E-Filing FAQS

Electornic Filing (E-file)?
Rapid Anticipated Loans (RAL)
Refund Anticipation Check (ERC)

Electronic Filing (E-file)

Q. What is electronic filing (e-filing)?
A. Electronic filing means we transmit your return to the IRS by computer instead of you mailing it to them by U.S. Mail.

Q. What is the advantage of electronic filing?
A. The advantage is that you receive your refund in about two weeks instead of the usual ten weeks. Another advantage is there are fewer IRS errors because human data entry is eliminated.

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Rapid Anticipation Loan (RAL)

Q. What is a Refund Anticipation Loan?
A. A Refund Anticipation Loan (RAL) is a recourse loan between you and a bank based on the amount of your anticipated IRS refund.

Q. Which bank do you use for RAL's?
A. We use Santa Barbara Bank and Trust for RAL's as well as ERC's.

Q. Can I pay for my return preparation using RAL proceeds?
A. Yes. Although there is a processing fee and a finance charge for a RAL, you can choose to pay these fees along with your return preparation fee using RAL proceeds. Thus, there are no out-of-pocket costs to you.

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Refund Anticipation Check (ERC)

Q. What is an Electronic Refund Check (ERC)?
A. An Electronic Refund Check (ERC) is a check mailed to you by US Priority Mail to you by a bank in the amount of your tax refund less your tax return preparation fee. ERC's can also be directly deposited into a bank account, eliminating the need for a paper check.

Q. Which bank do we use for ERC's?
A. We use Santa Barbara Bank and Trust for ERC's as well as RAL's.

Q. How soon can I get my ERC?
A. Can be as little as 9 days. First, we prepare and electronic file your return. The IRS must then accept your return which takes about 24 to 48 hours. Then, the bank issues a check and we deliver it to you via US Priority Mail, or, if you choose, the bank will directly deposit it into your bank account.

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