Report: #1120363

Complaint Review: Tax Net Financial

  • Submitted: Sun, February 02, 2014
  • Updated: Fri, February 14, 2014
  • Reported By: Carol — Pottstown Pennsylvania
  • Tax Net Financial
    401 N. Michigan Ave Suite 1200
    Chicago, Illinois

Show customers why they should trust your business over your competitors...

 On January 6, 2014, I saw Tax Net Financial advertisment for RAL, refund anticipation loan. I filled out the application, the next day I received an email asking me to sign my documents. I read through the documents and realized this was basically a scam and I did not wish to proceed any further. They were offering tax payers $1000.00 loans against thier tax refund.

They stated it was a $57.00 finance charge, and they would process the loan for a total amount of $1057.00, if I was approved I would receive $655.00 in my account within 24 hours. This is when I realized they were just taking advantage of people who needed thier tax refunds sooner rather than later. They claim to be deducting an additional $345.00 from the loan for the tax preparation fees. Then when I receive my actual refund from the IRS, Tax Net Financial would deduct $1057.00 from refund and dispurse the balance to my account.

I get my taxes done for free every year since I make under $58,000 or whatever the exact amount is, so there was no way I'm going to pay $345.00 when I file them myself online and it takes about 10 minutes for a 1040 EZ, very simple return. Then they expected me to pay back $1057.00, for the $655.00 they were going to deposit in my account and the $345.00 they lent me so I can pay them and the $57.00 interest charge.

I did not sign the documents, and I replied to the email stating I no longer was interested in thier services and I do not wish to proceed any further, and I called thier toll free number spoke to a customer service representative and explained I did not want to use them as my tax preparer and I was not paying $345.00 for them to process my tax return, the representative advised as long as I did not sign the documents they could not proceed.

Today I received an email from H&R Block that my 2013 tax return was rejected. It was rejected because the IRS has already received a return with my social security number for 2013. At first I couldn't imagine why or how they already have a return and then I remembered Tax Net Financial. I pulled up their emails and mine and went to their website and they have an option to check your refund, sure enough they have record that my return was accepted by the IRS. I'm going to call an attorney tomorrow morning since I made myself very clear I did not want to use them as my tax preparer.

The worst part is they have my refund at $4094.00, then they will deduct their fees for $345.00. Once I got all my tax information back in the mail I did my taxes through H&R Block like I do every year, my refund was $8149.00. I'm a single mom with 2 children, and I was really counting on this money and because of this greedy company who is clearly breaking the law I will be lucky if I get $3749.00. I'm furious and I plan to call every agency I can. Please stay away from Tax Net Financial

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#1 Author of original report

Processed Refund without signature or consent

AUTHOR: Carol - ()

Hello, I'm responding to riri. I finally received a call from Mr. Lloyd Wilson in June 2014, offering me 189.00 of the 345.00 fee they took from my refund to process my taxes which I never wanted them to process in the first place. Since they didn't have all my tax information the refund they processed was approximately $4,000 then they deducted the $345.00. When my taxes were completed correctly my refund was about $8149.00. I'm sorry I don't remember the exact amounts. Tax Net offered to do an amended return for no charge.

About 3 weeks after they submitted the amended returning I received the amended return amd a letter from the IRS stating they did not receive the correct information in order to process the amended return. So I then sent the forms that Tax Net didn't send. So I did finally receive half the fee they charged and I did finally receive about 4189.00 from the IRS from my amended return in June 2014. I don't know how this is legal. I'm really sorry that they have done the same to you. Just keep on top of them, keep calling them, write letters and you might even want to notify the IRS. Good luck to you, I hope you get your money back.

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#2 Consumer Comment

Ever receive your funds?

AUTHOR: riri - ()

They just did the same thing to me.How is this legal? And do you end up getting your money?

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#3 Consumer Comment


AUTHOR: ahelton85 - ()

Please keep me updated. Have you heard anything yet about your refund? 

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#4 Consumer Comment


AUTHOR: ahelton85 - ()

To answer your question, yes, I applied for and received the loan proceeds in my checking account December 23rd. On January 8th I got an email stating my return had been accepted by the IRS. Now I keep getting the message that my return has been accepted by the IRS ànd I should receive my refund in less than 21 days....this is from their site. I will definitely call them in the morning to find out my exact amount and when I can expect it. I doubt I will do this again ax I also file my own taxes and usually get more back.

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#5 Author of original report

Nothing showing on IRS Where's My Refund

AUTHOR: Carol - ()

 In response to your question, no I have not been able to confirm that the IRS actually has my return. I did speak to a supervisor at Tax Net today and he claims it was an accident that my return was filed but they want to make it right. However, they are still charging me the fee of $345.00 for processing my taxes. According to the supervisor I spoke to I should have my refund Friday 2/7/2014 or Monday 2/10/2014 at the latest. Of course my refund is only half of what it should be, so now they will have to file an amended return and they will probably try and charge me an additional fee. You should call there customer service number and press option 3, wait to speak with a person. Good Luck, I hope we both get our refunds. Did you actually receive the loan? When you speak with someone if you want to be able to see refund on the IRS's website, make sure they give you the exact amount of your refund, that's probably the reason we can't see it, our refund amount could be different since they are deducting fees.

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#6 Consumer Comment

RAL loan received...

AUTHOR: ahelton85 - ()

This is not a rebuttal, I just have a question. I also applied for the loan and opted to receive it. I am now waiting on my tax refund that has been accepted....according to them. When checking the irs wheres my refund site, nothing comes up. Have you checked the irs wheres my refund site? If so, is it also saying your return was accepted? Atbthis point I don't know what to think.

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