For those of you who use tax $ for trip...

[Muushka]

That's the welfare program called EITC where you get to pay for your neighbor's vacation even if you can't afford to take your own

I was thinking it, you said it.

 

[marie1203]

We have never use that service no matter if our refund was big or small. I don't think we ever will.

 

[4menandalady]

We fall into the get back more than we pay in category 3 kids in daycare and all the kid credits usually makes for a nice refund. DH was also a student so that also plays into it. We will be using our refund for our trip

 

[Inigo]

The "Rapid Refund" scam of theirs was ALWAYS thru them. It was never a government program.

I worked at H&R Block for two weeks. I quit because they wanted me to encourage the rapid refund for those getting large amounts of $ back (Usually through the Earned Income Credit) and I refused to do so. I would explain to people how much of a waste of money it was. I was offended when those getting the EIC took the rapid refund since it was my tax dollars they were wasting since EIC is a sort of welfare.

To me, H&R Block does a great job of doing taxes, but they are a completely unethical company. It's so easy to do taxes, especially using the software you can buy cheaply, that people would have to be crazy to not do their taxes themselves.

 

[momxx5]

All day yesterday, on the a smaller network, they advertised H & R Block rapid refund....calling it an anitipcated refund loan.
So, either its still in effect in some places or they are running old ads.

 

[Tina]

Just an FYI: although I'm no fan of H&R Block, they are not the only ones in the RAL business. I worked for a small mom & pop public accounting firm in the early to mid 90's in Michigan. We also offered the Refund Anticipation Loans back then. We started them the same year as everyone else. As a matter of fact, they were the reason our office bought our first modem! LOL I used to do the data entry for RAL and electronic filing. Back then, the banks took all the fees and we got a few bucks. I think later on, H&R Block got smart and cut out the banks, funding the RAL's themselves. I really see them as no different than those check cashing businesses who charge ridiculous fees to cash checks for those without established credit or bank accounts. They take advantage of desperate people. Only folks desperate for money would give so much of it away to speed up the check. It's actually very sad for those caught up in that sort of situation.

 

[momto2inKC]

All day yesterday, on the a smaller network, they advertised H & R Block rapid refund....calling it an anitipcated refund loan.
So, either its still in effect in some places or they are running old ads.

Yep, i've seen it the past few days on our local channels too.
We do our taxes ourselves and file them online, so our refund usually hits our account in less than 2 weeks. And this years will be paying for our trip to Disney We could adjust our with holdings and get the money weekly, but this works for us.

 

[OrangeCountyCommuter]

Having enough of a refund to take a WDW vacation sounds like poor planning. If you are getting a large refund it means you are giving the government an interest free loan on top of all you have to pay, not a sound financial strategy unless you are such a poor saver that getting it back from the government actually looks like some sort of windfall.

Or you could work for idiots! I do!

They don't seem to understand that I don't live in California. So they withhold California taxes (I have it set at 9 deductions which as high as I can go) I then have to file for a refund every year and it's huge. I have given up getting our useless payroll dept to realize that I am not a California resident!

 

[SoonerSarah]

My husband is a minister and so his taxes are done a little differently. We used to pay in on our taxes, but it was less than $1,000 per year. Since we had our 3rd child DH adjusted it and now we don't pay any taxes in. We get the $3,000 for the child tax credit, and this past year we got something else as well, although I can't remember what it was called now.

 

[LovinPooh]

I went to H&R Blocks website, and they are offering a anticipated loan that will be on the form of a card, check or direct deposit in 8-15days. Could that be the commercial being shown?

Now do employers have til Jan31st to get the W-2s out?

 

[Swimalie]

I just heard on the news that if you itemize and file your federal return electronically through Turbo Tax, they are going to hold on to it for a while before they send it in. I guess they want to make sure the new tax issues are resolved before any returns which are itemized are officially filed.

 

[phamy76]

For the last 5 years, I've tried to balance it so we don't owe, and they don't owe us. I like to break even. But, my work mileage always messed me up and we end up getting a $700 refund.

But, last year, I had less mileage for work, and hubby was unemployed.
We only got $350 back.

I like not getting a refund back, or owing money. It means I have more money in my weekly paycheck, when we need it. And I decide where I put my money and how much interest it earns.

I live and work in PA. And, I have to claim 6 exemptions on my paycheck to break even. Doesn't mean I have to claim 6 on my taxes.

 

[msmayor]

I went to H&R Blocks website, and they are offering a anticipated loan that will be on the form of a card, check or direct deposit in 8-15days. Could that be the commercial being shown?

Now do employers have til Jan31st to get the W-2s out?

Employers have always had until the 31st to distribute W-2's - that hasn't changed.

 

[julirina]

This year, they have changed the adoption tax credit, so we will be getting back everything and then some...actually, more than some - a LOT

hipchickie -- how has the adoption tax credit changed this year? Do you know if it applies to previously completed adoptions with carryover credit?

(add me to the list of ppl who gets a big ol' refund and doesn't mind loaning the gov't my money!)

Thanks!

 

[dhardawa]

There are definitely a lot of tax places doing rapid refund type things. My neighbor works for a company that provides the loans for that. They are crazy busy setting up with tax companies right now. Then, after April 15, they will spend the rest of the year collecting on the bad loans!

I should get quite a chunk back again this year because I'm still drawing off that adoption tax credit!

 

[2Pirates2Princesses]

QUOTE=Purseval;39365926]That's the welfare program called EITC where you get to pay for your neighbor's vacation even if you can't afford to take your own [/QUOTE]

 

[Momoftwins+1]

I used to work in a tax office. The Rapid Refunds are such a ripoff. Why not just be ready to file as early as possible and file electronically? Mine always posts to my checking account in about a week to 10 days.

Exactly! Why pay the company that much just to have money a teenie bit earlier...unless it's a dire emergency ( vacation not being one of those or the newest electronic gadget lol ) also if you are eligible to file a 1040EZ or heck even a pretty straight forward 1040 , why pay more than a filing fee and in most cases you can find a free way to efile and keep all your money instead of paying someone not very well trained to do it...the computer programs walk you right through it, and that's all those open during tax year places do for you...numbers in boxes...
Those anticipation loans should be stopped and the cash n go places should be over regulated because they cause more damage than anything.

 

[Goofy_Disney_Dad]

Are those of us who have children and qualify for the tax credit supposed to not accept the credit? I can't help that my wife and I receive a refund based on our countries tax laws and the fact that it makes me and her some kind of "welfare" recipient is rather harsh. We both have incomes and take care of all of our bills without "welfare". We certainly can't help that when we fill out our tax forms we're given credits for our children.

Some of the comments on here are pretty harsh and shortsighted to say the least...

 

[Marionnette]

Are those of us who have children and qualify for the tax credit supposed to not accept the credit? I can't help that my wife and I receive a refund based on our countries tax laws and the fact that it makes me and her some kind of "welfare" recipient is rather harsh. We both have incomes and take care of all of our bills without "welfare". We certainly can't help that when we fill out our tax forms we're given credits for our children.

Some of the comments on here are pretty harsh and shortsighted to say the least...

I have no problem with tax credits for people who actually PAY taxes. I have a BIG problem with people getting back more than they paid in federal income taxes. Thats not a tax refund. A refund implies that you paid something first and then got part of it back. Its income redistribution from the people who actually pay taxes to the people who pay nothing.

 

[bumbershoot]

Some of the comments on here are pretty harsh and shortsighted to say the least...

Agreed.