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re: The epidemic of tax-return preparer businesses

Posted on 2/1/16 at 2:48 pm to
Posted by Thib-a-doe Tiger
Member since Nov 2012
35346 posts
Posted on 2/1/16 at 2:48 pm to
I use percentages instead of dollar values when at my job, but instances like you are speaking of, they are incomparable
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56194 posts
Posted on 2/1/16 at 2:49 pm to
Nope. In both instances speed is being purchased.
Posted by baobabtiger
Member since May 2009
4719 posts
Posted on 2/1/16 at 2:49 pm to
There are a lot of fraudulent returns being filed now a days. It's a lot bigger business today.
Posted by Topwater Trout
Red Stick
Member since Oct 2010
67589 posts
Posted on 2/1/16 at 2:50 pm to
quote:

Fedex a letter or USPS a letter first class.


usually because it needs to be there overnight

quote:

No difference


if you have set it up that you get back a big refund (you shouldn't unless you just can't manage your own money and why let the government have that money all year)why spend money to get it faster? just wait a few weeks its bad enough you let uncle sam have it all year.
Posted by Hangover Haven
Metry
Member since Oct 2013
26465 posts
Posted on 2/1/16 at 2:51 pm to
I just love Fast Tax.... I got my "loan check" the same day...



Posted by Topwater Trout
Red Stick
Member since Oct 2010
67589 posts
Posted on 2/1/16 at 2:51 pm to
quote:

Generally speaking these people are poor because they make bad financial choices


I know. I know people that do it
Posted by Thib-a-doe Tiger
Member since Nov 2012
35346 posts
Posted on 2/1/16 at 2:53 pm to
Bingo



With the advance refund, you're not purchasing speed, you are exchanging 2 in the bush for one in the hand.

Purchasing speed would be paying an interest rate on a loan for your full amount, not giving up 30% of it
This post was edited on 2/1/16 at 2:54 pm
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56194 posts
Posted on 2/1/16 at 2:53 pm to
Most of the people being discussed here do not get refunds from with holdings. So they can have zero withheld and still get a huge "refund".

It's $6000 for having 3 kids and not making but $14k a year.
This post was edited on 2/1/16 at 2:55 pm
Posted by Topwater Trout
Red Stick
Member since Oct 2010
67589 posts
Posted on 2/1/16 at 2:56 pm to
quote:

$6000 for having 3 kids and not making but $14k a year.


I hope this is just for arguments sake and not accurate those frickers better not get that much back
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56194 posts
Posted on 2/1/16 at 2:57 pm to
quote:

Purchasing speed would be paying an interest rate on a loan for your full amount, not giving up 30% of it
No. Fedex is a fee for speed, no interest rate is involved there.

It is illegal to charge by a percentage of a refund. Under that scenario, these places would have to pay you if you owed taxes.
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56194 posts
Posted on 2/1/16 at 3:00 pm to
Earned income tax credit this year is $6,242 dollars if you earn $14,000 are single and have three kids.

It's unbelievable.
Posted by Topwater Trout
Red Stick
Member since Oct 2010
67589 posts
Posted on 2/1/16 at 3:03 pm to
quote:

Earned income tax credit this year is $6,242 dollars if you earn $14,000 are single and have three kids.


-so they don't pay taxes on the 14k
-get $6,242 back
-plus all the other welfare that goes along with making 14k...with benefits they must be making 3id 30 range
Posted by torrey225
Member since Mar 2015
1437 posts
Posted on 2/1/16 at 3:17 pm to
I think it is really stupid when my friends use Jackson-Hewitt with SUPER simple tax situations. The forms are VERY straightforward.
Posted by mikrit54
Robeline
Member since Oct 2013
8664 posts
Posted on 2/1/16 at 3:35 pm to
Posted by anc
Member since Nov 2012
18013 posts
Posted on 2/1/16 at 3:40 pm to
quote:

I hope this is just for arguments sake and not accurate those frickers better not get that much back



Its actually more than that that. $6242 EIC + they generally get everything they paid in.

Posted by Royal
God's Country
Member since Apr 2009
1003 posts
Posted on 2/1/16 at 4:05 pm to
quote:

Are they preying on the stupid/uneducated?


FIFY
Posted by toddzilla
Gulf of Mexico
Member since Nov 2012
1587 posts
Posted on 2/1/16 at 4:13 pm to
quote:

-get $6,242 back


....all blown within a couple of weeks.
Posted by Btrtigerfan
Disgruntled employee
Member since Dec 2007
21396 posts
Posted on 2/1/16 at 4:14 pm to
Lil KK

This thread was asking for this to be reposted.
Posted by East Coast Band
Member since Nov 2010
62742 posts
Posted on 2/1/16 at 4:21 pm to
I take it modifying your W-4 to basically get your own money during the year, rather than waiting to get a big arse refund is beyond comprehension.
Posted by CSATiger
The Battlefield
Member since Aug 2010
6220 posts
Posted on 2/1/16 at 5:21 pm to
If they are too stupid to use one of the many free online filing services, too bad
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