Comments on: Ask the taxgirl: Refund Anticipation Loan (RAL) Denials and Delays http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/ Paying taxes is painful... but reading about them shouldn't be. Sun, 21 Mar 2010 15:34:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Lisa http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-2/#comment-14558 Lisa Wed, 17 Feb 2010 23:52:39 +0000 http://www.taxgirl.com/?p=2410#comment-14558 If you got it at Block you can call them and get the debt indicator #. If you got it at Block you can call them and get the debt indicator #.

]]> By: Carlalala http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-2/#comment-14555 Carlalala Wed, 17 Feb 2010 22:20:13 +0000 http://www.taxgirl.com/?p=2410#comment-14555 Jamie: If H&R Block did your taxes then HSBC is the Bank that will approve your RAL. H&R Block should have given you a toll free number to call to verify your status. Call this number, enter your SS# and the year of your birth and an automated answer should be forthcoming. You can also call the H&R Block office that did your taxes and ask them to look up your return status in e-file. They will be able to tell you if: #1. Your return was accepted by the IRS #2. If your RAL was accepted or denied. #3. When to expect the funds on your Emerald Card As long as the IRS accepts your return...and as long as you do not have any offsets by the IRS...and as long as you can pass the credit check...your RAL funds should come through in 3 days at the most. If your RAL is denied them you must wait 8-15 days after IRS acceptance to expect your funds (once again, that is IF you have no other offsets or credit problems.) If you must wait the 8-15 days, you pay no finance fees (because you recvd no loan): That means only your H&R tax prep fees and a $29.95 HSBC bank fee can be withheld from your federal refund. Jamie: If H&R Block did your taxes then HSBC is the Bank that will approve your RAL. H&R Block should have given you a toll free number to call to verify your status. Call this number, enter your SS# and the year of your birth and an automated answer should be forthcoming. You can also call the H&R Block office that did your taxes and ask them to look up your return status in e-file. They will be able to tell you if:
#1. Your return was accepted by the IRS
#2. If your RAL was accepted or denied.
#3. When to expect the funds on your Emerald Card
As long as the IRS accepts your return…and as long as you do not have any offsets by the IRS…and as long as you can pass the credit check…your RAL funds should come through in 3 days at the most. If your RAL is denied them you must wait 8-15 days after IRS acceptance to expect your funds (once again, that is IF you have no other offsets or credit problems.) If you must wait the 8-15 days, you pay no finance fees (because you recvd no loan): That means only your H&R tax prep fees and a $29.95 HSBC bank fee can be withheld from your federal refund.

]]> By: jamie http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-2/#comment-14517 jamie Tue, 16 Feb 2010 20:47:15 +0000 http://www.taxgirl.com/?p=2410#comment-14517 does anyone know how to find out the status of my RAL loan or when i will get it? i am having it direct deposited on my h&rblock emrald card? does anyone know how to find out the status of my RAL loan or when i will get it? i am having it direct deposited on my h&rblock emrald card?

]]> By: jamie http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-2/#comment-14516 jamie Tue, 16 Feb 2010 20:42:47 +0000 http://www.taxgirl.com/?p=2410#comment-14516 how can i find out the status of my RAL loan? is their a number in mississippi to find out if their were any problems or if i was even approved? how can i find out the status of my RAL loan? is their a number in mississippi to find out if their were any problems or if i was even approved?

]]> By: Carla http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-1/#comment-14079 Carla Wed, 03 Feb 2010 23:39:09 +0000 http://www.taxgirl.com/?p=2410#comment-14079 Jennifer...FYI...I wrote you back but my comment was placed at the beginning of this topic insted of in progression...hope it helps! Jennifer…FYI…I wrote you back but my comment was placed at the beginning of this topic insted of in progression…hope it helps!

