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0 pointsdeathanatos3y ago0 comments

I think the objection is not that they're charging a fee, it's that the fee is $39. TurboTax (just the basic federal edition) is what, $30? And yes, this is essentially credit, extended for what, a month? So ($39/$30 * 12) is yearly rate of like 1,560% for that credit, aka., highway robbery — that, I think, is the parent's point.

(I might be a bit off on the price, but not enough to change the result. TurboTax's loss if the debtor here "defaults" somehow is … what, even?)

0 comments

zerocrates3y ago

Plus they themselves have calculated that you're due a refund that will cover that cost already at this point, and they're going to directly pull their fees out of it... while not 100%, it's got to be pretty near the bottom in terms of risk. Especially if they still wait to pay you the balance until the refund is actually paid by the Treasury.

toast03y ago

There's a few risks they're taking still.

a) that you have an outstanding tax bill, or other garnishment, and while you overpaid, you will not be receiving a refund, and they'll need to find you to make payment some other way.

b) the return is fraudulent and they're going to have to pick up the pieces when the IRS figures it out and reverses the deposit. Plus, they didn't get paid.

Is that $40 of risk? Eh, probably not, but it's something.

perardi3y ago

Yes, the highway robbery of it, that’s my point. That is a huge percentage of the base price of TurboTax, and it is in no way less convenient than paying with a credit card, and they hide that fee down in the blah blah text.

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