Repeat after me. Refund Anticipation Loans are bad!

If you are filing a simple return, there is no reason for you to pay a preparer to file a return for you. Especially when you might be able to file your return for free. There are also volunteers who prepare some returns for free.

Volunteers Will Not Prepare 
• Schedule C with losses
• Complicated Schedule D (capital gains and losses)
• Form SS-5 (request for Social Security Number)
• Form 8606 (non-deductible IRA)
• Form 8615 (minor’s investment income)
• Form SS-8 (determination of worker status for purposes of federal employment taxes and income tax withholding)
• Parts 4 & 5 of Form 8962 (Premium Tax Credits)

DON'T FALL FOR REFUND ANTICIPATION LOANS

Even if you file early, you won't get your refund early. If you're claiming the Child Tax Credit or the Earned Income Credit, the IRS won't release your 2016 refund until February 15, 2017.

What are refund anticipation loans? 

Tax preparers charge people (who really can't afford it) hefty fees to prepare their return. Instead of paying the tax preparer upfront, the tax preparer takes the fees out of the refund. Instead of the taxpayer receiving the refund directly from the IRS, the tax preparer issues them a prepaid card.

PLEASE DON'T DO THIS!

The simple returns you're paying hundreds of dollars for probably takes 15 minutes to prepare.