• Report: #1006696

Complaint Review: Taxnet Financial Inc.

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  • Submitted: Thu, January 31, 2013
  • Updated: Thu, January 31, 2013

  • Reported By: iambecka — Queen City Texas United States of America
Taxnet Financial Inc.
401 N Michigan Ave., Ste. 1200, Internet United States of America


*UPDATE Employee: Taxnet Financial Inc Resolved

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Taxnet Financial, Inc.
401 N Michigan
Ave., Ste. 1200
IL 60611



Please help:

This company submitted a return that I still have never seen or signed. I requested a refund anticipation loan which they pretty much made it sound like it was a guarantee. I asked if I would be able to say yes or no after I found out how much the fees for tax preparation were because he had stated that it depended on how complicated my return was so they could not tell me how much it would be. All I was given was the cost of the RAL (based on $1,000.00 *(51.22 Finance Charge of $6.22 plus a $45.00 Loan Investigation Fee.

Then I was denied the RAL and no other communication given after I canceled all services, this was on Jan 3rd. Then on the 27th, I received an email stating that the IRS had accepted my return. WHAT!! I CANCELLED AND HAVE NOT SEEN MY RETURN. I was still waiting on my 1099-R's (5 in total. I feel I have been scammed and I believe that I am not the only one. These people need to be stopped.

This report was posted on Ripoff Report on 01/31/2013 11:18 AM and is a permanent record located here: http://www.ripoffreport.com/r/Taxnet-Financial-Inc/internet/Taxnet-Financial-Inc-SCAM-ARTISTS-DECEPTIVE-MISLEADING-FALSE-INFORMATION-DID-NOT-HAV-1006696. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 UPDATE Employee

Taxnet Financial Inc Resolved

AUTHOR: Taxnet Financial Inc - ()

Taxnet Financial Inc. is never satisfied when a client has a complaint. We are unable to share client information including the reason a client was denied for a RAL to a third party ;however, it is our policy that all consumers are required to read and sign RAL disclosures prior to applying for a RAL which includes the following: You have signed and been provided a copy of your tax return with your refund amount. You understand that your actual refund will be disbursed to you less any outstanding "RAL" amount, finance charges, and tax preparation fees as disclosed by the "RAL" Fee Schedule. Promise To Pay/Consent/Authorization/ Signature.

By signing below, I certify that I (including my spouse) acknowledge receiving a completed copy of this Application Agreement and that I have received, read, and understand the REFUND ANTICIPATED LOAN DISCLOSURE , PRIVACY NOTICES, and all applicable state disclosures. I certify that I agree to all the terms and provisions set forth in this Application/Agreement, including CERTIFICATION SECTION, WAIVER OF JURY TRIAL AND ARBITRATION section and the terms and provisions which are specifically incorporated herein by reference, and acknowledge receiving a completed copy of each of them.

I further certify that everything herein is correct to the best of my knowledge, that this Application/Agreement is based on a bona fide federal and state (if applicable) income tax return and the tax return is true, complete, and accurate in all respects. I authorize F.L.A.G. a division of Taxnet Financial Inc. to inquire of the IRS, state taxing authority (if applicable), my employer or any agency providing information on my behalf. I (including my spouse if filing jointly) authorize F.L.A.G. a division of Taxnet Financial Inc. to investigate and verify all information I (including my spouse) provided to Taxnet Financial Inc.

In the event a RAL is applied for and granted, I promise to pay to F.L.A.G a division of Taxnet Financial Inc., its successors and/or assigns, ten (10) calendar days from the day I receive my RAL proceeds, the RAL amount, which is allocated and designated as RAL Funding as described in the Refund Anticipated Loan Fee Schedule. Remember You can file your tax return electronically without applying for a Refund Anticipation Loan (“RAL”), and obtain your refund from the Internal Revenue Service (“IRS”) to avoid finance charges. For example, If you file your tax return electronically, you can receive a refund check from the “IRS” within 21 to 28 days, or a direct deposit to your bank account in as few as 10 to 21 days from the time you file your tax return. Electronic Refund Deposit (ERD) allows filing without paying upfront fees to your tax preparer.

Please be responsible and consider all refund options prior to applying for a loan product. Conclusion: Taxnet FInancial Inc. is a member of the Better Business Bureau "BBB" and this trusted organization has determined that TaxNet Financial, Inc. meets BBB accreditation standards, which includes a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public. BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

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