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Using H&R Block to Get Tax Refund Loan? Don't Waste Your Money
Tax payers who file their returns in January are seeing what everyone else will confront in coming months: paying exorbitant fees to H&R Block and other tax preparers for processing Refund Anticipation Loans (RALs) is now virtually worthless. Functionally insolvent banks are refusing to lend against tax refunds – even at usury interest rates. H&R Block, a national leader in processing RALs through tax preparation for filers expecting refunds, has been critically scrutinized for years for preying on low income individuals. Yet cash strapped filers saw benefit in paying excessive filing fees in exchange for receiving refunds on the same day, or in 1 or 2 days, instead of several weeks when filing directly with IRS. That minimal benefit is basically gone. The same credit crunch that has seized lending in mortgage, credit card, and commercial loans has hit the tax refund market. Banks are refusing to lend. Tax filers expecting RALs are in for a rude awakening this year. They are finding the RALs are being denied by lending banks only after committing several hundred dollars in tax preparation fees. This year, H&R Block has “tightened” it's loan standards for RALs, an essentially guaranteed loan against tax refunds. H&R Block customers who have received RALs in the past are finding they suddenly do not “qualify” for the loan. They find out only after they consent to have $200 - $300 or more withheld from their refund as payment for tax preparation fees. If filers knew they will not receive an accelerated refund via RAL, they would likely opt to go directly to the IRS to file, and save $200 - $400 in fees. Oddly, H&R Block works with the USA subsidiary of British owned HSBC to process and provide RALs. When HSBC, “the world's local bank,” bought U.S. based Household International in 2003, it became the world's top subprime lender. In addition, HSBC USA is said to have lost up to $1 billion due to making loans to funds that invested with disgraced financier Bernie Madoff. Yet HSBC now decides it cannot lend RALs to H&R Block clients. H&R Block is silent on these developments when customers ask. Tax preparers in H&R Block's downtown Brooklyn office are hard pressed to answer basic questions or provide copies of all filer documents when requested. Both H&R Block and Jackson Hewitt, the nation's second largest processor of RALs, have been subject to class action law suits charging they violated state and federal laws in marketing high-cost RALs mainly to low-income customers. In 2007, Jackson Hewitt, Inc. settled a lawsuit filed by the California Attorney General, agreeing to pay $5 million, including $4 million in consumer restitution. In Jan. 2009, H&R Block Inc. agreed to a $4.85 million settlement that includes $2.45 million in restitution for California consumers. Unscrupulous dealings with tax filers is not limited to H&R Block and Jackson Hewitt. Liberty Tax Services, a tax preparation service with 3 locations in Brooklyn, has found a novel method for placating filers who unknowingly apply for RALs that would ultimately be denied. The Liberty Tax Services office on Fulton Street in downtown Brooklyn gives filers a $50.00 bill in cash upon completion of filing a return. Taking into account the $50.00 bill, Liberty Tax Services fees are even higher than H&R Block. H&R Block CD Tax Cut program
Be careful when loading the software sent to you in the mail by H&R Block. My CD was corrupt and cost me additional $ to fix everything it did on my lap top plus you have no available service number to call (on the packaging) when you encounter a problem. When I reported the problem (after I could finally access the Internet) I was offered a refund to the software but then denied after they saw my e-file went through even though the software still corrupted other applications I use daily. Stay away from the 2008 tax cut.
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This article is so true. I was able to recieve the classic ral last year but for some reason this year i was denied! The best part was that H And R block didn't even try to inform me it was denied, the only reason i knew something was up was because i went to check the status online and the website claimed there was no information on me what so ever. And now the irs has no information about my refund and im scared its lost or something. Wish i read this before I went there and paid $300 to wait 2 weeks for my refund. They really should inform their customers of the new rules.
