Do you pay extra to get your tax returns faster?

United States
January 10, 2011 4:01pm CST
I was thinking since our savings is about kaput and bills need to be paid constantly... that perhaps we'd pay the extra fee to get our refund faster. As I know some places & websites for taxes charge you extra to electronically file when we all know they make a mint off of us. Same with the tax preparers who charge you a fee for giving you basically a cash advance on your refund. Is it worth it? What is your opinion on this?
4 people like this
21 responses
@lilybug (21107)
• United States
11 Jan 11
I have done it before when I was really broke and needed the money like yesterday. I am tempted to do it this year just because my car took a dump last week and I am borrowing my dad's truck till I have the money to fix mine or get a different one. It is a lot of money to pay, especially since I know how to do my own taxes with no problem.
1 person likes this
• United States
5 Feb 11
If you can do your own taxes, go via Turbo Tax or Tax Act and you'll get it back and you still did it for yourself.
@dragon54u (31636)
• United States
11 Jan 11
I would not do this. What you really need to do is look over your tax forms--if you are getting a refund each year you are not claiming enough on your W2 or whatever it is called. Why let the gov't use your money when you can keep it in your pocket? Ideally, you should owe nothing and be owed nothing at tax time.
1 person likes this
@lingli_78 (12822)
• Australia
11 Jan 11
no, i've never done that before... i always do my tax returns by myself as i think it is not worth it to get an accountant to do it for me... the cost to get an accountant to do the tax returns here is quite expensive and since i am just doing a basic and simple tax returns, i prefer to do it myself... take care and have a nice day...
1 person likes this
@katsmeow1213 (28717)
• United States
10 Jan 11
I do my taxes online at H&R Block.com.. have done so for years. To e-file your federal returns is free.. my state returns cost $30 to e-file, not sure why. We choose to get our refund direct deposited into our bank account, which speeds up the process. The IRS has a website that shows when you can expect your refund based on the date you e-filed. If you e-file before Feb 3, you can expect your refund in your bank account by Feb 11 or a paper check mailed by Feb 18th. For the full list here's the link.. http://www.efile.com/tax-refund/where-is-my-refund/ I see no point in paying a couple hundred dollars to have your money a week or two sooner, unless you've got a power shut off notice or eviction notice. Other bills can wait the extra couple weeks.. even if they are shut off for a short time.
1 person likes this
@missybear (11391)
• United States
11 Jan 11
I still do mine the old fashioned way....I fill them out myself send them by mail and wait patiently for my check. It used to take 6 weeks but now since most people file electronic I get them back in 4 weeks. I figure I've been broke that long what's another week or 2. Plus I always get them back around my Birthday that way so I take a little vacation and actually have some money to do it with
1 person likes this
@sender621 (14894)
• United States
11 Jan 11
I am usually patient at waiting for my tax return. I know the money is coming and i am willing to wait for it. I do have relatives who are very anxious at this time of the year. They would gladly pay the extra fee to have the money get to them faster. They don't always spend it wisely though. Perhaps they should just wait patiently instead.
@cher913 (25782)
• Canada
11 Jan 11
no, my hubby is usually the one that people go to to get theirs done. he just buys a computer program for it every year and its easily done.
@Savvynlady (3684)
• United States
5 Feb 11
To answer your question, I would say, count the costs. To go to your average tax preparation operation, they WILL charge you a couple hundred dollars that is going to come out of your income tax return,so that you don't pay them and you can get your money back within a couple of days to a week. On the other hand, you can go and get Turbo Tax(or get it online like I did this year) fill out my own paperwork and pay less than a hundred for my troubles and can still get it deposited to my checking account within a week to fourteen days. When you go to a tax place, basically they are giving you a Refund Anticipation Loan, which is a loan against your income taxes coming back formally from the IRS and which is also why they charge you the extra stuff. I did that for a couple of years until I took an income tax preparation class to do it for myself and help out others at VITA and did it for myself this year. So, again, count the costs and check it out for yourself although I can tell from your question you know this.
