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Wilsonn · Dec 26, 2006, 07:58 AM

This year there where no Fedreal Taxes taken out of my paycheck-will it still be possible to receive rapid refund from my federal taxes?

Dragonfire24 · Dec 26, 2006, 08:11 AM

If no federal taxes were taken out of your paycheck then you have nothing to claim in tax returns from federal.

Wilsonn · Dec 26, 2006, 10:07 AM

Originally Posted by Dragonfire24

If no federal taxes were taken out of your paycheck then you have nothing to claim in tax returns from federal.

Yes, I think I do -what about dependents?

Dragonfire24 · Dec 26, 2006, 10:12 AM

You should be able to claim the dependents. Don't know what you will get though.

AtlantaTaxExpert · Dec 26, 2006, 12:13 PM

What is your income level? With qualified dependents, you may qualify for the Earned Income Credit, depending on your income level. Even if you have NOTHING withheld from your paycheck, you can get an EIC.

Now, as for Rapid Refund, I strongly recommend you PASS on that option. Rapid Refund is a brand name for what is known as Refund Anticipation Loans (RAL).

EVERY RAL program I have reviewed is a TOTAL RIP-OFF!!

The tax preparers and bankswho offer these loans are charging you exorbitant fees to get you the money the next day, whereas if you just filed electronically and paid, at most, a $50 efile fee (in many cases, efiling is free), you would get ALL of your refund direct deposited into your checking or savings account in about ten (10) calendar days!

Tell me, is is really worth paying $200 to get a $2,000 refund tomorrow versus getting $2,200 put directly into your checking account a week from Friday? Think about it!