I think that you are wrong. I work for HR Block in Grand Rapids, MI, and I think that our products and services are great. People want money fast and this is one way to get it. I think you need to look a little further into PayDay advances and those types of companies who are truly ripping people off. They are charged a fee to get money and then they haave to pay it back. With Block you don't have to pay anything back-all you have to do is get your taxes prepared and its your money. HR Block offers a service-they are not doing anything more or less. People are wanting to get their money as fast as they can to pay bills and make sure that they have food on the table. Thank you for this article, I really hope more people see it and are educated about what is happening and save the 2-300.00 to have the taxes filed and any extra fees for the RAL that does not exist. I am very upset and also filed a complaint with the Better Business Burea. I wish I wouldn't have gotten taken advantage of and wish I would have seen your article before I went to Jackson Hewitt. Thank you so much!
first of all if your ral gets denied it dosent cost you any extra then to pay for your taxes being filed. secondly if you are paying 200-400 dollars for your return then you had an awful lot of forms to fill out as the price is by how much work is involved in getting your return done. in other words you pay for how many documents i have to fill out. another thing...people do not understand tax laws nor do they try if you dont like the way h and r block does your taxes learn to fill them out yourself its all available on line and in paper form for free from the irs and any number of other public offices/libraries etc. While it is true that the demographic is aimed at lower income families that does not mean that we are out to screw people. During peak season (mid January-late march) there are so many people waiting in the lobby sometimes i cant even get a lunch break. and you have no idea how many people are just down right irate with you if you have to do normal human functions like use the bathroom. Doing taxes for a living is one of the most stressful jobs you can imagine. People dont want to wait even short amounts of time to get them done. The demand for our service is higher than the supply of workers. We have 5 tax preperation businesses in a town of 20000 and ours is always the busiest. So I guess perhaps its not nearly as bad as you would like to make it seem and im sorry if you want something for nothing...you'll be severly dissapointed in life if you think that way. The point that people are trying to make is that they would not have paid for the tax prepartion fees at H&R block if they knew they would not qualify for a RAL. Lets face it, tax preparation (especially for the majority of people who are seeking RALs) is not that difficult. I'd speculate that many of the people who use your tax preparation services have already prepared their taxes prior to their appointment to determine what their refund will be. I am a poor college student, working on my Masters degree who has marginal to somewhat poor credit. I have taken the RAL in years past due to necessity. I have always prepared my taxes myself to determine if I was receiving enough back to warrant using your service. This, "Paying for a service," that you mention is horsesheeeat. I have taken my prepared tax documents into your establishment (only 25 miles from GR) and was told that it would cost more for me to file what I had prepared through H&R Block than if I were to allow an employee to prepare the return for me. I reluctantly sat through an hour of wasted time as we duplicated that which I had done the evening prior. Can you honestly tell me that people are paying you for your services? If that were the case, you would provide RALs with a processing fee and interested (and still make a killing) without mandating that the client also purchase your most expensive tax preparation services. I didn't need your services, nor do most people that are taking the RAL. Call it what it is. Where did you get your Accounting degree? I suspect you did little more than pass an elementary certification test.
Exactly, Mr H&R Block worker! You need a reality check! Yes we do have access to similar (if not the same) software that you do with TaxCut and rapidtax and so on. But what we do not have is the access to the Same Day or 1-2 Day tax refund option, unless we use services such as yours. This is where the art of taking advantage comes in. And it's funny that you mentioned the Payday Loan places as rape artists, when we all know that many of these Payday Loan places are owned by the same bank that issues the RAL. This is where our money is going. They have hidden under the H&R block name (thanks for letting them ruin your good name H&R block), then we make the mistake of not thoroughly reading through our contracts because we assume trust- by name recognition- that nothing fishy is going on. Only to find that we are signing away our income tax refund checks that are needed now more than ever in these trying times. So for those of you still waiting for your refund and are being given the runaround as I am, be cautious! If you owe any money on payday loans, chances are you owe HSBC bank and they are going to take your refund or whatever part of it you owe to them if you have not filed bankruptcy on them. And there's nothing you can do about it because you more than likely signed permission for them to do so. So yes, of course we would not use your service if we did have access to this one up you have on us! I'm sure you may or may not be aware of these practices and you are just as unethical as they are if you knowingly work for this company and turn a blind eye to the underlying scheme! HR Block is a good place to get your taxes done I've had them done there for the past 5 years. But this year was different. They are ripping people off! I filed my taxes on 2/2/09 and PAID $220.00 for sameday & the rest within 1-2 days service but did not receive the rest within 1-2 days. On monday 2/2/09 I got $900.00 and was to receive the remainder of my refund within 1-2 days, It is 6 days and still no refund because according to the HR block website I was denied the loan now HR block is telling me I have to wait 8-15 days before I get the rest of my refund. On top of that I still have to pay the HIGH fees for a service I was not given! This is BS! Next year I will think twice about filing with HR Block or with anyone who does Instant Rebate! I could of waited 8-15 days and filed for FREE with the IRS! I want my mom back for a service I PAID for and did not receive!