• United States
5 Feb 11
Just another thought, if you make less than $50G, please consider getting them done by VITA, who will do them for free, electronically file it if you will and can still get it back within the same time frame as one would a RAL. just my opinion but it seems to me when you make less, folks are more willing to take more of it and sometimes you just don't have it to take. I have been getting mine done from a neighborhood tax person for years but this past fall I took a class to do them and when I went to see what I'll get back from him as opposed to what I did when i did it myself, I got more back when I did it myself.
• United States
14 Jan 11
if you're getting a lot back,it's worth it. but for a piddly refund,i wouldn't bother.fee might be more than the return.
@SomeCowgirl (32191)
• United States
3 Jul 11
Mine is electronic, I like that as I don't have to worry about getting the check deposited or whatnot. Mine is usually paid back pretty swiftly anyway so I don't worry about paying the extra myself. I got mine back and it didn't take too long, got it spent too, that didn't take too long either!
@savypat (20216)
• United States
11 Jan 11
If you need the money you have to do what you can. I do my taxes by computer and the fee to file electronically is very samll.
• United States
11 Jan 11
That is the fee I am debating on. To pay the small fee or to just put it in the mail, which of course will take longer for them to get & process.
@maezee (41997)
• United States
5 Feb 11
I don't pay anything extra for this!! Well not that I know of. I always have the same CPA family friend of ours do mine every year, and it costs me about $50. It's definitely worth it though. I think she submits it electronically though. I think..if you need the money, you need the money!!
@bounce58 (17387)
• Canada
10 Jan 11
Three or four years ago, I thought filing my income tax was going to get so convoluted that I went to a 'professional' tax preparer to get it done. They're the ones you find in the malls during tax season. It went pretty well, as they explained it to me clearly. Until of course when I got the bill, which was close to $200! So now, I do it myself even if I go half-crazy figuring it out.
• United States
11 Jan 11
Yeah I know that's why we do Turbo Tax now. I couldn't see paying that when we have a fairly simple return not rocket science w/ Turbo Tax, vs the standard paper forms.
@kingparker (9673)
• United States
5 Mar 11
If you don't need that cash quickly or you can wait for it patiently. you don't have to pay extra though. You just wait for it to come to you. Why would you like to pay extra for it instead of having more money in your pocket right? All you have to do just be patient yourself.
• United States
10 Jan 11
I would never pay extra, no matter how desperate I was! but until the last few years we were on the other end...we owed them! My response was always ...refund! Whats that? I have a daughter that has paid up to $300 to get them back early...what could you do with that amount of $$$??? Ask yourself that ? when you make the decision!
@GardenGerty (157551)
• United States
10 Jan 11
Generally I need every dollar so that I do not pay extra to get it faster. On the other hand, if getting it quicker keeps you from paying late fees equal to the cost I would say to go for it.
@chertsy (3798)
• United States
11 Jan 11
Why pay extra to get your returns faster. Just go to the IRS website, which is irs.gov on the 14th. Many tax programs offer their services free, along with efile, for people. Why pay more to get them faster, when you can do the same thing for free.
• United States
10 Jan 11
Yes, but primarily it depends on how much you are getting back, versus how desperate one needs it. I get mine done by a CPA so the fee is only $30, for me to get it quicker. So with the whooping amount that I use to get it was well worth. If a person owes taxes, and or has some kind of judgment, it would not be worth to assure the government keeps it quicker. LOL..
@2004cqui (2812)
• United States
10 Jan 11
I'm cheap to the bone. My mother said it was the Scotch in me (not the booze either). I did our taxes myself until last year. I worked it out so that we would stay within $200 either way. The Government nor anyone else can have my money interest free. When they owe me I send it in as soon as possible. When I owe them I send it in on the evening of April 15th. This drives my husband nuts. But with that said I won't pay out to get ours earlier. But that's just me.
@asyria51 (2861)
• United States
10 Jan 11
Last year, using Turbo tax, I got my refund from the Federal Government withing 15 days. The state taxes took longer for me to receive a refund. My dad worked for one of the tax prep sites and he said that it was not worth it. He said it was like getting a short term loan and paying like 45% APR.