RAL Denials

sockgirl77

sockgirl77

Well-Known Member
Just a FYI to those applying for a RAL this year. If you received a stimulus check mid-year, you will be denied a RAL. Apparently the IRS is rechecking returns this year to verify that the correct stimulus amount was dispursed. IRS, Jackson Hewitt, and Santa Barbara Bank are telling me that some people received too little and are getting what is owed added to their return. If you apply and get denied the RAL you have to wait 2 weeks to get your return, even if it is a direct deposit. So much for e-filing. :frown:
 
sunflower

sunflower

Loving My Life...
sockgirl77 said:
Just a FYI to those applying for a RAL this year. If you received a stimulus check mid-year, you will be denied a RAL. Apparently the IRS is rechecking returns this year to verify that the correct stimulus amount was dispursed. IRS, Jackson Hewitt, and Santa Barbara Bank are telling me that some people received too little and are getting what is owed added to their return. If you apply and get denied the RAL you have to wait 2 weeks to get your return, even if it is a direct deposit. So much for e-filing. :frown:
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Well thats nice to know now.. I was wondering WTF was going on...
 
jrt_ms1995

jrt_ms1995

Well-Known Member
sockgirl77 said:
It makes perfect sense if you need the money now.
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It's like you have a savings account with the IRS, which pays you 0% interest, and now you'll pay Block 15% (or whatever) to get your money back a few days earlier. And as Nucklesack wrote, where's any connection with e-filing? Won't Block e-file for you without your accepting a RAL from them?

Nothing wrong with the RAL if you absolutely have to have the cash now for some emergency; I'm sure it's a much better deal than any of the car-title-loan-shark places. As long as it's your choice and you're not just succumbing to pressure from the tax preparer; they make a killing on these things and prey on the naive or gullible. A few years back, my mother paid Block $50 for a RAL against her $125 refund; and with the charges for preparation and filing included, they took her for a total of $99 out of that $125. Not the brightest thing she's ever done, but she didn't know what she was doing and doesn't stand up well to sales pressure. I've done her taxes every year since (taking about 5 minutes.)
 
Geek

Geek

New Member
jrt_ms1995 said:
It's like you have a savings account with the IRS, which pays you 0% interest, and now you'll pay Block 15% (or whatever) to get your money back a few days earlier. And as Nucklesack wrote, where's any connection with e-filing? Won't Block e-file for you without your accepting a RAL from them?

Nothing wrong with the RAL if you absolutely have to have the cash now for some emergency; I'm sure it's a much better deal than any of the car-title-loan-shark places. As long as it's your choice and you're not just succumbing to pressure from the tax preparer; they make a killing on these things and prey on the naive or gullible. A few years back, my mother paid Block $50 for a RAL against her $125 refund; and with the charges for preparation and filing included, they took her for a total of $99 out of that $125. Not the brightest thing she's ever done, but she didn't know what she was doing and doesn't stand up well to sales pressure. I've done her taxes every year since (taking about 5 minutes.)
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Wow. That is so well put. Doesn't stand up well to sales pressure. I have never thought of it that before.

Some people really do have that as a characteristic.
 
theArtistFormerlyKnownAs

theArtistFormerlyKnownAs

Well-Known Member
Geek said:
Wow. That is so well put. Doesn't stand up well to sales pressure. I have never thought of it that before.

Some people really do have that as a characteristic.
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agreed.
and some folks really know how to take advantage of that...like that asian lady in the perfume/make-up/etc section of Belk....she was an AWESOME saleswoman, and I respected that, even though she was very pushy :lmao: I guarantee that many a woman (or man?) has given into her sales tactics.
 
sockgirl77

sockgirl77

Well-Known Member
jrt_ms1995 said:
It's like you have a savings account with the IRS, which pays you 0% interest, and now you'll pay Block 15% (or whatever) to get your money back a few days earlier. And as Nucklesack wrote, where's any connection with e-filing? Won't Block e-file for you without your accepting a RAL from them?

Nothing wrong with the RAL if you absolutely have to have the cash now for some emergency; I'm sure it's a much better deal than any of the car-title-loan-shark places. As long as it's your choice and you're not just succumbing to pressure from the tax preparer; they make a killing on these things and prey on the naive or gullible. A few years back, my mother paid Block $50 for a RAL against her $125 refund; and with the charges for preparation and filing included, they took her for a total of $99 out of that $125. Not the brightest thing she's ever done, but she didn't know what she was doing and doesn't stand up well to sales pressure. I've done her taxes every year since (taking about 5 minutes.)
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I would have paid $300 (flat fee) to get back a little over $7k. :yay:
 
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