credit information to identify individuals with unacceptable credit histories when validation is complete a deposit loan account 40 is created at a authorized financial institution e g bank credit union saving and loan association etc that issues advance payments of taxpayer refunds to accomplish this in the present embodiment the authorized financial institution programs a data processor means in accordance with the program flow chart of appendix ii which is more fully described hereinafter after creation of the deposit loan account file 40 the tax return data is electronically filed with the taxing authority as indicated in block 50 in the present embodiment the taxing authority is the irs and the tax preparer and return data is supplied via electronic transmission to designated irs computers this data also includes identification of the deposit loan account which is designated to receive electronic fund transfer refunds directly from the irs through the treasury department 39 s ach system as soon as the validated tax return data and loan application data have been processed and a refund amount is determined the refund loan payment procedure 60 is initiated the payor authorized financial institution may have set a maximum amount rmax for example 2 500 which it will immediately pay out as a refund loan therefore a determination is made as to whether or not the claimed refund exceeds this amount if that is the case excess refund processing is entered and.