United States
In the United States, taxpayers can apply for a refund anticipation loan through a paid professional tax preparation service, where a fee is typically charged for the preparation of the tax return. In the United States the Internal Revenue Service rules prohibit basing this fee on the amount of the expected refund. An additional fee is usually charged by the service for originating a bank product and establishing a short-term bank account. By law this fee must be the same on both loan and non-loan bank products, and in 2004 the average fee was $32. The bank through which the loan is made charges finance charges.
According to the National Consumer Law Center, 12 million taxpayers used an RAL in 2004. With e-filing and IRS partnerships that help consumers e-file for free, U.S. taxpayers can receive their tax refunds within three weeks and as quickly as ten to fourteen days if they choose to receive their refund via direct-deposit. This has rendered RALs less attractive to some.
Read more about this topic: Refund Anticipation Loan
Famous quotes related to united states:
“... the yearly expenses of the existing religious system ... exceed in these United States twenty millions of dollars. Twenty millions! For teaching what? Things unseen and causes unknown!... Twenty millions would more than suffice to make us wise; and alas! do they not more than suffice to make us foolish?”
—Frances Wright (17951852)
“I am colored but I offer nothing in the way of extenuating circumstances except the fact that I am the only Negro in the United States whose grandfather on the mothers side was not an Indian chief.”
—Zora Neale Hurston (18911960)
“Some of the offers that have come to me would never have come if I had not been President. That means these people are trying to hire not Calvin Coolidge, but a former President of the United States. I cant make that kind of use of the office.... I cant do anything that might take away from the Presidency any of its dignity, or any of the faith people have in it.”
—Calvin Coolidge (18721933)
“The House of Lords, architecturally, is a magnificent room, and the dignity, quiet, and repose of the scene made me unwillingly acknowledge that the Senate of the United States might possibly improve its manners. Perhaps in our desire for simplicity, absence of title, or badge of office we may have thrown over too much.”
—M. E. W. Sherwood (18261903)
“Places where he might live and die and never hear of the United States, which make such a noise in the world,never hear of America, so called from the name of a European gentleman.”
—Henry David Thoreau (18171862)