I too was taken for a horrible ride from Block. I even asked our tax preparer since we werent qualified for the instant what the difference was with the 1-2 day. She said she wasnt sure but almost everyone gets the 1-2 day. I said so we will have it in 1-2 days then for sure. She replied with yes. It has now been 5 business days...and nothing. I checked the IRS website and it said our retun was excepted and will have our refund by Feb 17. Doesnt the IRS deposit on fridays? SO does this now mean it will be deposited to our emerald card(hsbc) the bank who denied us however is still getting the check...then distrubuted to me when they feel like it. Im so mad about all of this. Ive done my own taxes for years online with Taxact and never had these BS issues.
Ok I saw your response and had to write to it. My husabnd & I went to H & R Block for our taxes last week. Our return took the lady maybe 15 monutes and she charged us $390! It was the most ridiculous thing I have ever seen. Then I looked over it later & she forgot to put things down that I told her 3 times to do. I will NEVER go there again & I hope people reading this never do either.
Ok I saw your response and had to write to it. My husabnd & I went to H & R Block for our taxes last week. Our return took the lady maybe 15 monutes and she charged us $390! It was the most ridiculous thing I have ever seen. Then I looked over it later & she forgot to put things down that I told her 3 times to do. I will NEVER go there again & I hope people reading this never do either.
i like all the rest of you have been totally riped off by this stupid company as well.i did my taxes on jan.28th and i have to now wait till the 17th i heard the irs deposits on tuesdays and fridays?im not sure of anything anymore i just want my money.so is it the 10th or the 17th or the 13th?thanks so much h r block for taking my 300 dollars for nothing!
i like all the rest of you have been totally riped off by this stupid company as well.i did my taxes on jan.28th and i have to now wait till the 17th i heard the irs deposits on tuesdays and fridays?im not sure of anything anymore i just want my money.so is it the 10th or the 17th or the 13th?thanks so much h r block for taking my 300 dollars for nothing!
i had my taxes done by h&r block on feb 3 2009 i thought i would get the card because it would be quick money. i was aproved the first time in 07 but for some reason not this time. i was never told anything until i called about my money at there office and was told it would be 8-15 days. i cant believe they can get away with that. so they got my money (300) but i still have to wait when it could have been done for free. please if your reading this dont get your taxes done at h&r block!!! i know i will never go back there again
I live in Arkansas and the local H&R Blocks here charge $300 for basic tax prep. with only 2 W-2s. So the amount of paperwork and forms does not always make it cheaper. I know because I paid it last year to get my 1-2 day RAL (which was an additional $50 or so). I do think it helps low income families. We are aware of the cost at the office and can choose yes or no. In my office the fee for basic preparation is what is so high, the RAL fee is about $50 or so. Some people literally wait for months to have a large enough sum of money for repairs, medical expenses, dental work, etc. Those of us who have had to live week to week don't have any left over at other times of the year to take care of things like this. Having the option of not having to wait saved me as a single mom last Feb. This year, however, I am very angry that there has been a huge change that these same low-income families are NOT being made aware of. If they have previously gotten RAL's with no problems in the past, SOMEONE should tell them that they might not this year. They put their trust in this company. And it is not about the amount of the fee. It is about the service people THINK they are paying for. The company should disclose this information. It is not about families not being ABLE to do their own taxes. In most cases, they (we) pay this large fee for the service of getting money sooner, not for the actual service of having someone else prepare our taxes. Anyone who has recieved a RAL from H&R Block in the past is very aware that you don't get something for nothing, I assure you. Its all about disclosure. I didn't feel like HRB was preying on low income families by offering Rapid Refund...that is a choice we make and we are made aware of fees. I DO feel like they are definately preying on these families now. And by not disclosing this information they are absolutely screwing people over. Add to that the ridiculous fees associated with the Emerald Advance card....you find out about those too late too. I have been a loyal customer of H&R Block for 8 years, but I will not be doing business with them again. I feel very lucky that I found out about this before I filed this year.
