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.