]]> By: Carla http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-1/#comment-14056 Carla Wed, 03 Feb 2010 08:18:20 +0000 http://www.taxgirl.com/?p=2410#comment-14056 Jennifer...what Lisa says is true about how Rals/Racs essentially work. My gut feeling is that you really don't have any debt issues with HSBC/H&R Block (based on the smooth sailing Fed)...and that the problem is with the state. Here are some things to consider going forward: 1. During the tax prep interview you should have been asked for your consent for H&R Block to discuss any questions about your tax return with the IRS or the State. Call the H&R office and see if a preparer can ascertain from the State what the problem is on their own...OR make an appointment to come into the office so you can make the call TOGETHER (some states just have to HEAR the client give consent before they will disclose any info.) You could also just wait for the letter that you said is forthcoming and take it into the H&R Office. I'm guessing the letter will dispel any myths as to whom the 3rd Party is and why they are making claim to your refund. 2. Please be patient with your tax office. This is their PEAK Season and they tend to get overwhelmed with the volume of clients they have to serve. A walk-in is probably not the way to go...make an appointment or ask if they have a district office which may better serve your needs (If the preparer AND the office manager start to blow you off, though, calmly ask for the District Manager's phone number along with the number to Corporate Headquarters in Kansas City and that WILL get you some attention ;-)....and by all means call the DM if you need to! Remember, your H&R Block Fees cover you throughout the whole year and any advisement you require is part of your investment in the company. I would always go through my tax preparer first before dealing directly with the State or Fed head on. 3. If the state (or whover this mystery entity is) has a legit claim on your funds...then I would ask HSBC if you will still be charged the $13.00 you were to pay to have a state RAC loaded onto an Emerald Card (remember the $13.00 fee is an HSBC Bank Fee/not an H&R Block Fee). If no funds are available to load then they can't get their $13.00...or can they? I don't know...find out. 4. In my opinion I do not think your tax problem was brought about by tax preparer error...but you need to clarify this especially if you purchased Peace Of Mind (the extra $30.00 coverage.) The tax preparer can not be all-knowing but they must perform due diligence and reasonably prepare the tax return with a certain level of expertise as well as be in compliance. If the WAS Tax Preparer error and you purchased Peace Of Mind you may have a claim. Regardless, H&R Block should still offer you every possible assistance in helping you deal with this issue. 5. One last thing...and I don't have to tell you this, but definately get to the bottom of this...if the garnishment is in error, then "woo-hoo"/problem solved/get back your money! But if it IS legit then my question would be: Is it all PAID with the capture of my refund? If the garnishment was, for example, $500.00 and your refund was only $300.00....then they are coming back at you again for the outstanding $200.00 balance next tax season (if you do not otherwise resolve it)...and here we go again! 6. In Ohio we have a 1-800 number that we can call to find out if any offsets are pending BEFORE we file our State taxes (The Fed IRS also has a number for this purpose). BEFORE you file next year: see if your state has one so you can foresee what may be coming...if anything. Good Luck! Jennifer…what Lisa says is true about how Rals/Racs essentially work. My gut feeling is that you really don’t have any debt issues with HSBC/H&R Block (based on the smooth sailing Fed)…and that the problem is with the state. Here are some things to consider going forward:
1. During the tax prep interview you should have been asked for your consent for H&R Block to discuss any questions about your tax return with the IRS or the State. Call the H&R office and see if a preparer can ascertain from the State what the problem is on their own…OR make an appointment to come into the office so you can make the call TOGETHER (some states just have to HEAR the client give consent before they will disclose any info.) You could also just wait for the letter that you said is forthcoming and take it into the H&R Office. I’m guessing the letter will dispel any myths as to whom the 3rd Party is and why they are making claim to your refund.

2. Please be patient with your tax office. This is their PEAK Season and they tend to get overwhelmed with the volume of clients they have to serve. A walk-in is probably not the way to go…make an appointment or ask if they have a district office which may better serve your needs (If the preparer AND the office manager start to blow you off, though, calmly ask for the District Manager’s phone number along with the number to Corporate Headquarters in Kansas City and that WILL get you some attention ;-) ….and by all means call the DM if you need to! Remember, your H&R Block Fees cover you throughout the whole year and any advisement you require is part of your investment in the company. I would always go through my tax preparer first before dealing directly with the State or Fed head on.

3. If the state (or whover this mystery entity is) has a legit claim on your funds…then I would ask HSBC if you will still be charged the $13.00 you were to pay to have a state RAC loaded onto an Emerald Card (remember the $13.00 fee is an HSBC Bank Fee/not an H&R Block Fee). If no funds are available to load then they can’t get their $13.00…or can they? I don’t know…find out.

4. In my opinion I do not think your tax problem was brought about by tax preparer error…but you need to clarify this especially if you purchased Peace Of Mind (the extra $30.00 coverage.) The tax preparer can not be all-knowing but they must perform due diligence and reasonably prepare the tax return with a certain level of expertise as well as be in compliance. If the WAS Tax Preparer error and you purchased Peace Of Mind you may have a claim. Regardless, H&R Block should still offer you every possible assistance in helping you deal with this issue.

5. One last thing…and I don’t have to tell you this, but definately get to the bottom of this…if the garnishment is in error, then “woo-hoo”/problem solved/get back your money! But if it IS legit then my question would be: Is it all PAID with the capture of my refund? If the garnishment was, for example, $500.00 and your refund was only $300.00….then they are coming back at you again for the outstanding $200.00 balance next tax season (if you do not otherwise resolve it)…and here we go again!