I havent went in to get my taxes done yet, but I see you people have paid thousands for nothing.....i really want to know this (when do they hit you with the ......oh hey man were gonna deny you getting a RAL...uh you have to call us back and find out when to get bent over again) is that after they file your taxes or do you have the opportunity to bail out??? I am guessing its a trap through and through...........some insight please...need a RAL ASAP!!
May not mean much to most but I'm now wondering the same thing as far as is there a way out. My family is in fact one of those low income families and we just filed with hand r block on Friday I'm hoping that the reason our card doesn't have our funds on has more to do with the Holiday than with loan approval but alas I will probably have to face the fact that it is probably the latter of the two. We would have never done this had we not been so strapped for $ nor did we know that it was a RAL until allpapers were signed and we were on our way out the door.I'm almost certain that there will be no simple resolution once I find we have been denied. Just so others know youre really given very little information, and you are not discouraged of taking this emerald card. We were all ready to sign for direct deposit as always until we were told we would get it all within 2 days we weren't told about maybes and credit checks. I guess we probably fit some sort of profile or something. I just can't imagine myself influencing someone else in such dire circumstances as myself to do something which now seems so stupid especially after seeing what their financial dealings were for the year.To go a little further for anyone that wants to get angry with me yes we are low income but no no food stamps no medicaid no TANF and we pay out child support to a woman who gets all the above for sitting on her butt and still gets taxes back that she never paid in to start with.
You could get a cpa to do your taxes for a lower fee then what H&R Block charges. I understand people wanting to get their money quick but they should check to make sure you qualify for the loan first before charging these crazy fees for tax preperation. A lot of people working at these tax places are just regular people not cpa's. Most people using these services have very simple tax returns. I do taxes for about ten friends and don't charge them. I use taxactonline and it cost $17 to have the money directly deposited into their accounts. Most of the time they get their money within a week.
Well one thing you mentioned in your comment was correct - no the common person, whom doesnt work in accounting doesnt understand tax laws, nor do we want to learn, that is the reason we tax our taxes to H&R Block to have them do them for us- fortunately, for america there are other places to go to have our returns filed- especially from the sounds of your comment, what a great example of H&R Blocks exempliary customer service! Your comment about taking taxes somewhere else, wow.....regardless of how you feel you are representing H&R Block as you do while you are filling in someones info for their taxes- with economy the way it is, i would think you would be grateful to have people coming in and paying for your service, sure didnt sound that way in you comment!
Well one thing you mentioned in your comment was correct - no the common person, whom doesnt work in accounting doesnt understand tax laws, nor do we want to learn, that is the reason we tax our taxes to H&R Block to have them do them for us- fortunately, for america there are other places to go to have our returns filed- especially from the sounds of your comment, what a great example of H&R Blocks exempliary customer service! Your comment about taking taxes somewhere else, wow.....regardless of how you feel you are representing H&R Block as you do while you are filling in someones info for their taxes- with economy the way it is, i would think you would be grateful to have people coming in and paying for your service, sure didnt sound that way in you comment!
This was my first and only year filing with H and R block. The fees are off the meter. When you called the 1-800 after you pay your fees they act like you do not exist and why are you bothering to call. Shame on H and R Block for taking advantage of hardworking people. i was charged $350.00 just to file my taxes at H&R block on Queens Blvd. I think it was to much..
