Earlier this year, the AICPA urged Congress to restrict or ban Refund Anticipation Loans. There are a lot of sins associated with RALs. But it's a system to fix, not junk.
The anti-RAL position was taken in testimony given before the Senate Finance Committee this summer by Robert A. Zarzar, chair of the AICPA's tax executive committee, regarding the Tax and Administration and Good Government Act, which is awaiting action by House and Senate conference committees to iron out difference.
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