taxnet financial very deceitful and fraudulent company Illinois Internet
I have had bad bad experience with Taxnet Finacial In mid December 2014 I filed for a ral advance which the ad said no credit check I summited all my personal information that was requested about 2 days later I get a denial letter they ran credit with out my consent and went againt what their advertisement said on the web.After the denial letter 2 days later I get a approval notice which was the RAL agreement I then signed and submitted back I also called and was told their customer service representative that I am still denied so we agreed then my taxis will not be filed through their company and it was left that way.on January 18 2015 this company charge me with my consent over $350 and did my income tax with no form of communication and submitted it to the irs when call they litterly beat around the bush with no legitimate answer so I kept calling and emailing some one finally call me back whom claimed that he was from the compliance department he said to me that my funds wil bel deposisted on Friday January 23rd no later than Monday 26th of January I litterly believed him it was all a LIE I called irs and was told I have at least 21 days for my refund so Tax net SHAME on you for bein so deceitful dishonest and fraudulent
1 Updates & Rebuttals
Taxnet Financial
Chicago,Illinois,
United States of America
No Credit Check
#2UPDATE Employee
Tue, September 01, 2015
A Refund Anticipation Loan (“RAL”) is not your actual refund; it is a short-term loan in anticipation of YOUR income tax refund being paid by the United States Department of Treasury. With a “RAL”, instead of transmitting the entire tax refund to YOUR account, your tax preparer instructs the “IRS” to transmit YOUR refund to an Electronic Refund Deposit (ERD) Account established for YOUR benefit to pay any outstanding fees.
If you are applying for a “RAL” there is no credit check because your loan advance is secured by YOUR tax refund. A “RAL” finance fee of $57 (APR 208.05% is based on a 10 day loan period) is deducted from the $1,057 advance upon approval for a $1,000 gross disbursement less tax preparation fees.
WHEN YOU TAKE OUT A TAX REFUND ANTICIPATION LOAN ADVANCE, YOU ARE BORROWING MONEY AGAINST YOUR TAX REFUND. IF YOUR TAX REFUND IS LESS THAN EXPECTED, YOU WILL STILL OWE THE ENTIRE AMOUNT OF THE TAX REFUND ANTICIPATION LOAN ADVANCE. YOU CAN GET YOUR REFUND IN 8 TO 15 DAYS WITHOUT PAYING ANY EXTRA FEES AND TAKING OUT A TAX REFUND ANTICIPATION LOAN ADVANCE. YOU CAN HAVE YOUR TAX RETURN FILED ELECTRONICALLY AND YOUR REFUND DEPOSITED INTO YOUR OWN FINANCIAL INSTITUTION ACCOUNT WITHOUT OBTAINING A TAX REFUND ANTICIPATION LOAN ADVANCE OR PAYING FEES FOR AN EXTRA TAX LOAN PRODUCT.
There is absolutely no credit check since your loan is secured by your anticipated IRS refund.
In order to apply for a RAL you MUST file a bona fide tax return with Taxnet Financial. Once YOU sign your authorization to e-file and RAL agreement there is no way to cancel the e-file so we encourage consumers to review all terms and conditions prior to applying for a RAL. We do not file a tax return without authorized consent; however, once the tax return is filed with the IRS we are unable to reverse that process. Tax preparation and administrative fees as described in the Tax Refund Anticipated Loan Disclosure are non-refundable. Once you sign the IRS e-file authorization form 8879 your tax return is automatically filed with the IRS.
There is no guarantee that you will be approved for a RAL. We reserve the right to reject a tax refund anticipation loan application except for on the basis of race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to the fact that all or part of the applicant’s income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. Please be responsible and consider all refund options prior to applying for a tax refund anticipation loan advance.
If you are approved for a RAL we disburse the funds within 12 hours. If you are not approved your actual refund will be processed by the IRS generally within 21 days. We don't have any control over the timing of IRS deposits ;however, the IRS process over 90% of all refunds within 21 days.
You can cancel a RAL without penalty: You may rescind the RAL before the close of business of the 2nd day of business after you receive your RAL funds to avoid finance charges, by either returning the original check to the issuing Bank or providing the amount of the RAL in cash to your tax preparer. Cancelling a RAL doesn't stop the filing of your tax return(s).