Impact On Industry
CADE is expected to impact the tax preparation and tax bank product industry in a significant way. By enabling deposits to be made within 72 hours, the new system will render refund anticipation loans obsolete. It is also expected to greatly increase the demand for e-file.
The only setback will be for taxpayers who do not have established bank accounts to receive direct deposit. The wait time for checks by mail will still be a minimum of one week.
Read more about this topic: Customer Account Data Engine
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