I have heard that HSBC has tightened their standards for lending during 2009 over prior years because of their poor prior management and the billions of dollars in write-offs. HRB has no input into whether or not HSBC Bank approves or denies the loan. This year, what was worse is that HSBC has to comply with new anti-fraud rules by the Federal government and will send your money back to the IRS if they cannot verify your identity!
H & R BLOCK WILL RIP YOU OFF. AND THEIR FEES ARE WAY TOO HIGH. ASK FOR A QOUTE, YOU ARE UNDER NO OBLIGATION TO FILE WITH THEM, EVEN IF THEY PREPARE YOUR FORMS. IF YOU DO NOT LIKE THE PRICE, JUST PICK UP YOUR PAPERS AND INFO AND LEAVE. PLUS THEY SELL YOU ALL KINDS OF EXTRA JUNK LIKE THE CRAP STORES TRY TO SELL YOU, EXTENDED WARRANTY, BLAH, BLAH, BLAH. IF THEY ARE SO GOOD, WHY DO YOU NEED ANY KIND OF GUARANTEE?
H & R BLOCK IS A RIPOFF SCAM OPERATION.
OVER 25% OF PEOPLE THAT GO INTO A H & R bLOCK OFFICE LEAVE WITHOUT PAYING FOR THEIR RIPOFF PRICES AND HAVE SOMEONE ELSE PREPARE THEIR FORMS.
YOU'LL SEE! In actuality the denials of RAL's had nothing to do with the bank per say but from confusion on how to correctly enter stimulus payments received. First instructions were to enter 0's for all returns. Of course this would make it seem as if no stimulus was received and was automatically flagged for review from irs thus the bank could not approve the loan. I know this because I questioned the preparer when she was doing my return and low and behold my RAL got denied. I contacted the bank directly and was told this was the reason.
I am a General Manager for a Liberty Tax Service. Personally, since I am the boss, I advise my tax preparers not to lie to my customers and tell them in advance that it is a loan. I also advise my tax preparers to advise the customer what will happen if the loan is denied. That it will be 8 to 15 days before we receive a check in our office for them. I don't like drama, so my conscious is clear if the loan is denied. I even ask my clients have you ever owed the IRS, had a student loan or do you owe child support, did you get a refund anticipation loan last year, how is your credit. If the loan is denied, their is a processing fee of $35.00 because the bank still has to process your refund so that you can get a check printed in our office instead of waiting for the IRS to mail you a check . We are satisfied to receive a certain amount, for preparing a return. We give our clients breaks all the time on the tax preparation. I can't see myself charging someone $200.00, when all they are going to get back in their refund is $500.00. I don't want anyone coming in my office, acting crazy, because their Refund Anticipation Loan was denied. That's why we tell them up front. If they act crazy after that, it's out of our control. I have loyal customers that come back to my office every year, because I do the best I can and I make sure my preparers do. We dig for deductions, our clients are very satisfied, when they leave out our office. You know, I work for a tax prep company, not H & R Block. At first, I didn't want to do this because the fees are really high for the loans, but I do enjoy doing taxes. Then I realized, no one is making any one get their taxes done here, no one is making anyone pay for the rapid access loan, it's all a choice the consumer makes. You are not charged for the loan if it's not approved and yes, you are charged for the tax prep but that is all laid out up-front. You can at any time before the return is submitted, decide not to have it done and you are not charged (at least at my company) one dime. I have people coming in all the time, they take 2 hours of my time, I work hard getting the best refund possible, and then when they find out what their refund is, they decide not to do it. I am paid nothing for that time. They knew all along that all they wanted to do was see the bottom line. So you see, the problem is 2-way. If you don't want to have your taxes done by a professional, then don't. But don't complain when the choice is and has been yours all along to make.
