What are Bank Products
- FAQ
 IRAL ( Instant Refund Anticipation Loan) Also called NowRAL
Taxpayer can receive a loan within 15 minutes, up to but does not exceed the amount of their refund and no more than $1500 minus bank fess. There is no guarantee that the taxpayer will receive the IRAL. The IRAL is a bank decision based on the taxpayer’s credit.
RAL (Refund Anticipation Loan)
Taxpayer can receive a portion or their total refund depending upon the amount of their refund within 1-2 days. The remaining taxpayer refund can be funded within 7-14 days, based on the refund cycle chart Publication 2043. The taxpayer will get paid, when the bank gets paid. What will not allow the RAL to fund is back taxes (state or federal), child support student loans and credit agencies. If the taxpayer does not qualify for the RAL the bank will automatically “flip” it to an ERC (7-14 days) which means the bank will not pay the taxpayer until the IRS pays the bank. If the debt takes the whole refund amount you will need to collect the necessary fees, tax preparation, Service Bureau. Tax preparation and bank fees are taken from the refund.
Low Cost RAL
This option is a RAL with lower bank fees. Taxpayer may only receive up to $1000.00 and the remaining follows the refund cycle chart starting from the IRS accepted day. OR if the refund is between $1000-$300 after fees than select this option to get a RAL. Tax preparation and bank fees are taken from the refund.
ERC (Electronic Refund Check)
Refund in 7-14 business days from the IRS accepted date. This option allows the client to get his or her return prepared without having to pay any upfront money. This option can be check or cash card depending on the place of business. Cash cards could have additional fees when used. Tax preparation and bank fees are taken from the refund.
ERD (Electronic Refund Deposit)
Direct Deposit Refund in 7-14 business days from the IRS accepted date. This option allows the client to get his or her return prepared without having to pay any upfront money. All taxpayer funds received can be directly deposited into a checking or savings account. This option there is no printed checks and the client does not have to return to the office. All paperwork should be sign before the client leaves the office. Tax preparation and bank fees are taken from the refund.
E-file only
The taxpayers return is filed electronically and the taxpayer pays up front. The refund check (if applicable) will be mailed to the address on the tax return. The check will be printed and mailed according to the refund cycle chart. (Pub 2043). This option can also be directly deposited into the taxpayers checking or savings account. Taxpayer may also qualify for this option if they have a balance due, check does not have to be mailed until April 15 of the tax year.
PAPER: The client pays up front and the refund check (if applicable) will be mailed to the address on the tax return. The processing center prepares the tax return, prints it out, and mails the return back to your office for the client to pick and pay. Have the client sign and mail the returns with the necessary documents already attached. If the taxpayer has a balance due they must include payment at the time the return is mailed. Credit card payments are accepted by the IRS, additional fees may apply, and the taxpayer has to call another agency.
NOTE:
If a refund “after fees” is less than $300 it does not qualify for a RAL any form of RAL(IRAL, RAL, LOW COST RAL). Taxpayer can only select ERC, ERDD, Paper or E-File Only.
RAL’s can be denied if the withholding is less than $300.00
Our postal address is:
Express Tax Lane Powered by Lopez
Tax Service®
1588 Moffett Street, Suite F
Salinas, CA 93905
Telephone: 1.831.422.4888
FAX: 1.831.422.4844
Email:
info@expresstaxlane.com
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