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24 sie 2017 · In this paper, I use a unique data set to evaluate the impact of paid preparers and refund anticipation products on Earned Income Tax Credit (EITC) noncompliance. These data are derived from the tax records
28 wrz 2021 · A tax refund anticipation loan (RAL) is a way for a taxpayer to receive their money even more quickly. These loans are provided by third-party companies, not by the U.S. Treasury or the...
Refund anticipation loans are subject to the Truth in Lending Act [Footnote 7], which is intended to help consumers avoid the uninformed use of credit through meaningful disclosure of credit terms by lenders and to protect consumers against inaccurate and unfair credit practices.
IRS RESPONSE TO RECOMMENDATION: Even though the IRS is neither involved in offering, nor responsible for, RALs, RACs, and similar tax refund-related products, we do provide taxpayers with important information on RALs and RACs on IRS.gov, at https://www.irs.gov/e-file-providers/taxrefund-related-products. In particular, the webpage lays out the ...
27 gru 2010 · HSBC (HBC) and H&R Block (HRB) had a dispute over "refund anticipation loans" that has now been resolved by the Treasury Department's Office of the Comptroller of the Currency, which regulates...
Refund anticipation loans (RALs) are one to two week loans made by banks, facilitated by tax preparers, and secured by the taxpayer’s expected tax refund. RALs can carry triple digit APRs, and expose taxpayers to the risks of unpaid debt if their refunds do not arrive as expected.
National banks must implement appropriate policies, procedures, and controls to address and ensure compliance with the following standards. A RAL is a short-term loan made in anticipation of a customer’s income tax refund being approved and paid by the IRS or state tax authority.
