H&R Block amounts to nothing more than a glorified payday loan!

PLEASE do not take advantage of this offer. I fear you will regret it in the long run. NEVER allow anyone to do your taxes based on your last paystub!

There was a thread the other day about early tax refunds. If you can hold out a little longer, you'll get your whole refund, not have to pay fees for getting it early. Sue is right. It's nothing more than a glorified payday loan. It's really not worth it. Please think twice about it.

Tommrow is 1/1/07, I think we can all wait 30 days to get our w-2's and then do the tazes. Any debt we have can wait another 30 days. Please evereyone do not fall for these so called quick refunds. DID you all know that on the IRS website E-File that you can file quickly and rapidly for free. The program woks like many of these money mgmt programs.

Sorry for my panicky sounding response :oops: - I just don't want to see anyone fall into this trap. I know so many people that have been taken by H&R Block's "anticipated refund" scheme - they go in, file their taxes with H&R, get their RAL (refund anticipation loan), then find out that H&R screwed up their taxes, and they have to not only pay back the amount of their refund, but even more, because of the error made by the tax preparer.

Thanks - maybe I'll just borrow from a family member
until I can get taxes done on my own.

tcs - that's a much better idea. Sorry if we jumped all over this topic, but we have all been through the payday loan circle (which is basically all this is), and we hate to see anyone else fall into it, if we can possibly prevent it.

You can file your income tax free online electronically and have your money quicker (the soonest I had mine was a week) then going to a tax place AND you will save yourself a ton of money. Why pay someone else to do it and take all that hard earned money.

I file my taxes at taxactonline.

Tcs, this is a much better choice. And Splendid is right. They have free electronic filing, and it's pretty easy. You just answer the questions, and the amounts are figured out for you. I've used it the last two years and wouldn't do it any other way.

Suebee, it has been a loooong time ago when I filed an anticipated refund with H&R Block last year I was sent papers from a law firm where H&R Block had to settle a class action lawsuite for these refunds. My take was a whopping $13 and some change! Not much for being taken for hundreds of dollars. That was the one and only time I ever did that, I was going through my divorce and needed the money yesterday. Since I have been going through the irs.gov site and doing them myself for free through TaxAct.

Amazing how they get away with paying the clients back such small amounts when they lost so much more, isn't it.

I used a small-time tax preparer years ago, and they screwed up my taxes twice. The second time, I went back to them and pointed out the mistake. They insisted, over and over that they did the taxes by computer, and the computer didn't make mistakes. I reminded them of the old "GIGO" phrase - "Garbage In, Garbage Out", and that the computer was operated by a PERSON, who in this case, definitely made a mistake. She wasn't happy about it, but she gave me the money to cover the screw up.

I've done my own taxes, and those of family and friends, for over 8 years now. I started out using the standalone software on my computer, but now I use the website. Buying the software was pointless when I could only use it one year anyway, and then it was useless after that. I see they still sell it, but I really think it's silly to buy it when I just end up throwing it away.

H&R Block ripped me off of some big tax deductions which I had no clue about. Major one being my HOUSE! My property taxes, my student loan interest. Instead of the whopping $120 federal refund minus the outrageious fees, I should've gotten back well over $1,000. It was an expensive lesson learned and money lost. I tell people not to waste their time and money with these tax preparer franchises, they are such a rip off.

Oh Steelers, that stinks! I'm so glad you got away from that scenario.

I just go online and do it for free. It's pretty much the same software used by these franchises and they send you alerts before you can submit the return. These programs are great and they are free. They do charge to do your state's tax return, but I just go to my state's website where they will let the citizen file their state returns online for free and get your refund direct deposited within 5-10 days. Same deal as with federal returns online, the program computes the numbers for you, you just need to input them.

Steelers, TaxAct is the one I use, too. I've used it for two years now and love it. It's very self explanatory.

I love it also. I like how it will give alerts to help prevent mistakes and it gives you tips on taxes and deductions. Something H&R Block never did with me.
Also, I liked how H&R Block charged me outrageous fees by charging extra for every additional page I needed to file. Rip Off. I can do all the extra pages online for free, so I'm not quite sure how they justify charging customers that amount.

I know what you mean Steelers - I took over doing a friend's taxes last year after she found out H&R wanted to charge her over $300 to do her taxes because of her circumstances.

I was the person who posted the topic in another forum and I have to say that I would highly recommend that you wait until you receive all forms of income before you proceed to file taxes. H&R Blockheads have been messing up with taxes lately and plus you have to pay money for your own money. Unless you absolutely need it, contact a family member or friend for assistance.

glad to see that I'm not the only one that refers to them with that name, Alexandra! LOL :lol:

So if you do them online and do something wrong, it won't work, right?? I am going to try mine online this year, but I am scared that I will do something wrong and mess it all up...

