Do you want to get your Tax Refund Money FAST?
No one can get your Tax Refund Anticipation Loan Money faster than Peoples Tax!
Our tax preparation fees are competitive with the fees of the national tax firms – see Sample Pricing. We offer a Triple Guarantee of Accuracy, Year-round Service and Satisfaction – or you pay no fee!
Peoples offers a number of affordable ways to get your tax refund money fast. See the chart below and talk to your Peoples Tax Advisor to determine the right product for you. Bank products are offered through Republic Bank & Trust Company.
Questions? Read the details below or call Peoples at 204-1040
| Available Bank Products |
Bank Fee | Estimated Availability of Funds |
Refund Amount |
Tax Preparation Fees |
| Refund Anticipation Loan |
$61.22* | Usually 24 hours or less but can take up to 1-4 days |
$1,500 net proceeds within 24 hours of IRS acceptance of tax return |
Can be deducted from refund |
| Electronic Refund Checks & Deposits Bank Check or Direct Deposit |
$29.95* | 7-13 days | Entire refund amount less any bank product & tax preparation fees |
Can be deducted from refund |
How Does It Work? Easy!
- Just stop by the most convenient Peoples Tax Office near you – walk-ins are welcome and appointments are available.
- Bring us your W-2s and other tax info
- We’ll prepare and e-file your taxes to the IRS and the Bank
Additional Services Available through Other Partners:
- Low Cost Check Cashing
Tax Refund Money in as little as 24 Hours
Refund Anticipation Loan (RAL)
What is a Refund Anticipation Loan?
A Refund Anticipation Loan (RAL) is a loan secured by your tax refund and may be applied for in addition to an ERC or ERD. RALs are available in the amount of $1,561.22 only. If approved for a RAL, a Finance Charge and Credit Investigation Fee will apply. RAL proceeds are available within 24 hours of IRS acceptance. A Tax Refund Administration Fee and other fees may apply for the ERC or ERD, and will be deducted from the customer’s tax refund. Visit your tax preparer to learn about all filing and product options, including obtaining your refund without a loan and at no additional cost.
How does it work?
If you are expecting a refund of at least $2,000 and have enough to cover the loan plus all fees, you have the option to apply for a RAL loan in the amount of $1,561.22. in addition to your ERC or ERD. If approved, your loan proceeds of $1.500 will be released typically within 24 hours of IRS acceptance of your tax return. When your refund money is received by Republic Bank, it is used to repay the RAL Loan. Republic Bank’s $29.95 Tax Refund Administration Fee and all tax preparation and other fees will be deducted from the remaining refund and forwarded as you direct in your application. The remaining funds in excess of the loan payoff and those fees will be issued to you as an ERC or ERD, depending on the disbursement option you selected.
What are the Benefits?
If approved, you can receive a loan check based on your anticipated refund typically within 24 hours of IRS acceptance of your tax return.
*What does it cost?
If approved for a RAL, you will be charged a $16.22 Finance Charge and a Credit Investigation Fee of $45.00 by Republic Bank for a total of $61.22 with an APR of 124.14%.
Tax Refund Money in 7-13 Days
Electronic Refund Checks & Deposits
What is an Electronic Refund Check and an Electronic Refund Deposit?
You receive an amount equal to your anticipated federal income tax refund (less fees) when the bank receives your actual refund from the IRS or state.
How does it work?
Your refund is direct deposited from the IRS or State with Rebulic Bank & Trust Company (“Republic Bank”). Republic Bank’s $29.95 Tax Refund Administration Fee is deducted from your refund amount. Additionally, all tax preparation and other fees are deducted from your refund and forwarded as you direct in your application. The remainder of your refund is disbursed by a bank check printed at the tax office (ERC) or direct deposited to your personal bank account.
How long does it take to get my money?
The timing of refund depends on when the IRS or State releases your refund to Republic Bank. Normally the IRS releases a direct deposit from an e-filed return in 7 to 13 days. Once received at Republic Bank, we immediately process the refund by deducting the fees and then releasing a direct deposit to your bank account or by issuing a check for your tax preparer to print at their office, depending on the disbursement option you selected.
Please be aware that for an ERD your bank may take additional time to process a direct deposit.
