Refunds are mailed out about three weeks later and any amount owed is still not due until April 15. According to Larry Mosblech, the EIC coordinator for the St. Louis District IRS Office, the system was piloted in several locations last year. We're encouraging eligible taxpayers to use the system. About 23 million taxpayers will receive a special PIN and instructions for using the new paperless system. Filing electronically means the refund will still come back sooner than if the return had been mailed.
Quick refunds are really short-term loans.
If your refund doesn't come back from IRS in the amount calculated, you must pay the commercial preparer the difference. Because the IRS has tightened up on the rules for quick refund providers, the business is considered much riskier and many providers have increased fees or quit making the loans. While most taxpayers might agree that taxes are a necessary evil, they would be much less likely to agree about whether a tax is fair or not. When it comes to taxes, fairness usually means that how much tax a citizen must pay is somehow related to their ability to pay. Since not all taxpayers have the same income or assets available to pay their taxes, a tax which is equal for all taxpayers is not necessarily the most fair.