Don't Waste Your Money: H&R Block loses Refund Anticipation Loan, scrambles for replacement

Jan 24, 2011 Full story: WTOL-TV Toledo 13

There are some big changes this year for many taxpayers who have been going to H&R Block for years as the will not be offering its standard refund loans this year.

Full Story
james columbus ohio

Dublin, OH

#1 Jan 25, 2011
i have been using h&r block for the past 15 yrs and always did a ral i really needed it this year cause i had something bad happen to me now i am goging to loose my home and my job at the same time. i know my friends and i are going to go someplace else next year you can count on that i wouldnt send my enemy to h&r block
Shazzle

Boston, GA

#2 Jan 25, 2011
james columbus ohio wrote:
i have been using h&r block for the past 15 yrs and always did a ral i really needed it this year cause i had something bad happen to me now i am goging to loose my home and my job at the same time. i know my friends and i are going to go someplace else next year you can count on that i wouldnt send my enemy to h&r block
That's so silly James. Why would you do something like that? Block didn't WILLINGLY screw you over. How do you think the company feels, being unable to offer RALs, a major product, this year? Did you not catch the huge finance charges on your RAL for the previous 15 years? Block banks big bucks on giving those out.

Block losing the RAL doens't have a thing to do with them. In fact, I have only been able to locate one tax place within an hour in every direction from me that is offering RAL, and mostly what they're doing is bait-and-switching. They get people in there, make them pay $45 for a background check up front, tell them they don't qualify for a RAL, and then press them to finish their taxes there anyway and wait the standard 8-15 days for returns.

The reason that RAL is so hard to find this year is because the government used to publish the Debt Index and hand it out to banks. It was a list of everybody who owed the gov't money; back taxes, child support, alimony, etc. For some reason they've been forced to protect the privacy of people who don't pay up, so they're not allowed to publish the Debt Index this year to banks. Without it, banks don't know who owes the government money, and they aren't willing to take the risk on people and offer them RALs.

Either way, going completely hostile on a company you've been with for 15 years simply because their hands are tied and they cannot offer you a RAL this year is completely crazy.
miss mary

Peck, KS

#3 Jan 25, 2011
after your taxes are processed my the state and fed how long does it take emerald to put your money on your card and take the h and r fee's and emerald advance off..?
15 Yr Tax Pro

United States

#4 Jan 26, 2011
Miss Mary...

The RAC works on the same refund cycle as the IRS' deposit cycle. If you e-filed with at-home software and then set things up for your refunds to be direct deposited to a checking or savings account, that is the same "speed" as having come into HRB and utilized the RAC.

Block was due to offer a version of RAL's this season until the Office of the Comptroller of the Currency decided that HSBC Bank could not offer them. The RAL that Block would have offered would have been - essentially - an enhanced Emerald Advance, with qualification for it based more heavily upon credit factors than simply the size of your Federal Refund.

If the IRS sticks to their current line on the RAL's + the debt indicator, the old-fashioned RAL of just last year is gone forever.
miss mary

Peck, KS

#5 Jan 27, 2011
thank u tax pro, so the irs says my funds will be deposited on jan 28th( tomorrow i think) so thats when h and r block bank or whoever the h and r emerald card bank is, will put them on there? thank u very much
Sally

Beaver Falls, PA

#6 Jan 27, 2011
Miss Mary,
From the info you provided, your refund should be deposited by 1pm tomorrow if you are having the funds put on your emerald card and there are no delays in funding from the IRS. But it looks like you are in good shape, check your balance on the card tomorrow. 1-866-353-1266 and follow the prompts. Good Luck and I hope you receive your funds tomorrow. H and R Block bank deposits the money on the emerald card the same day we receive the funds from the IRS. Hope that helps you.
steven

Akron, OH

#7 Jan 28, 2011
Shazzle wrote:
<quoted text>
That's so silly James. Why would you do something like that? Block didn't WILLINGLY screw you over. How do you think the company feels, being unable to offer RALs, a major p

roduct, this year? Did you not catch the huge finance charges on your RAL for the previous 15 years? Block banks big bucks on giving those out.
Block losing the RAL doens't have a thing to do with them. In fact, I have only been able to locate one tax place within an hour in every direction from me that is offering RAL, and mostly what they're doing is bait-and-switching. They get people in there, make them pay $45 for a background check up front, tell them they don't qualify for a RAL, and then press them to finish their taxes there anyway and wait the standard 8-15 days for returns.
The reason that RAL is so hard to find this year is because the government used to publish the Debt Index and hand it out to banks. It was a list of everybody who owed the gov't money; back taxes, child support, alimony, etc. For some reason they've been forced to protect the privacy of people who don't pay up, so they're not allowed to publish the Debt Index this year to banks. Without it, banks don't know who owes the government money, and they aren't willing to take the risk on people and offer them RALs.
Either way, going completely hostile on a company you've been with for 15 years simply because their hands are tied and they cannot offer you a RAL this year is completely crazy.
yeah right!whatever.what do you work for them or something?they screwed me over and i don't owe the government anything.
You are an idiot if you

Topeka, KS

#14 Jan 30, 2011
pay anyone for an RAL. It's your money and you pay some loanshark ( in this case H&R) to loan you your own money. Stupid is stamped across your forehead. Wake up people! Block is expensive and crooked!
hrblock are thiefs

Saint Ignatius, MT

#15 Feb 4, 2011
so I went to h&rblock thinking i would get a ral, they did not tell me they do not offer it until they already charged me over 300$ to do my taxes! Also they did offer me an option for a loan for a fee, i took their offer. well after i checked that is the same day irs is releasing my refund anyways so h&r block has scammed me~NEVER AGAIN will i go to a dishonest business!
Confused

Waterloo, IA

#16 Feb 4, 2011
My husband went into H&R block and filed his taxes and the women told him that he would not be able to file our 16 soon to high scholl son next year. I looked on the irs page it said we could not file him if he is working but he not working and I do not understand why we can not file a child that is still in our hone until he 18 and has graduated from high school.
If they say your going to get your refund on the 11th of this month will it be on that day or do not look for on that day.
tonya

East Moline, IL

#17 Mar 4, 2011
If you file your taxes of Feb. 24th when are they supposed to be put on the Emerald card???I think it said if you have direct deposit it would be March 4th but is there a certain time you had to have your taxes filed by on the 24th???
Daryl

Pittsburgh, PA

#19 May 5, 2011
You could always file earlier and go electronic. I got my tax refund in 10 days this year.

Daryl
www.l-wconsulting.com
Dana

Glendora, CA

#20 May 8, 2012
This was my first year doing my taxes and I thought I could trust H&R block to help me. Well I am married but before I was, my husband incurred debt where he owes the irs money for his inheritance thanks to the retarded lawyers not doing there job and taking state and federal taxes out of his money. Well, I told the man that I wanted to file seperately because I didn't want to lose my hard earned tax return for the year I spent on my own while my husband was incarcerated thus he had no income. So after I thought I made that clear, I filed, and when I was supposed to collect my return I ended up getting nothing! Turns out he put married filing joint and I was totally screwed out of my tax return! What the hell do I do now? The irs took all of my money and I don't owe them anything! That man made a mistake and am I suppossed to pay for it?

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