I have looked everywhere on the Net for a definition of ASSISTED REFUND that's offered by Jackson Hewitt. I've even perused Jackson Hewitt's website for information, and they dont explain what it is, but only what you can expect if you sign up for one.
So, since there is really no definition for Assisted Refund, I feel it's my responsibility to educate those of you who might be thinking of looking into an Assisted Refund from this company now, or in the future.
An "Assisted Refund" from Jackson Hewitt as best I can tell is described in this way; A marketing tool used by Jackson Hewitt to gain more of your tax dollars while making you think that they are delivering a vital service to you that will allow you to receive your Tax Money sooner than you would if you were to either Mail-In your return, or E-File your return. Essentially the AR from Jackson Hewitt is a legal gimmick that allows them to charge you money that you would not normally pay to E-File. You do not get your money any faster with an AR if you compare it to E-File. In fact what I read indicates to me that when they do your taxes and E-File for you, you receive your money when the IRS sends your refund to the bank ASSISTING YOU! Is that not the dumbest thing you've ever heard.
For those of you who might be interested in using Jackson Hewitt to do your taxes this year, please allow me to give you the fee's that they charge UP-FRONT before you decide to rely on them for your tax preparation.
TAX PREPARATION FEE:
FEDERAL: $292.00
STATE: $40.00
Accuracy Guarantee: FREE
Electronic Filing: FREE
Data & Document Storage: $10.00
Bank Fee's: $91.17
Transmitter Fee: $20.00
Office Check Fee: $10.00
Total of Services: $463.17
Essentially Jackson Hewitt plays on the notion that those of us who want our money fast will pay the price to get our money fast, and regardless of the fee's that they charge we consumers will pay because it's not really coming out of our pocket but off the top of our refund from the government.
One thing that Jackson Hewitt will not tell you is that if you do want to get a RAL (Refund Anticipation Loan) the maximum that you can now get is $1500.00. So for those of you who want your money fast, be prepared to pay almost $500.00 for the priviledge of $1500.00.
If I were to tell you UP-FRONT that I could get you $1500 dollars by tomorrow but you have to pay me $500 dollars when it's all said and done chances are you would not go for that. You like many others would simply opt for the E-File option and wait an addition 7 days or so, and pay nothing to get it. From the research I have gathered the Banks that Jackson Hewitt uses are: Republic Bank, Advent Financial and UMB Bank.
Jackson Hewitt operates on the notion that once you are there, and you've spent all of your time going through the steps that in the end you will choose to continue and finish your preparation rather than quit and simply do nothing. So by telling you all of the fee's in the beginning they wait til the end of the appointment when everything is already almost done.
Do you have similar experiences? Have you had any problems with tax prep? Have you had any GOOD experiences when it comes to using a tax prep company? Let's hear them, good, bad or indifferent.
*An Assisted Refund (AR) is a financial product offered by University National Bank of Saint Paul, MN, Member FDIC, and processed by Santa Barbara Tax Products Group, LLC of San Diego, CA Bank and other fees may apply. An AR is not a loan and is limited to the size of your refund with all applicable fees deducted. Refund timing is based on comparison to a check mailed from the IRS and depends on disbursement and IRS funding which may range from 10–21 days. Tax refund and e-filing are required in order to receive an AR. Ask your tax preparer about other IRS e-filing options. Most offices are independently owned and operated.
ReplyDeleteACTUALLY AN ASSISTED REFUND IS A BANK PRODUCT THAT COSTS 29.95 FOR THE BANK TO SET YOU UP A TEMPORARY ACCOUNT. ITS A PRODUCT THAT ALLOWS US TO WITHHOLD YOUR FEES FROM YOUR REFUND!! FEDERAL STARTS @ 38$ AS WELL AS FOR THE STATE. 1040EZS ARE FREE AT OUR RETAIL LOCATIONS. MAYBE YOU SHOULD DO YOUR HOMEWORK BEFORE YOU POST SLANDER ON PUBLIC SITES!!!
ReplyDeleteI had my taxes done at JH yesterday. And after looking over the paperwork, an AR is basically the fees JH charges u. Instead of me paying them upfront 2 do your taxes they just take it out of your refund. The only way you'll get your taxes a little earlier is if you have it direct deposited into your own bank account. Didn't @ mylxplx read the paperwork? I know I did.
ReplyDeleteBoth of my teenage sons had their taxes done at JH yesterday. They were not asked if they wanted to use the assisted refund option and they were charged $98 for tax filing and $49.95 for the assisted refund. The woman preparing there taxes just did the paperwork without asking if they wanted it. My son called from the office parking lot and said they didn't charge us for doing our taxes. I checked the paperwork when I got home and found all the fees.
ReplyDeleteI think the preparer needs to ASK and not just ASSUME all people want this service. I called the main office and they said it was too late to stop the fee because the IRS had already accepted the return.
We have used JH for years and never had an issue until yesterday. The lady that ran the local office knows my family and always treated us fairly and explained everything. She is no longer with JH so we may have to find another tax preparation agency.
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ReplyDeleteI asked the same question for twelve months now, and today was finally given the answer ( they charged me 49.95, and I used these guys 5 years. I am so disappointed. Yet, grateful that I will not be a repeat customer this year! And will be telling everyone I know and meet about this act they pulled on me. I will be posting more about Jackson Hewitt, unless they can remedy or reimburse the 49.95. I won"t shut up about the rip off.
ReplyDeleteSherri- Beloit
I used Jackson Hewitt five years. It was 2018 they avoided me after many attempts to get a response to the 49.95; usually by this time now they are calling ahead of time as reminder to set up schedule with them again, gee; I haven't heard a peep yet, and won't now! It would have been nice to get some sort of explanation, but they didn't even offer that. The forms say the assisted refund program is provided through Republic Bank & Trust company. I use the same direct deposit year after year, easy e filed. what was the 50 bucks suppose to do for me? I will never know. Sherri Beloit WI
ReplyDeleteI was absolutely in disgust when my friend who is single mother of 2 told me she was charged $549 to file her taxes but they said she didn't qualify for the anticipation loan so how can they take from her a huge fee that wasnt approved to get taxes back early This is totally wrong and ripping people off!! Turbo tax is FREE!!!
ReplyDeleteI agree! Rip off! Big Time! This company should be sued for what it’s doing to its customers. Shame on them!
DeleteI went through JH this year and the lady charged me $68 to do my Federal, $96 to do my state and city. In all, i thought i was only paying $164 to file my taxes. She asked me if i wanted to pay now or pay later and she stated that if i pay later it would just be taken out of my refund at no additional cost. When i started looking at my paperwork, i noticed this $49.95 fee for an "assisted refund" but on the paperwork it says "you can avoid these fee and still receive your refund in the same amount of time by having your refund directly deposited into your bank account" i chose direct deposit and even gave her all my bank information in which i seen her type into the computer. I am being charged $50 for a service i was never once asked if i wanted and i didn't even know about. How is this legal???
ReplyDeleteI was charged $598 apparently. I didn’t know this until looking at my paperwork which wasn’t available for me right away. I was not even told this up front. I’ve filed with them two years prior and was not charged this much. Hmm? Wander what was so different this time. Not a happy person. I feel like I have been ripped off!
ReplyDeleteI was a victim of these people as well. THERE IS NO RECOURSE, NO ONE TO TALK TO OR COMPLAIN TO. WTH? I am so frustrated! I have no confidence in them, nor do I believe what they say. How am going to get my stimulus check? I still don't have it. It's saying they are not sure if assisted refund people are going to get it on the serve card. I also, really hate American Express. Worst customer service!!
ReplyDelete