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River City Establishes Fee Forward: Tax Prep Advance

Adam Rust's picture

Posted November 19, 2012

River City Bank (Louisville, Kentucky) will offer a new bank product to tax preparers for the upcoming tax season.

The new product, known as the Fee Forward, can advance the preparer fifty percent of the outstanding preparation fees charged to a filer.

Fee Forward is free to qualified preparers when used in conjunction with processing services. This year, River City will

Block Fumbles on Early Success with Free Refund Checks

Adam Rust's picture

Posted March 9, 2012

I was ready to give H&R Block a big pat on the back for their promotional free refund anticipation check, but then I lost my enthusiasm after a little bit of calling around.

During Block's March 7th investor call, Block's CEO led off with his belief that offering free refund anticipation checks had been a boon for business.

Feds Stop Bogus Tax Refund Filings by Prisoners

Adam Rust's picture

Posted February 3, 2011

An agreement reached between the Bureau of Prisons and the IRS will put an end to efforts by prisoners to operate fraudulent tax refund schemes. In the past few years, prisoners have successfully gamed the IRS for millions of dollars in refunds.

It appeared that some prisoners were filing multiple returns, aided by partners on the outside that used false social security numbers. More than half of the false returns came from prisoners at the London Correctional Institution in London, Ohio.

New Job for Mark Ernst

Adam Rust's picture

Posted January 7, 2011

Mark Ernst has taken a new position as Chief Operating Officer and Executive Vice President at Fiserv. Ernst starts this week. Ernst has most recently served as Deputy Commissioner of the IRS. Prior to that, he was the CEO of H&R Block. Fiserv provides technology solutions in the financial space.

Looking Back

Ernst seems destined to be remembered as the person that ended the debt indicator. That decision, while

Tax Prep in 2011?

Adam Rust's picture

Posted August 6, 2010

The IRS left a big question hanging in the air when it announced that the debt indicator would not return for 2011. The issue is the split refund. The split refund already exists. This year, tax payers were allowed to dedicate a "split" of their refund They said that will study the idea of letting taxpayers split their refund.

RALs aren't going to disappear. Right now, Steve Trager, John Hewitt, Alan Bennett and the other titans of the refund anticipation loan are developing

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