PNS National Newscast

Audio Activation
"Siri, play the Public News Service (podcast)"
"Hey Google, play the Public News Service podcast"
"Alexa, play Public News Service podcast"
or "Alexa, what's my news flash?" once you set it up in the Alexa app

2020Talks

Audio Activation
"Siri, play the 2020Talks podcast"
"Hey Google, play the 2020Talks podcast"
"Alexa, play Two-Thousand-Twenty Talks podcast"
or "Alexa, what's my news flash?" once you set it up in the Alexa app

Newscasts

PNS Daily Newscast - September 25, 2020 


Democrats reported to be preparing a smaller pandemic relief package; vote-by-mail awaits a court decision in Montana.


2020Talks - September 25, 2020 


Senators respond to President Donald Trump's refusal to commit to a peaceful transfer of power. And, former military and national security officials endorse Joe Biden.

“Instant Refund” or Instant Rip-Off? Beware the RAL

February 10, 2009

It just makes sense to use caution when selecting someone to help with your income tax preparation. However, some advise being especially wary of preparers who offer "Refund Anticipation Loans" (RALs) during income tax season. That's because, in some cases, these "instant" refunds are really loans with exorbitant interest rates.

While the upfront cash might sound good to recession-strapped consumers, Karen Boorshtein of the Family Service League (FSL) warns: just stay away.

"Anything that looks too good to be true, it probably is too good to be true. You need to be skeptical. No one should be giving you a refund, or anything back, that quickly. The consumer's the one getting caught in this type of deal. They don't have the resources to have paid for it, and now, are finding they're stuck with a high loan, having to pay someone back money they don't have."

Boorshtein, FSL's president and CEO, acknowledges that it can be tough to afford the prices of reputable tax preparation services. However, if they're really in need, she says, nonprofit organizations in most communities may be able to help.

"Look to see what the other resources are in the community. Many nonprofits do get involved in activities such as this, and can be of some assistance."

Preparers offering RALs say instant cash is better than waiting up to 15 days for a direct deposit refund from the Internal Revenue Service, or three to eight weeks for a mailed IRS check. But consumer groups are unanimous in advising people to say "no" to Refund Anticipation Loans.

Mark Scheerer, Public News Service - NY