this is part of a question that someone else posted up a month ago:
"I filed with HR block on 1/25/07 and did the same day return, I received some money that day and was suppose to receive the rest the next day. But there was an offset for $400 (not for the IRS), so does anyone know about how long it will take for me to receive the rest of my money after they take the $400 out?"
what does that mean?
2007-02-28 03:44:13 · 2 answers · asked by tom l 3 in Business & Finance ➔ Taxes ➔ United States
An Offset is when a persons refund or part of the refund is withheld to payoff a Federal or State Debt.
Back Child Support
Student Loans
Federal Taxes
State Taxes
The IRS is directed by Financial Management Services to withhold the Funds
FMS can be contacted at 1-800-304-3107
2007-02-28 03:52:55 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Rob is correct.
H&R Block uses HSBC Bank for their refund anticipation loans and if you had an outstanding debt they will take that amount before you receive the rest of your funds. If they rejected your application for a loan they will automatically drop to the next option.
2007-02-28 04:02:08 · answer #2 · answered by R Worth 4 · 1⤊ 0⤋