I think it won't let you mess up..I've never done mine online, but I've never heard anything negative about it.

Nat, you'll be surprised how easy it is. Also, if you feel like you're in over your head, it'll let you exit out of it. I promise, you'll love it.

Ok, my only question is about all of the med, ss ,tips and other blocks like that. I don't really understand where all of my numbers are..

I believe the program will walk you through those things and will tell you what block you would find that stuff in.

I have a CPA degree but I still have an accountant go over mine also. I am not up to date as I would like to be. This year a deduction is 60.00 if you are charged federal subcriber charges on your phone bill. I would also say go to a professional. H$R seems to me like its too fast. I wait on mine. I get mine within10 days. KYSIDE38

I would definitely try the online tax return things this year.I did try mine online last yr but never submitted it instead went to my regular tax person.I was curious to see if I came up with the same numbers and low and behold I did so as everyone else is saying it pretty much walks you through it and unless you type a wrong number on it it should be accurate.

Guest you are right. I use TaxAct and it is also up to date with the new tax laws etc.......

Nat - both TaxAct and Turbotax are updated daily with the new tax laws as they come into effect. If a certain portion of your return is not updated with the most recent info, but the company knows it's coming soon, they will not allow you to file that portion of the return until the information is available. It's THAT detailed.

I have never had a mistake come back from the IRS on my taxes - I have used Turbotax for 8 years now, and have never had a problem. The program checks for math errors, possible missed deductions, things that would trigger the IRS to audit your return (and tells you how to correct them), and tells you exactly where to put all the figures from your W-2. It's extremely easy, and I wouldn't do my taxes any other way now.

On Dec. 22 Congress has allowed people to either claim their state/local taxes or their state/local sales tax as a deduction. It was meant to help those living in Florida and Texas who do not pay state/local taxes but it is open to all tax payers in all 50 states. You can take which ever you feel will give you a bigger deduction. I'm sticking with my state/local tax deduction, I don't even know how you would go about figuiring out how much you paid in state/local sales taxes through out the year. I don't save every receipt.

Last year it had an option for them to calculate the sales tax based on an average. I think it gave me like $500, But I could be wrong.

I'm not going to waste my time then. I'm taking the state/local income tax then. Thanks Jessi. I didn't know how that worked.

I could be wrong about the amount...It was a year ago, and I wasn't in the healthiest state of mind..You can try each, because it will let you go back and change it...Take whichever is the better one.

So are you saying that I can get back the taxes that I paid on a pair of jeans?? Or did I misunderstand you??

I think it's a percentage of the sales tax, if I'm not mistaken? I've never taken that deduction, but I think that you would have to keep track of all receipts for the year in some fashion and I admit it, I don't have the time or patience to do that!

That sales tax deduction is only for really large ticket items. TaxAct and Turbotax both have a feature that takes calculates the deduction for you if you don't have large ticket items (like a boat) to claim sales tax for. It will give you the standard deduction for the sales tax unless you ask it to allow you to enter the sales tax you actually paid.

Most people will come out ahead by simply taking the standard deduction.

Yea, I really don't have the time to keep up with all of my receipts. Once the item clears my bank, I throw it away...

I am currently disabled and hate not working. I have a series 7 and series 63 with NASD and I though during this time maybe I can learn about being a tax preparer. It would go with the investment end and Maybe I can freelance until I return to work. BUT, What company? How do I go about it? I know the HR people have a teaching program, but they have such a bad rap.
Frankly screwed up my taxes too and I took it from there. I thought the "Piece of Mind" program for additional cash was too good. I've spent thousands in therapy and still don't have it.

Tax preparers don't make a lot of money and their jobs get insane during the 1st quarter of the year. In the long run, the money they make is not worth the time they put into learning or doing their job.

For investments you would want to look into learning financial planning. If you google financial planning schools, you should find a couple of schools that teach financial planning online or through home study. Financial planners make outrageous amounts of money.

If you are denied a ral what does that mean?

Refund Anticipation Loan, it has been denied for a reason which could be one of many, check with your tax preparer

You will need to contact the IRS to find out why, it is probably because the IRS rejected your return.

No they did not reject my return! They said it was accepted for the 2 week! RT so well get it 2/16/07.

Ok Tasha! It looks like you are going to get it then!

You asked what could be one of the reasons it was denied, so i gave you one scenero

i dont want u to thin i was yelling. I just use exclamations alot