Upon completing your electronic tax filing with Rapid Tax you have the opportunity to receive a fast tax refund advance loan. This tax refund advance loan carries a 0% APR and with some fees. Applying for it will not affect your credit score. If your tax return is accepted promptly, you might access the funds on the same day. The loan amount is automatically deducted from your refund once it’s received.
When you find yourself eagerly awaiting your federal tax refund, a tax refund advance loan can be a lifesaver. Look no further than Rapid Tax for a complimentary fast tax refund advance, which is one of our comprehensive service offerings. By opting for a tax refund loan, you can swiftly access your funds and conveniently repay the loan once your refund is deposited.
When utilizing specific tax preparation services, individuals have the option to request an advance on their tax refund. While not all tax preparation companies offer advances for the full expected refund amount to account for potential discrepancies during IRS review, these advances provide the benefit of accessing funds sooner without significant costs. Let’s delve deeper into the mechanics behind tax refund advances.
Eligibility for Fast Tax Refund Advance Loan:
- I am 18 or older
- I expected the federal tax refund amount to be $500 or more
- I am not a resident of North Carolina, Connecticut, or Illinois
- I am e-filing my federal tax return with Rapid Tax
- I am not filing on behalf of a deceased taxpayer
- I am reporting income or incomes on a Form W-2, 1099-R, or Schedule C
What Is a Fast Tax Refund Advance Loan?
Receiving a fast tax refund advance loan means you can access part of your federal tax refund early by filing your taxes electronically through a tax preparation company that provides these advance loans. These loans often come without fees and have a 0% annual percentage rate (APR). You can often receive the funds on the very day the IRS accepts your electronically filed tax return.
At Rapid Tax, quick tax refund advances are offered to eligible clients. Your tax return and credit are evaluated by the financial institution, usually with a gentle credit check that has no impact on your credit score. While there is a chance of not qualifying for an advance, the approval rate remains high.
How Can I Get a Fast Tax Refund Loan?
Commence your tax filing process by reaching out to our Rapid Tax dedicated tax professional for fast refund advance loans. It’s advisable to evaluate multiple alternatives to ensure you select the tax refund loan that suits your requirements.
How Much Does a Fast Refund Advance Cost?
While this type of loans usually come without any interest or fees, it’s important to be aware of potential costs and restrictions that could be linked to your loan.
Service Fees from Tax Preparation
Considering tax preparation fees is essential when deciding how to file your taxes. Opting to engage a tax preparation service for a refund advance, rather than filing for free independently, adds an extra cost. It is common for companies to mandate the use of more advanced services in order to qualify for the loan, as opposed to utilizing free or budget-friendly online options.
Unpaid Loan or Debt Balances:
Outstanding debts. Should your refund fall short of covering your existing loan, you may be left with an unpaid balance that will require payment. This situation may arise if the IRS rejects a deduction, resulting in a reduced refund amount.
