Friday, December 19, 2014
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Lost & Found

If you are missing a pet in Floresville, be sure to check the Floresville holding facility. Animals are only kept for 3 days. Contact Las Lomas K-9 Rescue, 830-581-8041.
Lost: Black manx cat (no tail), neutered male, medium build, shy, answers to Bear. Reward! 210-635-7560.
Lost: Pit Bull, red/white female, off 319 and Hidden Deer in La Vernia, no collar, sores on front legs from allergies. 210-310-4458.
More Lost & Found ads ›

Help Wanted

Floresville area, looking for delivery drivers, stockers, etc.; must have good driving record, no CDL required, must be able to back up trailers using side mirrors only, able to lift and carry 40 lbs., must have dependable transportation and cell phone, sometimes willing to work 10 or more hours, two days off per week, but willing to work if asked. Call 210-723-6939.
Free line ads! Pay for 3 weeks when you place your ad and receive one week free. $8 for 20 words or less, 10¢ each add'l word. Credit card or electronic check processing. 830-216-4519.
More Help Wanted ads ›

Featured Videos





Video Vault ›

Scam Central


What to Expect with Tax Refund Anticipation Loans (RALs) in 2011




E-Mail this Story to a Friend
Print this Story
January 20, 2011 | 3,538 views | Post a comment

BBB Explains Higher Risk and Cost of RALs

Austin, TX -- With tax season just around the corner, many Americans are looking forward to the expected refunds from their 2010 federal income taxes. Many people may also consider applying for a refund anticipation loan (RAL) to speed up the process of receiving the refunds that they expect. BBB http://bbb.org suggests consumers review how a recent change implemented by the IRS will impact RALs this year.

RALs are loans based on a taxpayer’s anticipated refund and they are currently offered by tax preparation companies such as H&R Block and Jackson Hewitt. Until this year, in support of RAL lending, the IRS would notify tax preparers about whether their clients had any debts that might offset the anticipated refunds. If no debt was indicated, the tax preparation company issued a RAL accordingly. However, in effort to encourage taxpayers to file their taxes electronically and set up direct deposit accounts instead of RALs, the IRS will no longer provide tax preparers with the debt indicator notification in 2011 and beyond.

The National Consumer Law Center http://www.nclc.org (NCLC) emphasizes that without the debt indication, RALs will be increasingly risky and expensive, as they won’t be estimated with as much clarity about the taxpayer’s expected refund amount. BBB advises consumers preparing for tax return season this year to consider using free alternatives, such as e-filing and non-profit tax counseling centers, to avoid the risk of having a loan with high interest rates.

For those interested in obtaining an RAL this year, BBB advises consumers to review the following checklist of what to expect:

· High Interest Rates. In 2009 the IRS cited a statistic from the General Accountability Office stating that the interest rates and fees for RALs vary widely, ranging from 36 percent to over 500 percent.

· Administration Fees. In addition to the interest rates on RALs, tax preparers can add on fees for administering the loans and these fees can range from $25 to several hundred dollars.

· Obligation for Full Repayment of the Loan. Even if the refund amount is less than the loan issued based on the anticipated estimates, consumers will be held responsible for paying the full amount of the loan in the timeframe agreed upon in the lending contract.

As consumers look to hire tax preparation companies, BBB offers the following tips:

· Check credentials ahead of time. It is very important to take the time to research tax preparation services well in advance to confirm all credentials. Keep in mind that only attorneys, certified public accountants (CPAs) and federally authorized tax practitioners may represent taxpayers before the IRS. It is also beneficial to find out if the preparer is affiliated with a professional organization that holds its members to a code of ethics.

· Don’t fall for the promise of a big refund. Be wary of any tax preparation service that promises larger refunds than the competition and avoid any tax preparers who base their fee on a percentage of the refund.

· Ask around. Get referrals from friends and family on who they use and then check the BBB Business Review on each tax preparation business at www.bbb.org http://www.bbb.org .

· Read the contract carefully in advance. Read tax preparation service contracts closely to verify the cost of services ahead of time. Also, be sure to confirm how the cost will be affected if preparation is more complicated or time consuming than expected. Additionally, be sure to find out whether or not the tax preparer will represent you in the case of an IRS audit.

· Think long term. Many tax preparation services only operate for the months leading up to April 18th. In case the IRS finds errors or in the case of an audit, consumers will need to contact the tax preparer in the future. Be sure to get your representative’s year-round contact information in case you have any questions or concerns.
To check the reliability of a company http://www.bbb.org , visit BBB.

About Better Business Bureau:
BBB's mission is to be the leader in advancing marketplace trust. BBB accomplishes this mission by creating a community of trustworthy businesses, setting standards for marketplace trust, encouraging and supporting best practices, celebrating marketplace role models and denouncing substandard marketplace behavior.

Businesses that earn BBB Accreditation contractually agree and adhere to the organization's high standards of ethical business behavior. BBB is the preeminent resource to turn to for objective, unbiased information on businesses and charities.

Contact BBB serving Central, Coastal and Southwest Texas at (512) 445-4748.
 


Your Opinions and Comments

Be the first to comment on this story!

You must be logged in to post comments:



Other Scam Central

Scam Central side bar header
Heavenly Touch homeBlue Moon Karaoke & DJAllstate & McBride RealtyEast Central Driving SchoolVoncille Bielefeld homeChester WilsonTriple R DC Experts

  Copyright © 2007-2014 Wilson County News. All rights reserved. Web development by Drewa Designs.