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Tax reimbursement expectation loans, checks a bad deal for income tax filers

Tax reimbursement expectation loans, checks a bad deal for income tax filers

Tax reimbursement expectation loans a deal that is bad

JASON POWERS / Tulsa World

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Numerous cash-strapped individuals eagerly await their tax refunds but ramp up as victim to pay day loan clothes refund that is offering loans” or “refund expectation checks.” Worse yet, numerous big tax preparers provide their naГѓВЇve customers RALs and RACs at rates of interest surpassing 100 %.

Advertised as an easy way for money poor customers to pocket their federal taxation refunds immediately, RALs, RACs and comparable items are really high-interest loans with significant drawbacks, stated a current consumer alert by Arkansas Attorney General Dustin McDaniel.