REFUND OPTIONS

What is Electronic Filing or E-file?

Simply put your return is sent to the IRS over the computer instead of having to mail it in.

What is the advantage of Electronic Filing or E-file?

1. If there is any information on your return that is incorrect, such as Social Security numbers or names, we can find out in just a few hours and resubmit the return with the correct information.  Instead of waiting weeks or months for the mistake to be found we find out in just a few hours and fix it immediately.

2. You can get your refund back much quicker.

How fast can I get my refund back?

            It may be possible to get your refund back in as fast as 24 hrs.  There two methods for getting your money back. 

NO-COST Refund Methods:

Under these methods you must pay for the tax preparation fees now.

1. Direct Deposit – If you have a checking or savings account we can electronically file your return and the IRS will deposit the money directly into your account, generally within 7-10 days.  There in no charge for this service.

2. Electronic Check – We will electronically file your return and the IRS will send you a check.  You should receive this check within 2-3 week.  There is no charge for this service

FEE BASED Refund Methods:

Under these methods there is no out-of-pocket expense but there is a fee based on the amount of the refund loan.

1. Refund Anticipation Loan or RAL – Under this method we will electronically file your return and then the IRS will either accept or reject the return.  If they accept the return then the bank will process your application and, if approved by the bank, you can get a loan check from them within 24-72 hours.  If the IRS rejects your return then we will correct the problem and re-submit until it is accepted.

From this loan they will deduct their finance charges and our tax preparation fees and we will issue you a check for the difference.  The IRS will then process your return and send your refund to the bank to cover the loan.  If your loan is declined then your refund will be paid by Refund Electronic Check as described in the next section. 

Please note that acceptance by the IRS does not mean they have processed your return and agreed with the refund amount.  If the IRS rejects the return or does not pay the refund for any reason you will still be liable for the loan and will have to repay it.

2. Refund electronic check – This option is available to customers who don’t need money back immediately but would rather have their tax preparation fees taken out of their return or don’t have a bank account for direct deposit.  The bank will set up a direct deposit account and have your refund deposited directly into that account.  As soon as the money is received at the bank we will cut you a check for your refund minus our fees and the bank’s charges.

What is the best way for me to get my refund?

1. If you are in not in a hurry to get the money and you can pay the preparation fees right now the best way is direct deposit or electronic check.

 If you need the money quick or would rather have the tax preparation fees taken from your refund then the RAL or Refund Electronic Check is your best bet.