As an educated consumer you may wonder why people would choose to use a Refund Anticipation Loan when they can e-file and receive their refund in only a few days.
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Last week we wrote about I-Can! E-File, a free electronic filing service for your federal income taxes. It's a great idea, and we're thankful to the Legal Aid Society of Orange County for doing something like this—but you might want to find an alternative this year and give them some time to work out the kinks. Today a reader emailed us to point out that icanefile.org's password system can be easily cracked, because instead of letting you choose an original password, it requires you to use your name and social security number to set up an account.
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Latest by WV.Hillbilly: There's absolutely no reason why the IRS can't make a PDF form standard for e-filing.
Every tax prep package will generate more »
I-CAN! is a web-based tax preparation tool that will file your tax return completely free of charge. I-CAN has no eligibility criteria or income restrictions and will eFile your state return for free if you live in California, Michigan, New York, Pennsylvania or Montana. It almost sounds too good to be true. So why isn't I-CAN! a member of the IRS' Free File Alliance?
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Latest by ex-IRS: BURA posted "ex-IRS: How exactly would implementing a national free-file online system stop those goals from being met? Huh? The more »
Refund anticipation loans are bad enough, but H&R Block and Jackson Hewitt want you to get a RAL, and then put it on a fee-riddled pre-paid debit card. What a great idea!
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The IRS investigation into Jackson Hewitt's malpractices has deepened, NYT reports:
The lawsuits filed against the Sohail-owned or controlled franchises said that employees had been pushed to crank out returns in exchange for bribes, to accept scant or false documents, like W-2 forms, and to falsify taxpayer data to receive the earned-income tax credit, a federal assistance program.
And that's why we like accountants. Not only will a good one help you find deductions, they also know enough to not do stupid stuff. It's you, not the tax form preparer, on the hook if you file a fraudulent return. — BEN POPKEN
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Latest by FreemanB:
@Chicago7:
Actually, she's not working currently, since she's attending law school. She would also recommend things like TurboTax to people more »
We haven't been getting many complaints about tax places this year but as far as we know, they still suck. They're known for messing some people's returns up pretty bad, or encouraging people to take questionable deductions. Like making up a child, for instance. Here's a walk down memory lane, a lane that's definitely shady...
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Latest by Trackback: Avoid Big Name Tax PlacesHow Banks Flag Ordinary Customers as TerroristsIt’s Science: Diets Don’t Work19 Banking Dos and Don’ts more »
The US Government has filed "civil injunction suits against five corporations that operate Jackson Hewitt tax preparation franchises, as well as 24 individuals who manage or work at the franchises." The suits allege that employees at 5 Jackson Hewitt franchisees committed pervasive fraud.
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Latest by IRSistherootofallevil:
Well the US government cheats us out of our retirements (cough cough social security cough cough), good public education, and more »
The number of refund anticipation loans declined 22.5% last year as consumers took advantage of cheaper and only slightly slower alternatives, NYT reports.
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If you haven't done your taxes, don't go to H&R Block or Jackson Hewitt. That's the advice we receive from Peter, a professional accountant. He says they will rip you off. And if they mess up, they're not liable.
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NBC sent an undercover intern to different tax preparers. It looks like the big names in tax prep may charge higher fees, but that's more than made up for by their ability to help you commit tax fraud.
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