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Yes, but the only reason we go there to because of the RAL and people should be asamed of taking advantage of people that are just trying to get their money fast. I went to an H&R Block and told them I usually go to Jackson Hewitt but the couldn't do the RAL I have gotten my RAL at Jackson Hewitt for 7 years with no problems so why should I think it should be any different at H&R block but it was I was denied and now I have to pay a hell of a lot in fees that I could of done myself if they were just HONEST with me about their loan procedure but they weren't and know I am thinking about sueing... I would be lying if I said I didn't think it was a rip-off for the same day cash advance from H & R Block, but what else are you to do? Question: What happens if you lose your job in November and your vehicle was reposessed, not to mention the eviction letter you got on your door the first week of January. Getting your money the same day is a blessing. It do cost a little more but at least you will have something. I need my money ASAP, and if I have to pay $200 extra, then I can't miss what I never had. I focus on the amount I'm receiving, not the amount of the refund itself. Dont defend HR Block in their wrong doing they really should inform their customers of the recent lending situation. people go there for a sense of security and to get their money ASAP. if we cant trust them to be honest with us on situations beyond either of our control can how can we trust them with our money prime example: Taking that extra $200 to $300 to get it faster. some of us have to make every penny count and to be honest I think its a shame You can complain about HR block all you want but you really can't say crap about them. Either file with the IRS for free or shut the F*** up. You people choose to go and waste money on their services which you complain about. They didn't tell you to come and file your taxes with them. If you listen to the preparer they tell you based on credit and other factors you might get turned down for the instant refund. I have been filing with HR Block for 10 years now and have never been denied the instant refund. Maybve if you go there every year they might be more likely to give you the refund. Not go only when you need the money. also in these so called trying times maybe you should step outside your bubble and find a different job. Where I live there are always jobs hiring but people think that fast food or other similar jobs are below them. I work a job to pay my bills enough said If I worked a job that I like dto do I wouldn't worked at all. How many people can say they love their job. So it is your own fault why you don't have a job. If americans weren't so greedy maybe businesses would have stayed here. So now the owners left pay employees over seas less and make a killing while you are stuck here crying like a baby and broke who really wins in that situation. The business owners win. The ultimately have the power to say screw america and not do business here since ther eare how many countries out there just like us. Well anyway shut up about not getting any money. The banks have to make some money somewhere if not there wouldn't be any banks then how would you get money. They charge a tax preparation fee which goes to HR Block and a finace charge like every other bank for interest which goes to the bank. They don't over charge you. If you look at it this way by the time the banks and HR Block gets done paying for the greedy employees and their bills like lights and heat then they really don't make a big profit. So they really don't RAPE you, kind of you really RAPE yourself.
I was a loyal customer of H&R Block for over 12 years. I went there because of the instant/1-2 day Ral's. I knew it would be quite expensive. But If you are in need of the money. You do it. Pay those expensive fee's. Okay, fine my choice. But they don't give a damn about loyality. I filed my taxes as usual last 1-19-09. Expecting the usual phone call, come pick up your check within the next couple days. Sometimes, even the same day. Not this time. I found out I was denied and had to wait 8-15 days for my refund. I called the 1-800 number, couldn't even find out why. Called my preparer. Got the same run around. I later found out they were basing the decisions on un-authorized credit checks. I was never told they were checking my credit. I didn't sign anything to this credit check. I vowed I would not use H&R ever again. If they knew people would get turned town because of this. Then shame on them for misleading us and making me pay 300.00 plus for waiting the same amount of time I could have easily done for 50-100. My preparer just called me for my business again this year, I politely declined! H&R Block did not tell my son that he could get up and walk out if the cost was to high They charged him 400.00 to file income tax on 10,050.50 because he workede contract labor and they filed him as a business. He has not Business but they have his 400.00. They took advantage of a kid who did not know any better. I am so mad I am not done with Miss Melanie from Salem Ar. H$ R block It cost 13.45 on the gov. web site They need to be in jail
H&R Block did not tell my son that he could get up and walk out if the cost was to high They charged him 400.00 to file income tax on 10,050.50 because he workede contract labor and they filed him as a business. He has not Business but they have his 400.00. They took advantage of a kid who did not know any better. I am so mad I am not done with Miss Melanie from Salem Ar. H$ R block It cost 13.45 on the gov. web site They need to be in jail
BOO HOOOO... poor me, I can't even get a lunch break while rippong people off... WOE is meeeeee I have done my taxes online with H&R Block for the past 7 years with good results. But i made the bad mistake of going to one of their offices this year. I did it because i just bought a house in December and wanted to make sure i got the new home buyer tax credit done right. I was told i need to file my taxes first and then file an amendment after i received my return. I was also told they would work on my amendment in the mean time. This was all a lie. They dont want to mess with it right now. They say they are swamped and dont have the time. Thats because they already ripped me off for my money, and have other unsuspecting suckers lined up. I was told the forms werent available from the irs yet. Another lie, I have downloaded them and they could do the same. I was charged $185.00 ..... I refused all other attemts to add on charges. People. I could have done this online for $29.95 without any headache !!! I will NEVER EVER set foot in one of their rip off offices again.
