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"Quick Definitions"
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| EIC |
Earned Income Credit |
| ELF |
Electronically filed. Sometimes called efile. |
| ERC |
Electronic Refund Check. Authorization is given to
the ERO to print the check when Republic Bank receives notification that the
IRS is going to deposit the taxpayer's refund. Taxpayer has use of their refund
in 7-14 days. |
| ERD |
Electronic Refund Deposit. The same as the (ERC)
except the refund is deposited into the taxpayers own bank after the refund is
deposited at Republic Bank by the IRS. Taxpayer has use of their refund in 9-16
days. |
| ERO |
Electronic Return Originator. The office which
accepts a tax return to be electronically filed. |
| RAL |
Refund Anticipation Loan. A loan against the
expected tax refund since the lender expects the refund to be Direct Deposited
at the lending bank to pay off the loan. Taxpayer has use of their refund in as
little as 24 hours. |
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