h&r block tax services handed out early anticipation loans in nov.2006 and was to be repaid by end of feb2007
2007-10-30 03:01:36 · 4 answers · asked by kimberly p 1 in Business & Finance ➔ Taxes ➔ United States
No, not any more. Even though the interest rates on those loans was sinfully high -- over 2300% APR in many cases -- the bank that offered them, HSBC, lost their shirts due to extensive fraud. On top of the fraud issue were significant delays in getting refunds out especially for taxpayers claiming the EIC as the IRS was delaying them due to questionable claims and outright EIC fraud on the returns. While those loans were due in Feb, many of those folks didn't see their refunds until the middle of the summer. It's highly unlikely that any other bank will risk those loans in the future.
If you get your return in early and opt for direct deposit of your refund into your bank account you should see your refund by late January in most cases. That's the best you'll be able to do.
2007-10-30 03:42:12 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
No, and neither will any of the other tax services. This is a decision made by HSBC bank that offered the loans last year.
2007-10-30 12:41:40 · answer #2 · answered by Gypsy Girl 7 · 0⤊ 0⤋
As of now, No. HSBC, the bank that offered the loan, has discontinued them for Block and Jackson Hewitt.
2007-10-30 10:10:57 · answer #3 · answered by Wayne Z 7 · 2⤊ 0⤋
I called my local office. The answer is no they will not be offering loans this year. However, the lady did mention that they would possibly be offering a "line of credit" sometime in december.
2007-11-02 07:23:32 · answer #4 · answered by cfpoison 1 · 0⤊ 0⤋