MADISON — All American Check Cashing reports several checks it cashed for customers of Instant Tax of Hattiesburg have been returned.
The checks were issued to Instant Tax customers as part of a rapid advance tax refund. The checks were issued by Tax Tree of Miami, Florida and written on Bank of America.
“While the refund anticipation loan industry has been highly successful, companies issuing non-sufficient fund checks could put the entire program at risk.” said Michael Gray, president of Madison-based All American. “As the 2012 tax season approaches, consumers need to be aware of potentially fraudulent tax loans and preparers. Many Mississippians look forward to their tax refund and any tax preparation company that issues denied tax checks could place the entire tax preparation industry in a bad light.
“As Mississippi’s leader in check cashing, we cashed over $21 million dollars in customer checks in 2011. If we withdraw our tax check cashing program, where would consumers get their check cashed immediately?”