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Asked by: livingeditor
tro on Feb 11, 2012
only with a company that is offering it
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SmartA$$ on Feb 11, 2012
There are a few companies that still offer refund anticipation loans or cash advances based on your tax refund. There are HUGH finance charges and it is a loan so there is a credit check and you can be denied. It usually takes 24-48 hours for approval so same day is unlikely, next day is common.
I generally don’t recommend these loans unless you’re about to become homeless or the mafia is about to break your legs. The finance charges are huge just to get your own money a few weeks earlier. Generally a bad financial move unless you’re really desperate.
If you still want a loan, start calling tax prep offices. In my area (Washington State) H&R block is offering loans up to $ 1500 with VERY strict requirements. Liberty is more lenient with requirements and loans are up to $ 3000 max. You’ll need to call the offices in your area because the regulations vary by state so your area could be different.
Lri Enter on Feb 11, 2012
Not really, I think some tax services may still offer refund anticipation loans but the law is changing and there are differences among the prep services H&R still seems easiest to deal with. A Federal RAC offers you a way to receive money faster than a mailed federal refund check from the IRS when prepared and electronically filed. Receive the balance of your refund, minus fees, on a Prepaid MasterCard Direct Deposit or check in approximately 7 to 14 days from IRS acceptance of your efiled tax return. The key is what Tax form type your filing simple returns process faster and gets your money faster!
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