Archive for the ‘2007 tax rebate anticipation loan’ tag
No economic stimulus refund anticipation loans (tax rebate loans) for you!
photo credit: Photo-Mojo
From the source itself -
link
Q. I chose direct deposit for my 2007 tax refund
but also requested a Refund Anticipation Loan (RAL) from my preparer.
How does that affect my stimulus payment?A. Taxpayers who use RALs or enter into any other loan
or financial agreement with their tax professional
cannot receive their stimulus payments by Direct Deposit
and instead will get a paper check.Q. Can my stimulus payment be directly deposited
onto a stored value card or debit card where a
bank product such as a RAL/RAC is not involved?A. No. [New 4/14/08]
the IRS list of Error Codes for Economic Stimulus Returns
Also, returns with a foreign address or a U.S. Possesions address won’t get ‘em either.
And don’t go adding extraneous paperwork to that Economic Stimulus Tax return either.
| 0246 | Form 1040A – Economic Stimulus Payment with a U.S. Possessions or foreign address can not claim the Stimulus Payment. |
|---|---|
| 0248 | Form 1040/1040A Refund Anticipation Loan (RAL) cannot be requested with the Economic Stimulus Payment Return. |
| 0249 | Form 1040A – Attachments other than Forms 8901 (Information on Qualifying Children Who Are Not Dependents), Auth Record, Summary Record and Forms W-2 can not be filed with an Economic Stimulus Payment Return. |
