Does anyone know if H&R Block takes the fees that you owe them for doing your taxes out of your refund? Do I need to make sure I have money with me...or will they take it out?
2006-12-21 20:24:00 · 5 answers · asked by GreatDivide 1 in Business & Finance ➔ Taxes ➔ United States
H & R Block has different bank options to with hold the tax preparation fees from a refund. There is an extra cost for these. Also, if you owe the IRS, they have an option called an Easy Pay Loan. If you are approved for that, it will also with hold your tax preparation fees. There is an additional fee for this as well.
The most inexpensive way is to pay your tax preparation fees up front. If that is not possible, there are other options.
Hope this helps!
2006-12-22 01:29:00 · answer #1 · answered by D.M. C 2 · 0⤊ 0⤋
If you simply do eFile (direct deposit 8-15days, check in the mail 3-4 weeks) or snail mail (direct deposit 5-7 weeks, check in the mail 6-8 weeks) and wait for IRS to process your paper, then you will have to pay the tax preparation fee immediately.
The other options are Refund Anticipation Check (RAC), Refund Anticipation Loan (RAL) and Instant Refund Anticipation Loan (IRAL) with increasing bank costs, they will deduct your tax preparation fee from your refund.
The Loan products are really expensive. If you can wait a few days for your refund, then stay away from those options.
If you don't want to pay the tax preparation fee up front and can wait a few days to get your refund, my best suggestion is to opt for Refund Anticipation Check (RAC) with Prepaid Master Card as the disbursement option. It will take 8-15 to get your money loaded on the Master Card. The additional fee is $19.95 after a $10 H&R Block refund.
If you can afford to pay the tax preparation fee, then eFile or snail mail are cheapest options.
Regardless your choice for disbursement, go to the H&R Block web site http://www.hrblock.com/taxes/office/pi_form.html?retailCoupon=58691 and download a $25 off coupon before you head to an office for your tax preparation.
Best wishes.
2006-12-23 05:20:49 · answer #2 · answered by JQT 6 · 0⤊ 0⤋
H & R Block will automatically take the fees right out of your refund, if you want them to. You can usually get a discount if you pay up front. Also if you want to get your return by means of " Rapid Refund" the fees are much higher.
2006-12-22 00:28:00 · answer #3 · answered by gina_ufcfan 1 · 0⤊ 0⤋
they will take the fees out of your refund.
2006-12-21 20:27:41 · answer #4 · answered by barb 6 · 0⤊ 1⤋
They will if you get the RAL or RAC ....but if you do paper check, which takes 8-10 weeks...you have to pay up front.
Good Luck!!
2006-12-22 03:37:37 · answer #5 · answered by HarleeNicole 5 · 0⤊ 0⤋