That is a penalty there is also interest charged.

Reader comment on: Refund Anticipation Loans

Submitted by Lyle (United States), Feb 8, 2011 14:08

The penalty is in the nature of a fine. There is also interest charged on any amount due at market rates. THe IRS penalties are punishments, which are not comparable to interest but rather the IRS spanking the taxpayer, for misbehaving. Its not really fair to compute an interest rate on a penalty, Of course the same is done for banks, the overdraft fee perhaps should have been called an overdraft penalty. (Of course avoiding overdrafts is easier than ever today)

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Title By Date
⇒ That is a penalty there is also interest charged. [81 words]LyleFeb 8, 2011 14:08
↔ Misunderstood APR [144 words]Joe SFeb 9, 2011 10:40

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