Feb 19 2009
Tax Refund Anticipation Loan Info
A Tax Refund Anticipation Loan is a loan that is made available to qualified customers by a bank based upon several criteria, including the customer’s anticipated tax refund. You must e-file your tax return to apply for and receive the Refund Anticipation Loan. Tax payers often apply for a Tax Refund Anticipation Loan through a paid professional tax preparation service, where a fee typically charged for the preparation of the tax return. In the United States the Internal Revenue Service rules prohibit basing this fee on the amount of the expected refund. With e-filing and Internal Revenue Service partnerships that help consumers e-file for free, U.S. taxpayers can receive their tax refunds within three weeks and as quickly as ten to fourteen days if choose to receive their refund via direct-deposit.
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