Buck$ Back Can Help With Tax Preparation

Q.      It is that time of year and I am getting ready to have my taxes done.  My husband, who usually did our taxes online, is recently deceased and I do not know how to use a computer.  I will need to have someone else prepare them for me.

I have heard though that some of these tax preparation companies offer to advance you more of a refund than you will actually get back.  This is done with the understanding that you will have to repay the additional money with interest set at a high rate. 

I have a very limited budget and would not be able to pay back the extra money they are offering me.  Can you give me any advice?  T.T., Fairless Hills

A.      The “instant refund” is what you are referring to and that was called a “refund anticipation” loan. As of this year, that type of loan is no longer legally available.  No one should be offering you this type of loan.

There were really high interests rates attached to this type of loan and did not really benefit the consumers.   

The good news is that, because of what your annual income is, you are eligible to have your taxes prepared with a program called "Buck$ Back."  

This is a special program operated by a partnership of the U.S. Internal Revenue Service and the Bucks County Opportunity Council for Bucks County residents with earnings less than $50,000 annually. In its ninth year of operation it is funded by several sources including the Bucks County Commissioners. 

If interested, visit www.bcoc.org and click Buck$Back, or call the Opportunity Council at 215-345-8175, ext. 221 for more details.