Comments on: Ask the taxgirl: Refund Anticipation Loan (RAL) Denials and Delays

By: dan

dan — Sat, 28 Jan 2012 06:30:48 +0000

hi i was approved yesterday (thursday and now its saterday. I am getting it deposited in my account but its not there what do i do

By: harry

harry — Mon, 01 Nov 2010 22:18:44 +0000

HSBC bank refused to sponser H&R Bloocks RAL for 2011 tax year there will be no instant checks this year. Block robbs you any way.

By: Carla

Carla — Mon, 16 Aug 2010 21:49:54 +0000

The rules are so complicated (and vast). You need to know the EXACT rule that is the cause of denial for the credit. I hate to say it…but the credit may have been allowed if your daughter/son-in-law had NOT been legally married…but take a look at IRS Notice 2009-12…maybe there is some guidance there regardless? I would approach the IRS directly and have a sit down with them to make sure you can’t recoup some credit….most big cities have a branch at their nearest Federal Building. Good Luck.

By: israel

israel — Sat, 14 Aug 2010 17:38:46 +0000

I cosigned for my married daughter when she got the house this year. Her $8000 first time buyer was denied by IRS, as I filed for my house in 2009. I do not live with her as we are a separate family. The Mtge company told us when we apply for the mtge; because my son in law credit was low, they could use mine instead his as a tool for the purchase. I need guidance on this. Whats the next step…Thank you

By: Kelly

Kelly — Fri, 09 Jul 2010 14:47:31 +0000

TaxNet, Thanks for your comments. Even if there is no interest, you can (and are often) certainly be on the hook for bank and loan fees including origination fees, credit check fees, etc. even if you are denied the loan. It’s kind of like applying for a mortgage – it’s up to the lender. I’ve seen it on multiple occasions.

By: TaxNet Financial

TaxNet Financial — Thu, 08 Jul 2010 15:32:41 +0000

If your RAL was denied you will not be responsible for the loan fees only tax preparation and bank fees (approximately $30) but no loan interest since you were denied the loan. Taxgirl indicated “you are usually liable for the bank and loan fees” but this is not accurate . I agree with all her other comments. Bottom line unless it is an emergency situation don’t bother with RALs. File electronically with IRS and receive your refund in 8-10 days without any bank fees.

By: Lisa

Lisa — Wed, 17 Feb 2010 23:52:39 +0000

If you got it at Block you can call them and get the debt indicator #.

By: Carlalala

Carlalala — Wed, 17 Feb 2010 22:20:13 +0000

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

jamie — Tue, 16 Feb 2010 20:47:15 +0000

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

jamie — Tue, 16 Feb 2010 20:42:47 +0000

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?