IRS to Implement CADE 2: Releasing Most Refunds in 5 Days
The IRS plans to implement CADE 2 this month. Under this initiative, up to 75% of all returns are expected to be processed under this new system, up to double the number processed under CADE last year. This change will finally set the stage for all returns to be moved to the new system.
Bank products released under the CADE system are typically released in as few as 5 to 7 business days of the IRS receiving the tax return. This is much faster from the traditional 9 to 14 days. With the FDIC instructing all banks to discontinue RALs (Refund Anticipation Loans), this will be a boost for taxpayers who need their refunds quickly.
As in the past, we offer IRS mailed checks and direct deposit as a means to receive your refund. However, taxpayers who have no funds to pay up front should find even more value in bank products such as Warren Tax Service now provides.. Electronic Refund Checks (ERCs) written in our office and Electronic Refund Deposits (ERDs) deposited to your bank account.. These two bank options provide a secure mechanism to receive your refund proceeds and easily pay for tax preparation services with no out-of-pocket expenses.
For more information on all our refund options, call 618-847-3325.
*excerpts from Refund-Advantage.com