So if I offered you “free” tax return preparation, and with that, I would give you an instant Tax Rebate, once I am finished (no waiting for the mean old CRA to pay out), would you take it?
Let’s just say, I am finding more and more people who seem to think this is a great idea, and it really sickens me.
If you want a fast rebate, submit your tax forms early, and it will show up pretty darn quick. If you wait until “Tax Day” (April 30, 2012) and you are owed money, you have just loaned the government your refund for that much longer (and it is going to take a long(er) time to get your refund as well). Is that an excuse to use an “Instant Refund” service? No!
Suck it up and grow a patient bone in your body, will ya?
First, you really shouldn’t be waiting for that big a refund (unless you have discovered some important deduction that you have forgotten). Make sure that you declare all your credits to your payroll office and get as much back on your taxes during the year, then your refund shouldn’t be that big. Ideally, I would say if you are getting more than $500 back, you need to go back to your payroll office, so you get paid more during the year (and you are loaning the government more than you should during the year).
Second, if you are using an “Instant Rebate” for a $500 rebate, you are in pretty dire straights, and you have bigger problems than needing your rebate. Wait a couple of weeks, get your WHOLE rebate and then pay down some debt with it.
Finally, why are you loaning money to the government and then giving that money to some stranger for simply giving you a percentage of your actual refund? You will give $45 for your first $300 in rebate and then $5 off every hundred above that (with H&R Block at least). So you are giving someone 15% pay back for $300 for a 2 month period, so that pays out to about a 90% pay out (if you amortize this over the year and such), wow, I should open my own Instant Tax Rebate firm, that is some nice coin.
Why aren’t people patient for their tax refunds any more?