Local Business Owner Philip Fleishman of Pas Bookkeeping & Tax Prep Inc Says Minority Taxpayers Are Purposely Being Overcharged and Challenge H&r Block

Charleston, SC, February 21, 2011 --(PR.com)-- Recently local business owner Philip Fleishman of PAS Bookkeeping & Tax Prep upset the tax preparation industry while filming a program now airing on FOX 24 and MyCharleston 36 with the Reverend Stephanie Green. While much of his comments were edited from the final cut, enough of his comments remained. Mr. Fleishman, while posing a challenge to the viewers to donate the savings they could obtain in their tax preparation fees, specifically mentioned the costs taxpayers do not see in having their fees withdrawn from their refund checks. Of special concern were the rapid refunds we see from many companies in the area that target minorities or uneducated taxpayers.

In researching the comment calls were placed to H&R Block, Pinnacle One, and Liberty Tax Service. Not only did these companies not provide tax preparation costs, nor would they discuss the rapid refund fees or the interest that is charged for the rapid refunds. Indeed, in some cases interest is not charged; however, other fees specifically for the rapid refund were disclosed but the fees themselves were based on the refund amount. This sounds like interest to me.

During 2010 the Internal Revenue Service discontinued providing the code commonly referred to as the “debt Indicator” to rapid refund providers. As a result, funding for rapid refunds for many companies, including H& Block, has dried up. According to the Internal Revenue Service, this has only caused costs for Rapid Refunds in increase even more. In the case of H&R Block, the Internal revenue Service reports the Comptroller of the Currency has disallowed the bank used by H&R Block from funding Rapid Refunds.

Mr. Fleishman encourages all taxpayers to be smart and ask the questions regarding costs. Taxpayers should recognize all of the different options available and how much of your refund is being taken in fees. If it seems too good to be true, then it most likely is not. If you would like more information, Mr. Fleishman is a local businessman that picks up his phone personally. He can be reached at (843) 224-6875 or can be emailed at phil@palmettoaccounting.com.

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