6. In Ohio we have a 1-800 number that we can call to find out if any offsets are pending BEFORE we file our State taxes (The Fed IRS also has a number for this purpose). BEFORE you file next year: see if your state has one so you can foresee what may be coming…if anything. Good Luck!

]]> By: Lisa http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-1/#comment-14053 Lisa Wed, 03 Feb 2010 04:19:35 +0000 http://www.taxgirl.com/?p=2410#comment-14053 Jennifer if your state refund is being deposited on your emerald card then yes it will go through HSBC too. You got what is called a State RAC and it takes 8-15 business days for that to be deposited. The only options for the State refund is the RAC, direct deposit to bank account or mailing you a check. The state RAC costs $13 to process and it takes 8-15 business days. so yes HSBC could take that money if you owe them anything just as they can take your Federal refund. So it sounds like you need to call the state to find out why they are taking your refund. Jennifer if your state refund is being deposited on your emerald card then yes it will go through HSBC too. You got what is called a State RAC and it takes 8-15 business days for that to be deposited. The only options for the State refund is the RAC, direct deposit to bank account or mailing you a check. The state RAC costs $13 to process and it takes 8-15 business days. so yes HSBC could take that money if you owe them anything just as they can take your Federal refund. So it sounds like you need to call the state to find out why they are taking your refund.

]]> By: Lisa http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-1/#comment-14052 Lisa Wed, 03 Feb 2010 04:06:42 +0000 http://www.taxgirl.com/?p=2410#comment-14052 yes your tax preparer can explain your fees to you and with H&R they take out all fees out of the first disbursement of money. If you get a classic RAL and are denied that turns into the RAC which takes 8-15 business days. Essentially they are waiting for the IRS to release your money so they can give it to you. Any fees are taken from that. However if you don't receive a refund then you will still owe your tax prep fees to H&R assuming you opted to have them withheld from your refund. However your tax preparer can't explain to the exact reason why your refund was kept by the IRS and/or bank. That is something you will have to either call the bank or irs and talk to them directly about. They won't explain that to anyone except the client themselves. It's good to know that even though I quit my job I can still help people out. My quitting had to do with an office manager and not the actual job which I loved! yes your tax preparer can explain your fees to you and with H&R they take out all fees out of the first disbursement of money. If you get a classic RAL and are denied that turns into the RAC which takes 8-15 business days. Essentially they are waiting for the IRS to release your money so they can give it to you. Any fees are taken from that. However if you don’t receive a refund then you will still owe your tax prep fees to H&R assuming you opted to have them withheld from your refund.

However your tax preparer can’t explain to the exact reason why your refund was kept by the IRS and/or bank. That is something you will have to either call the bank or irs and talk to them directly about. They won’t explain that to anyone except the client themselves.

It’s good to know that even though I quit my job I can still help people out. My quitting had to do with an office manager and not the actual job which I loved!

]]> By: Jennifer http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-1/#comment-14051 Jennifer Wed, 03 Feb 2010 04:03:59 +0000 http://www.taxgirl.com/?p=2410#comment-14051 Carla, I did get the Federal refund (partial same day, balance the next day). Minus the fees for the Holiday Loan, RAL fees, preparation fees. You have that all correct yes. Per Fed IRS website my Federal funds are expected to be released by 2/9 (of course that means being released to HSBC) - I am waiting for my State funds to be deposited to my Emerald Card- State shows as processed/completed, but then proceeds to show 3rd party (garnishment). But I have not received any notification of a pending garnishment (from anybody). No student loans, back child support, or owing anything to state dept of treasury. Do state funds go through the HSBC Deposit account, or do they get transmitted directly to the Emerald Card? Thanks for everybody's input! :D JC Carla, I did get the Federal refund (partial same day, balance the next day). Minus the fees for the Holiday Loan, RAL fees, preparation fees. You have that all correct yes.

Per Fed IRS website my Federal funds are expected to be released by 2/9 (of course that means being released to HSBC) –

I am waiting for my State funds to be deposited to my Emerald Card-

State shows as processed/completed, but then proceeds to show 3rd party (garnishment). But I have not received any notification of a pending garnishment (from anybody). No student loans, back child support, or owing anything to state dept of treasury.

Do state funds go through the HSBC Deposit account, or do they get transmitted directly to the Emerald Card?

Thanks for everybody’s input! :D

JC

]]> By: Carla http://www.taxgirl.com/ask-the-taxgirl-refund-anticipation-loan-ral-denials-and-delays/comment-page-1/#comment-14048 Carla Wed, 03 Feb 2010 03:03:56 +0000 http://www.taxgirl.com/?p=2410#comment-14048 ps>>>my long winded post was in response to Jennifer ;-) ps>>>my long winded post was in response to Jennifer ;-)

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