N.J. Warns Of Deceptive Instant Tax Refund Offers

tax returnThe state Division of Consumer Affairs is accusing five companies in New Jersey of false and misleading advertising of “instant,” “same-day” and “24-hour” tax refunds. Consumer Affairs investigators found the businesses falsely advertised the refunds in storefront signs, posters or fliers. The state is seeking civil fines of $1,500 for each violation—for a total of $7,500—and reimbursements of $250 each for investigative costs.

The businesses cited are: Demian & Co. in Cranford, MB Motor Sports in Tinton Falls, City Tax in Jersey City, Girotel NJ in Union City and Personal Touch Taxes in Newark.

The division said a law enforcement task force inspected 574 tax preparation offices to search for deceptive advertising for tax refunds that were actually a pitch for high-interest loans. Read more in Star Ledger.

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  1. As someone who works in a firm that offers these type of loans let me say: We advise all of our clients NOT to take these loans but most of those who take them are either (1) so desperate for the money they inssist on these loans or (2) don’t want to pay the accounting fee upfront.Making them illegal is not doing anyone a favor.I will acknowledge that people who take these loans never request a reduced rate and pay whatever my firm puts down because when the money is being taken out of a refund you don’t realize how much you are paying.

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