Beware of Quick Income Tax Refund Scams

Every year there are tons of people who can’t wait to get a quick income tax refund and this opens the door for a portion of shady, predatory tax preparers to exhort their unsuspecting victims. While all tax preparers are not this way, there are some who are. During the year people may accumulate debt, need to catch up on rent payments, or simply just want to purchase something, and this is why they opt for the quick tax loan.

Tax preparers who charge excessive fees are preying on the fact that the customer is in a sometimes desperate situation. This kind of behavior is wrong on so many levels. Beware of tax preparers who tell you that they can get you back more money, or get you money quick. Some tax preparers charge consumers a whopping $200 to file an income tax return. Now in most urban areas the people are being charged even more obscene amounts of money in the upward range of $400 – $700 to get them a fast tax refund. This is robbery at its best. Why do people continue to pay these extremely high prices for something that only cost $30 to maybe $50? Did you know that it is absolutely free to file your own taxes directly through the IRS?

People should go through a reputable tax filing service online if they don’t want to file their tax return themselves. They are very affordable and cost around $30 to $50. This is a reasonable and fair price.

Most people who file to get a quick income tax refund just have a simple W-2 form. It’s not like they have to file business taxes for a corporation which requires some serious hours of preparation. They only have one form and you can just type the information into the online tax filing service’s website. It is best to use an online electronic filing website. The whole process of you filing your taxes online only takes about 10 minutes. You can have your tax return back in 7-14 days which is the same amount of time that it takes for a tax preparer to get you a quick income tax refund.

Did you know that the reason consumers get charged so much is because they are actually being given a quick refund loan? They are giving people high interest bank loans and charging them obscene amounts of interest, sometimes up to 300%. People should avoid fast tax loans at all cost.

The consumer should educate themselves on the downside to getting these quick income tax loans. Buyers please beware of quick tax refund scams. It is just not worth it. Remember you can file your taxes online and get them back just as fast if not faster than if you got a quick tax refund. Consumers have to be careful not to become victims during this and future tax seasons. Why pay someone $200 or more for something that you can get done for $30 or $50?