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How to Set Up Rapid Refund

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From Quick Guide: Income Tax Return Basics

Summary: Rapid refund is a type of tax refund that occurs when an individual uses an easy-to-file tax return. Find out how some companies have been known to keep portions of refund money as a commission with help from a registered financial consultant in this free video on rapid refund for tax returns.

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By Patrick Munro
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Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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Video Transcript

"This is financial advisor Patrick Munro talking about how to setup rapid refund. Rapid refund is a type of a tax refund situation that occurs with individuals that have a very easy to file tax return and various tax franchises that are on basically any street corner in America offer this type of a service for individuals that will receive a check for their money right at the time of filing their taxes. That's the good news. The bad news is that the individuals that are receiving the tax return and issuing that check are keeping a major portion of the dollars that do ultimately come back from the IRS. And that is the commission, or the fee, that is payable as a result. Governmental authorities have been cracking down on several people that have abused this practice most notably in inner city neighborhoods where the rapid refund can approach as much as fifty percent of the actual refund of the tax payer and this is in violation of several laws. So if you're an individual that is going to be filing your taxes and you're looking forward to a refund, try to exercise patience and wait for your tax refund to arrive back, your refund check to arrive back from the IRS. Why pay unnecessary fees. This is financial advisor Patrick Munro talking about how to setup rapid refund."

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