This is a loan.
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Specifically, this is a refund anticipation
loan.
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You are not required to enter into this refund
anticipation loan agreement merely because you have received this
information.
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If you do sign a contract for a refund anticipation
loan, you will be taking out a loan, and you will be responsible for
repayment of the entire loan amount and all related costs and fees,
regardless of how much money you actually receive in your tax refund.
If your tax refund is less than expected, you must still repay the
entire amount of the loan.
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If you do not take out this refund anticipation
loan, you are eligible to receive a gross tax refund of approximately
$ ____ [insert amount].
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If you do take out this refund anticipation
loan, you will be responsible to pay $_____ [insert amount] in interest
and fees for the loan. After these fees are paid, you will receive
approximately $____ [insert amount].
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If your refund is delayed, you may have to pay
additional fees and interest.
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The estimated annual percentage rate of your
refund anticipation loan is _____% [insert amount]. This is based
on the estimated amount of time you will have borrowed money through
this refund anticipation loan.
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If you do take out this refund anticipation
loan, you can expect to receive your loan in approximately one to
two days.
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If you do not take out this refund anticipation
loan, you can still receive your tax refund quickly. If you file your
tax return electronically and receive your tax refund through the
mail, you can expect to receive your refund in approximately 15 to
22 days. If you file your tax return electronically and have your
tax refund directly deposited into a bank account, you can expect
to receive your refund in approximately eight to 15 days.
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You are paying $[insert the amount of the fee]
to get your refund check through [insert name of issuer of refund
anticipation check]. You can avoid this fee and still receive your
refund in eight to 15 days by having the IRS deposit your refund directly
into your own bank account or in 15 to 22 days by having the IRS mail
the check.
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