Would You Want Your Tax Return on a Debit Card? [Poll]
The state appears to be moving forward with a plan to provide tax returns on a pre-loaded debit card. Is that how you want your money back?
Don’t want to use direct deposit for your state income tax return? That may leave you waiting for a debit card this year instead of a paper check.
The state Department of Revenue Services is making a move that will eliminate paper checks, instead turning to debit cards for residents. Those receiving under $10,000 from their income tax returns and live in the United States
According to an article published Tuesday on the Hartford Courant Web site, approximately one million people received some form of income tax return and about 470,000 filers received checks instead of opting to use the direct deposit systems.
This year, they will instead receive a card, the Courant writes:
If filers don't choose direct deposit this year, their money will come in the form of a debit card, in a program paid for and administered by JP Morgan Chase and People's United Bank.
The program may be part of the paperless movement, but it has left some state legislators, including State Rep. Rob Sampson, concerned that it could create an inconvenience for those looking to deposit the refund into their banking accounts to pay bills. Even worse, the change to debit cards could even lead security issues by increasing the chance for theft.
Sampson, R-Southington and Wolcott, said he would rather see people given checks so they can deposit the money or cash the check as they wish.
“It’s not a move I’m in favor of,” Sampson said. “What happens if it is stolen? The cards could be used for smaller purchases at a number of locations without any identification. People should be given the option of whether they want a card or a check.”
So where do you stand? Would you prefer a check, a card or do you use direct deposit? Be sure to vote in our poll and share your comments below.
