Which prepaid cards are best for tax refunds

Since tax season began on January 23 this year, more than 19 million Americans have filed their claims to date, including already about 8 million refund checks have been sent via direct deposit.

However, for those taxpayers who do not have a bank account and are wondering where they can get their income from the Internal Revenue Service (IRS). There is an easy way to do this with prepaid debit cards.this will be one of many ways to get money and be able to use it just like any other card.

According to cardrates.com, the most recommended prepaid cards are those held by international financial services such as: Visa, MasterCard, American Express and Walmart MoneyCard, This last one supported by a retail network that can be obtained without social security. These cards are accepted in most stores, both physical and electronic.

Most refunds are received by check sent to the taxpayer’s email, so having a prepaid debit card is a big plus; This is not only an advantage for people who do not have a bank account.

Also, when withdrawing money from ATMs, commissions are low. Even some tax authorities note that additional money can be obtained. through discounts, if this type of method is used to obtain a refund.

This year, the IRS announced that US taxpayers will receive an 11% reduction in refunds as benefits that existed during the pandemic will no longer apply. Thus, the average amount will be $1,963 thousand dollars.notable exceptions that will no longer exist are the child tax credit, the earned income tax credit, and the dependent child care credit.

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Author: Arlenis Tabare
Source: La Opinion

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