Terry D EA Posted January 30, 2009 Report Share Posted January 30, 2009 In my area, a new tax office opened up that several folks had mentioned to me. As usual, I took the attitude that they won't bother me and I had no knowledge of who they were or even if they were qualified. Quite frankly, if HRB and JH never hurt my business, and only sent me clients, then I wasn't concerned. I just stepped out of my office for cheeseburger and found their card at a local restaurant that advertises all of the gifts they are giving away ( the largest one being a flat screen TV), 20% discount on prep fees, and the words "RAPID REFUNDS IN 24 HOURS" As we all know, this is a misrepresentation of the IRS refund policy, procedures, etc; and is exactly the same thing many of the big guys have been sued for. I see this is hispanic run, right next to a very popular hispanic restaurant, and I have been wondering where my hispanic crowd of the last 10 years are. I wonder if I found them. What would any of you do with this? Well, I had to edit this post, I now do not think any of my clients will be going to that office. I called to get my MFJ return with the NC state prepared, no itemizing, etc; and it will cost me $198.00. They have got to be kidding?????? My fee for that type of return is still only $79.95. Shame on me for not raising my prices this year. Terry D. Quote Link to comment Share on other sites More sharing options...
Daune/CA Posted January 30, 2009 Report Share Posted January 30, 2009 In my area, a new tax office opened up that several folks had mentioned to me. As usual, I took the attitude that they won't bother me and I had no knowledge of who they were or even if they were qualified. Quite frankly, if HRB and JH never hurt my business, and only sent me clients, then I wasn't concerned. I just stepped out of my office for cheeseburger and found their card at a local restaurant that advertises all of the gifts they are giving away ( the largest one being a flat screen TV), 20% discount on prep fees, and the words "RAPID REFUNDS IN 24 HOURS" As we all know, this is a misrepresentation of the IRS refund policy, procedures, etc; and is exactly the same thing many of the big guys have been sued for. I see this is hispanic run, right next to a very popular hispanic restaurant, and I have been wondering where my hispanic crowd of the last 10 years are. I wonder if I found them. What would any of you do with this? Well, I had to edit this post, I now do not think any of my clients will be going to that office. I called to get my MFJ return with the NC state prepared, no itemizing, etc; and it will cost me $198.00. They have got to be kidding?????? My fee for that type of return is still only $79.95. Shame on me for not raising my prices this year. Terry D. Have you considered the possibility of contacting this company to advise them about the thin ice upon which they tread? Don't know how close preparers are in your area, but since they are a part of your community, you may run into them frm time to time during the year. Quote Link to comment Share on other sites More sharing options...
ed_accountant Posted January 30, 2009 Report Share Posted January 30, 2009 It time to raise your Fee! Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted January 30, 2009 Report Share Posted January 30, 2009 Well, I had to edit this post, I now do not think any of my clients will be going to that office. I called to get my MFJ return with the NC state prepared, no itemizing, etc; and it will cost me $198.00. They have got to be kidding?????? My fee for that type of return is still only $79.95. Shame on me for not raising my prices this year. I believe you can offer those type of anticipated loans with ATX, and the fees are way out there too. I have always wonder what are HRB, Jackson Hewitt and Instant Tax Services (new around Chicago) fees. Does anybody have an idea? Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted January 30, 2009 Author Report Share Posted January 30, 2009 I am sorry but I have never heard of ATX offering any type of refund loans. They do, however, partner with some banks to offer the refund loan products. The biggest problem with what this company is doing is placing the words " Refunds in 24 hours", "Rapid Refunds" in three different places in their advertisment. Terry D. Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted January 30, 2009 Report Share Posted January 30, 2009 I am sorry but I have never heard of ATX offering any type of refund loans. They do, however, partner with some banks to offer the refund loan products. The biggest problem with what this company is doing is placing the words " Refunds in 24 hours", "Rapid Refunds" in three different places in their advertisment. Terry D. You are correct about ATX does not offering the loans :-) I understand your concern about all the misleading advertisment, but look at what is the company's target market, many tax payers not understand that they are getting a loan that includes interested, fees etc.... If they only knew that if they efile they can get all there qualified refund back. Quote Link to comment Share on other sites More sharing options...
AnnieR Posted January 30, 2009 Report Share Posted January 30, 2009 I believe you can offer those type of anticipated loans with ATX, and the fees are way out there too. I have always wonder what are HRB, Jackson Hewitt and Instant Tax Services (new around Chicago) fees. Does anybody have an idea? Client brought in last year's return prepared by HRB and preparer fees were $125 for a 1040EZ and $87 for bank fees. AnnieR Quote Link to comment Share on other sites More sharing options...
Catherine Posted January 30, 2009 Report Share Posted January 30, 2009 Client brought in last year's return prepared by HRB and preparer fees were $125 for a 1040EZ and $87 for bank fees. AnnieR That's just disgusting. I wonder how some people can look themselves in the mirror every morning. Quote Link to comment Share on other sites More sharing options...
Joel Posted January 30, 2009 Report Share Posted January 30, 2009 Just of interest "Rapid Refund" is a trademark of HRB. They have sued others for using it. According to HRB it is the name for their electronic filing program and process. Quote Link to comment Share on other sites More sharing options...
jainen Posted January 30, 2009 Report Share Posted January 30, 2009 >>They have sued others for using it.<< I believe the principal challenger was the IRS, which will not allow anyone to suggest that they can get the REFUND quickly. Only the IRS itself can issue a refund, not the banks. Block now calls it "Instant money" or "Classic RAL." Others call it Rapid Access Loan, etc. If you think your competition is acting unethically (misrepresentation), you can file a complaint with the Office of Professional Responsibility or the appropriate state board. If you think they are violating the business & professions code (false advertising), you can complain to the local district attorney. Your position should be documented with photos, legal rulings, etc. Personally, I don't think it's worth the time. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 30, 2009 Report Share Posted January 30, 2009 I concur with Jainen (oh my gosh - don't tell him). Let it go. If you have solid ethical business practices, you will do fine in the long run. They will succeed or fail on their own business model. Everything works out in the end. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted January 30, 2009 Author Report Share Posted January 30, 2009 Thanks for all of the replies. I do concur with Jainen and Bulldog Tom. I plan on giving them a friendly visit to give them a headsup and that is it. I do have solid ethical business practices and I am not really concerned at all about the effect this practicioner will have on my business. To address one of the other posts, yes people will fall for anything if it appeals to them. Like my wife said, people who are getting a refund for an amount that is well over and above their withholdings, really don't seem to care what it costs either. I have seen clients who will spend 250.00 to get a 900.00 refund. Makes no sense to me. Terry D. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted January 31, 2009 Report Share Posted January 31, 2009 But for gosh sakes, at least raise your fee by a nickel, so that you charge round numbers! No one likes to fool with small change these days. Quote Link to comment Share on other sites More sharing options...
GeneInAlabama Posted February 1, 2009 Report Share Posted February 1, 2009 I would a whole lot rather pay $80.00 for something than to pay $79.95. The 95 cents makes me feel that someone is trying to deceive me into thinking that I am getting something for a bargain. I despise the nine tenths of a cent that is added to the price of gasoline. I thought years ago that when the price of gasoline would reach $1.00 a gallon, they would leave the nine tenths of a cent off. But they didn't. I guess if gasoline reaches $100.00 a gallon, they will still add that nine tenths of a cent. I just don't like anything that looks like deception. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 1, 2009 Report Share Posted February 1, 2009 I vote for round numbers. And, I don't do anything for only $80, nor $79.95 either. Quote Link to comment Share on other sites More sharing options...
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