I have to agree, this screws anyone walking into a Block office. We have been using them for the past 7 years. We go there because we trust the "experts". So my question is: do we do our own taxes online or is there another company to turn to? My fear is being audited or making a mistake and not being able to turn to someone with the knowledge to help us through it. We are a large family- 7 people. And I make it a point to do my taxes the minute I get my forms in the mail. I count on that money. Any thoughts???
You have five days to change your mind. So if you are denied, you can get your money back, and go to IRS Free File or someone else.
I was denied an RAL this year--Feb 2010 with a 730--plus credit score--of which I faxed a copy to HR Block. The other 2 credit bureau scores were also well above 700. These scores were based on a 50 page report and 30 years of good credit. A year graph in the report showed scores of 748 and 761 and this summer one score was above 800. My over all score was listed as low-risk and excellent. Verizon just ran my credit and approved me for services the week before tax filing. Of course it's the bank's money and they can deny a customer for a loan for a good reason, bad reason or no reason! I would better understand if an HR Block operator said "You were denied because you had to have a score of 830." The banks say it's up to the underwrters and a 7-10 form letter will be sent to you. I asked--" will you send me a copy of my credit report or pay for the one I ran myself the day I was denied?" They said they would not send a copy of the credit reports. Loan officers say its the underwriters and how they calculate your income management compared to someone else's. This is America-- we put a number on everything--just set a cutoff score--and a few ill customers will challenge it--but most will accept it! It all seems to be a convenient way of buying the bank more time to get a hold of your return and get interest on it by saying-" because of privacy laws we cannot reveal information and you will get a form letter in 10 days. " They also say they will reprint the letter for you after 10 days-- if you did not get it or did the bank fail to mail in the first place? But this may be the least of my problems based on online complaints. HSBC may now claim that they do not have my check and it will become a "run around of calls" between the IRS, HR Block, and HSBC to locate my refund for the next 12 weeks. One doesn't believe all online complaints-- but one site has 45 pages of complaints dating from 2010 to 2006 and with 12 law suits: California, West Virginia and Chicargo--there seems to be some issues with these RAL's. It's HSBC right to deny me-- but I do not want my money to go to my account now. By not getting my money in 2-days makes the loan superfluous to me at this point. I am not paying fees to get my money at the regular return time. One online person stated he was charged a phone fee for calling to find out when his refund would be on his HR Block card. HSBC has also been accused of quietly hanging onto the checks to collect interest. Many online complaints speak of HSBC checks that bounced. Will my tax refund check be used to help insolvent "Bernie Madoff with the money" banks? Is HSBC part of AIG? How much did they receive in bailout money--if any-as a British Bank? Also, after all of the Taxpayer money that all of us gave these banks to increase at least a "trickle down" credit expansion--how can one with a 730 plus credit score not get a loan based on a US govt. check at high 32% rates? Did China recall all of their money this week? Basically the customer is "being loaned their own money" and paying fees to use again "their own money." Of course, we all pay banks to use our own money to an extent. There are a certain percentage of customers who this RAL for the first time because of "peace of mind" and with the snow storms it was obvious that the Federal Govt. was going to be closed for a week which even if the IRS is automated may still have slowed-up the returns. I will not return to HR Block again and told them this in e-mails and on a survey. I cannot recommend HR Block to anyone because of their affliation with HSBC banks. Today such "shell games" still exist because suckers are still born every minute and Lord knows I feel like a sucker now." Thanks for the chance to vent! You know very well that it takes approx 9 days to get a refund direct deposited. if people follow the refund cycle. There is no need to pay a high fee for the rapid refund, unless your home is about to taken. I prepare tax returns and I don't provide the rapid refund as an option, it is not needed, if people want it, I gladly send them to H & R Block, thankfully after I explain timeframes, most make the wise choice. Teh fee that is paid, they can by more food.
