We are here to advise that as of July 31 2010, the IRS has prohibited banks to serve you with Rapid Refund Anticipation Loans (RRAL).
Advocate Groups has been meeting with different committes to go against these products. They believe the banks are overcharging the Tax payers for this service.
Because the IRS has placed a stop and added additional PRIVACY POLICY on the Debt Indicator, the banks can no longer have access t trhe the Debt Indicator to find out if you are a risk or not. Because of this, the banks has stopped offering the RRAL only. Therefore we are not able to provide you the RRAL.
This Debt indicator advises the IRS, you, the Tax payer and/or any Financial institute if you owe any financial obligation to a government agency, such as County Courts, State Child Support, Alimony, Public Assistance, Student Loans, FHA/VA home loans or any military credit cards, the IRS has the right to take the amount owe as the lien holder to pay off your debt before you can receive any of the Tax refund.
EPS will have other products that may satisfied your needs. Please review the products below or you may go to their web site to review their products and fees.
Please be advise, if any other bank is offering the RRAL, the criteria for each person has changed, and the requirement has made it difficult for any one to get approved. Last year, we had Clients who normally requested this product, suddenly could no longer received the RRAL because of the Bank requirements.
This has NOTHING to do with our office. This is a new regulation put in place by Congress and the Internal Revenue Service.
For further information please contact the Internal Revenue office at 800 829 1040
