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Reader comment on: HSBC, H&R Block, and Refund Anticipation Loans
in response to reader comment: Interest free loans for the government

Submitted by Brian Hoffman (United States), Dec 29, 2010 17:40

The real problem here is not the RALs, it is the dishonest and unequal way the OCC has applied this ruling and the timing. Liberty and Jackson Hewitt are both still offering RALs.

Lyle - HRBlock discloses the rate and the amount in letters that are over 3/4 inch tall both on screen and in writing before the loan is made. Clients are given choices. Your image of Block preparers forcing this down the throats of clients is bull.

Clare - I will guarantee that I have more tax training than you've ever dreamed of. We are REQUIRED to have a minimum of 30 hours hours per year. In fact, my favorite client is one who's CPA has already done their taxes. I never fail to find more, legal deductions.

And our fees are much less than the average CPA. Besides, many of our clients are uncomfortable going to CPAs.

Sorry if I sound angry, but I need to set the record straight.

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Other reader comments on this item

Title By Date
This runs into a back to the future movement [121 words]LyleDec 28, 2010 00:04
This "Analysis" is Not Even Close [164 words]Clare CPADec 27, 2010 22:38
APRs of > 300%, Rip-Off Artists, etc., etc. [345 words]Britt the bankerJan 6, 2011 16:24
Interest free loans for the government [18 words]DavidDec 27, 2010 14:17
⇒ Previous comments [163 words]Brian HoffmanDec 29, 2010 17:40

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