Friday, December 31, 2010

Beware of Federal Refund Anticipation Check

Beware of the Federal Refund Anticipation many tax preparation services promises your money fast and they give you loans against your own money. So how much are you willing to give someone to give you your own money a few days we are talking 8 to 15 days before you would get it from the IRS for free.
Tax preparation average fees - 150.00
Electronic filing fee- 15.00
Loan fees vary but the average is 10% of your loan

This is very much like a pay day loan and it is very expensive way to get your money.
Be smart and file your taxes then E file which you can not due until after January 13th 2011 and put your hard earn money into your own pocket.

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