A Cash Refund? At Wal-Mart?
Time seems to stand still when you are waiting for your tax refund to arrive. This year will be no exception, as most reports indicate refunds may be slowed due to a decrease in the IRS’ budget. But there may be another option. If you normally receive your refund via paper check or direct deposit, you might have the opportunity to receive cash instead.
Mega superstore Wal-Mart is offering customers the choice to receive a cash refund in the store. This unique option will work like this:
- Wal-Mart will not charge a fee to hand out your tax refund in cash, but your preparer might.
- The cash option will not necessarily be any faster than direct deposit, but it will result in paper money in your hands.
- A confirmation code will be given to you if you wish to get a cash refund at Wal-Mart, and all you need do is present a valid ID with the code in order to cash out.
- You may not take advantage of this program if you prepare your taxes without a professional’s assistance, and do so online.
- Having cash instead of a receiving a direct deposit is most beneficial to people without bank accounts.
Make no mistake, Wal-Mart also benefits. Having a line of people in their stores with money in their pockets to burn could lead to increased store sales. Tax preparers are getting in on this program as well, by setting up stations in Wal-Marts and offering gift cards when their services are used.
For answers to your questions about taxes, call our office for help. Let the professionals at Nielsen Law Group help you with all your tax related issues. Call (480) 888-7111 or submit a web request here.