I have to agree with Angela. My husband and I learned that this year. We usually do the RAL. However we were told it would save us $100 to do the 8-15 day. SO we decided to save a little extra money. However, I checked the irs website and my taxes have been sent to H&R Block already and guess what? We have not received them. This is ridiculous. We paid extra to have them in 8-15 days when we could have gotten them guicker through the mail. My husband and I have been going to H&R Block for 11 years. Guess what they just lost a loyal customer!
HSBC denied my refund and sent it back to the IRS b/c I couldn't verify my identity. They asked me stupid questions about people I didnt even know and I know have to wait 8 weeks for a mailed check from the IRS. This was my first year using HR blockhead and it will be my last! My mother is 73 years old. She has retired from one job and has put in 12 years at HRB. You say HRB is scamming the general public because they do not disclose specific information. I think the general public is wanting to scam HRB. During the first month of Tax season, my mother will log in about 75 to 80 hours a week. That is a lot of work for a 73 year old woman. She climbs out of bed each morning before the sun rises just so she can get a decent meal. She will limit her food and drink intake during the day so she does not have to go to the bathroom during a session and chance pissing off her clients... she is not allowed to be human. Only the greedy, impatiant, over spending, money mismanged, lazy, borderline welfare cases are allowed that luxery. At the end of the day, she is too tired to make another meal so she opts for the fast food route. She eats while she drives home so that she can crawl straight into bed and start all over the next day. Oh and let me just add that she still takes care of my mentally disabled brother because she refuses to put him in a home or allow one of her other three kids to take over the reins and she is single. You call it a scam... I call it a way to secure pay for everything my mother and other tax preparers allow people like you to put them through during this time. Bottom line is this. My mother paid good hard earned money to take courses and learn how to do this crap. She devotes every second of her day to try and fit as many people in as she can at the expenses of her health all to make sure you get your taxes filed. You have some nerve to say... If HRB would have just told us we didn't qualify, we could avoid all those fees for the two hours of their time we just wasted and file on our own. Every single one of you greedy people deserve whatever bad luck you get. I remeber a time when it took six weeks... technology has come a long way, but HRB employees are not miracle workers. They have lives and families to feed just like you and if you waste two hours of their time and then decide not to file... THEY DON'T GET PAID!!! So the way I see it... learn to manage your money, learn to accept what ever work is available rather than living off welfare and unemployment, learn to live within your means and you will find that the desperation you are currently in will no longer exist. Stop blaming honest people and stop expecting something for nothing!
I don't understand why everyone is so mad. I did my taxes via their website. I chose the best of both it was one of the best experiences I have ever had while doing my taxes. I have a fairly complicated return and my fees were under 200.00. That included the program in case I were to be audited. I only had one complaint when you allow them to deduct your fees from your return you have to wait up to 72 hours for HSBC to ACH the money to my account. I was not told that nor did I see it on anything I read. I should have asked but didnt. Maybe I missed it but I dont think so. I needed my money right away and asked upfront if I would qualify for a RAL and was told no because of my type of return. I have also read that if you receive EIC that you will not qualify anymore. With just a little reading mostly the amount of time it took to post this I found the information for myself. I know it is very frustrating not to get your money. Try using an accountant and you would pay much more than you do with Block. I hope this helps.
BullSHIT!!!! These fuckers didn't mention the fee went up 300% until it was all said and done...NEVER AGAIN H&RBlock.
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