What are the benefits?
With an ERC or ERD, you can have your taxes professionally prepared and pay your tax prep fees with your refund. Also, if you don’t have a bank account, an ERC gives you the benefit of having the IRS or State direct deposit your refund directly with Republic Bank rather than mailing you a paper check which takes an estimated 9-15 days from the time you file your return.
*What does it cost?
If you choose to have your Federal and/or State refund deposited with Republic Bank, you will be charged a $29.95 Tax Refund Administration Fee by Republic Bank. The fee will be charged only once and will be deducted from whichever refund is received first. Additional fees charged by your tax preparer for preparation and filing of returns may apply.
What else should I know about ERCs, ERDs, and RALs?
- If you are owed a federal tax refund, you can choose how to receive it. Of the options available to you, there are free ways to obtain your refund without extra fees or a loan.
- A RAL Loan is a loan secured by your tax refund and may be applied for in addition to an ERC or ERD. If approved for a RAL Loan, a Finance Charge and Credit Investigation Fee will apply.
- Your federal and/or State tax refund will be used to pay back the RAL Loan. if your tax refund is not received by Republic Bank, or is not sufficient to repay the loan, you are responsible for repayment of the RAL Loan.
- When your refund money is received by Republic Bank, it is used to repay the RAL Loan. Republic Bank’s $29.95 Tax Refund Administration Fee and all tax preparation and other fees will be deducted from the remaining refund and forwarded as you direct in your application. The remaining funds in excess of the loan payoff and those fees will be issued to you as an ERC or ERD, depending on the disbursement option you selected.
- A RAL Loan may cost substantially more than other sources of credit. Before applying for a RAL Loan, you should consider whether a RAL Loan is consistent with your personal needs and financial circumstances.
- If you are claiming the earned income tax credit (EITC), the costs of a RAL Loan or any other Bank Product will deducted from, and can substantially reduce, your EITC benefits.
- If you want to apply for a RAL Loan, you must apply as an individual even if you are married and filing jointly. Only one taxpayer can apply for a RAL Loan. It is soley your choice to decide who applies for the RAL Loan. Only the applicant will be held liable for repayment of the loan and only their name will appear on the RAL Loan check. ERC/ERD funds in excess of the loan payoff and those fees will be issued to all taxpayers listed on the return.
- You can cancel your RAL Loan within 48 hours of the time you receive the RAL Loan proceeds by returning to your tax preparer or contacting Republic Bank at 866-581-1040.
- If you have an outstanding RAL Loan debt with Republic Bank from a prior year tax season and do not want some or all of your tax refund to be used to repay an outstanding debt on an unpaid RAL Loan, do not apply for a RAL, ERC or ERD through Republic Bank.
- If your RAL Loan application is not approved, you will still receive an ERC or ERD, depending on the disbursement option you selected, and a Tax Refund Administration Fee of $29.95, tax preparation and all other fees will be deducted from your tax refund. You will not be charged a Finance Charge or Credit Investigation Fee if your RAL Loan application is not approved.
Low Cost Check Cashing
What is a Refund Anticipation Loan?
Republic Bank customers can save money by taking advantage of the following affordable and convenient check cashing options! Although considerable resources are invested in coordinating these relationships, Republic Bank and Peoples Income Tax receive absolutely no compensation from the cashing of our checks.
Bank Affiliations
- Wells Fargo and Wachovia locations cash TRS checks usually for a flat fee. The limit for checks issued on Wells Fargo check stock is $8,000 and the limit for Republic Bank check stock is $5,000.
- Republic Bank locations cash all TRS checks for no fee.
Retail Partners
- Walmart- At Walmart, checks $1,000 to $5,000 can be verified automatically and cashed for $6. Checks less than $1,000 will cost 1%, up to $3, to be cashed.
Currently, check cashing at Walmart is not available in NJ, NY and RI. Also, the check cashing limit at Walmart in the state of Florida is $2,000.00.
- Grocery Chains & Convenience Stores – Our check data is also integrated with a network of grocery chains and convenience stores throughout the country, many of which are listed below.
Check cashing fees and limits can vary by company and region. Please contact us at 888-676-2056 for details specific to your area.