Tax season is here again. Don't let this happen to if you!

I always wondered how those "refund anticipation loans" worked ... but as I always have to PAY taxes, I've never had the "refund" option available to me!

I too used that Santa Barbara Bank thing. Although I didn't have the same problem above with them holding my refund, I did have trouble with the stimulus checks. By using that Santa Barbara Bank thing, I was not classified as a direct deposit on my tax return. That meant that I had to wait for a paper check to arrive....months later.

yeah i got that e-mail too for my stimulus.i deleted it as spam.thank goodness.

When I did mine, I got to the point on turbo tax where you had to pay. I thought, hey great this is a wonderful option....wish I hadn't. Messed up my stimulus check too.

I think my sister just did that with her's, it is supposed to be deposited next friday...we'll see how long it takes

I didn't have any trouble getting my refund deposited. It just messed up me getting my stimulus check on the direct deposit schedule. I had to wait a couple of months extra to get the paper check. I won't do that option again.

Thankfully I didn't have any problems w/ tax refunds or the stimulous check. I DID, however, get a flood of e-mails from the PDLs' who I'd blocked from my account saying that since I was going to get a stimulous check, they'd be more than happy to accept part of that for the $$$ I (supposedly) owed them. Really generous, hm?

I used TaxAct to do my federal taxes online for free. I had no problems with my refund nor my stimulous check. Both were direct deposited with no problems.

My state I file direct online to the state from thier website.

I used tax act a few years ago and it worked great, I just forgot to mail the return in :(

You don't have to mail a return in :?:

Last year I used the HR Block "free-file" option -- put my bank info on my return and the Fed deposited my refund within a week. Before the free-file online, I used to file a paper-1040 myself and mail it in to the IRS. Never, ever had any problems getting my refund.

I did have to mail it in, because I didn't have internet access, I was just working on a computer.

Oh I see. I thought you meant you filed electronically and then forgot to mail it. Got ya :wink:

nope, I was in the middle of moving, had the internet turned off in the home I was leaving, and had an extra few hours to do my taxes, so I made the mistake of doing it that way. I learned my lesson with that one!

Ouch I bet you did. :(

RAL's are not a scam what so ever, people are just ignorant and they do not know how it works.!!
First of all.!
SBBT is not to blame. Tax preparers however are.!
SBBT has 2 bank products
1.- RAL- If eligible you could get your refund within 24 hours after IRS acknowledgement. Also, the tax preparer should discolse and have the Taxpayer sign an application which clearly states that if the loan is denied, then it would convert in to the second bank product, which is an RT, that is only a Refund Transfer, which basically works the same way as the efiling, the only difference is that SBBT will give you the option to have your check printed at your Tax preparers office or a cash card, as well as Direct Deposit.

The charge if you get denied for the Loan is 30.95 as the handling fee. Which TP's never understand is that they have actually signed an application accepting the conversion from a RAL to an RT. Every tax season we get hit by millions of ignorant tax payers asking the reason for denial? Would you ask somebody? why dont you loan me some money? no.!! its my money.! i have the right to have my own loan criteria.! People blame SBBT for not having their money on time. Blame the IRS. Sbbt does not hold funds for more than 24 hours if so.

I would never take out an RAL or even suggest one.

My personal experience with SBBT was not very good. So it should be of no surprise that SBBT is held under such an unfavorable light.