![]() ![]() You can complete your own federal income tax return online using their software. You’ll have to pay to have your tax return processed, but Jackson Hewitt® states that your loan is available within minutes and loaded onto a prepaid card. To apply for one of their tax advance loans, you need to meet with one of their tax preparation specialists in person. If you use their services, you may apply for an Early Refund Advance loan, the Refund Tax Advance loan or the No Fee Refund Advance loan. Jackson Hewitt ® offers several types of advance loans during January and February. You have to be 18 years of age or older to file your tax return with one of their specialists. ![]() You pay to process your tax return, but your money becomes available the same day and is accessible on a prepaid credit card. Your federal tax refund must be no less than $250. There are no loan fees or interest charges. The application is easy and processed during January and February. H&R Block® provides tax refund loans without impacting your credit score. You can get a cash advance on your tax refund from any reputable lender or tax preparation company that offers tax advance refund loan services.Ī few tax preparation service providers you may want to consider include: H&R Block® Using payday loans (although we don’t recommend this option due to the cost associated with payday loans).Using credit cards with introductory 0% APR offers.If you realize a tax refund loan isn’t right for you, there are other ways to access the money you need. What Are Some Tax Refund Loan Alternatives? ![]() Not passing the lender’s final evaluation.Having debt enforced by a state (child support obligations, past student loans, tax liens and any other payments owed to a federal or state agency).You may need to borrow money elsewhere if your tax return doesn’t meet the minimum amoun Can I Be Denied a Tax Refund Advance?ĭepending on your overall financial situation, there are several reasons you could be denied a tax refund advance loan. If you have a federal tax lien or owe child support, you may not qualify. If you decide to receive a check in the mail, your tax refund advance may take a few weeks to get to you. If you don’t have a bank account, some tax preparation companies will set one up for you. Sometimes, your money will be sent to you by prepaid debit card within 24 hours. However, it’s important to note that if you borrow more than your final tax return, you’ll have to repay the lender what you owe. You’ll qualify for a tax refund loan if you don’t owe any money and meet the minimum loan amount required by the tax preparation company. ![]() Before submitting your finalized return, you’re given the option to apply for a tax refund advance online. Some tax preparation services let you file your federal income tax return yourself. If you decide to use a tax preparation company that offers advance loans, you may have to go in person. After you file, you can apply for a tax refund loan. Once you receive all your W-2s, 1099s or any other tax return documentation, you need to file your federal income tax return. You can apply for a tax refund advance in January, and most tax preparation services keep their application window open through February. Tax preparers offer advance loans ranging from $200 – $3,200 what your return will be. What Is a Tax Refund Loan?Ī tax refund loan is a short-term loan or advance on money you expect to receive after filing a federal tax return. Here’s what you need to know about tax refund loans to decide if one is right for you. Tax preparation companies charge for filing services to get your tax return money in advance. The application process is uncomplicated, but it’s not free. Tax refund loans typically require no credit check. You receive an interest-free advance, as a paper check or direct credit, to a card or bank account. Some tax preparation services offer tax refund loans or refund anticipation loans. If you know you’ll receive a reimbursement when filing your return, you may want to consider a tax refund loan. It’s hard to wait for your income tax refund check when you need your money sooner. ![]()
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