Tax Refund Advance: Best options, costs, and processing time?
Looking into getting a tax refund advance for the first time. Need to know which companies are legit, what fees to expect, and how quickly I can get the money. Anyone have experience with this? Really dont want to get scammed.
15 comments
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Zoe Alexopoulos
Tax preparer here - be careful with refund advances. Most places like H&R Block and TurboTax offer them but theres usually hidden fees. Its basically a loan with HIGH interest rates disguised as an advance. You might get money faster but youll end up paying way more than its worth.
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Andre Lefebvre
•damn fr? what kind of fees we talking about? 👀
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Zoe Alexopoulos
•Were talking like $50-100 just for the advance plus prep fees. Some places charge up to 36% APR if you read the fine print 😬
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Jamal Anderson
•learned this the hard way last year smh. ended up paying almost $200 extra just to get my money 2 weeks early
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Mei Wong
Hey, before you jump into a refund advance, you might want to check your transcript with taxr.ai first. It costs $4.99 but it'll tell you exactly when you'll get your refund and if there might be any delays. Could save you from taking an expensive advance you don't need. Check it out here: https://taxr.ai
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QuantumQuasar
•interesting... how accurate is it? does it actually predict the date right?
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Mei Wong
•Super accurate! It analyzes your transcript line by line and explains everything. Way better than trying to guess from WMR or the IRS2Go app
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QuantumQuasar
•Just tried it and OMG this is actually amazing! 🙌 Got more info in 5 mins than weeks of checking WMR. Worth every penny fr fr
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Liam McGuire
i used jackson hewitt last year. got my advance same day but the fees were crazy high ngl
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Amara Eze
Anyone try those cash advance apps like Dave or Earnin? Might be cheaper than tax prep places 🤔
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Giovanni Greco
•those are different, they dont do tax refund advances. just regular payday type loans
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Fatima Al-Farsi
Pro tip: if u can wait even a few weeks, file early and direct deposit. Its free and usually pretty fast. These advance places are straight up predatory lending with a fancy name 💅
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Andre Lefebvre
•how early can you file tho?
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Fatima Al-Farsi
•IRS usually starts accepting returns end of January. Set yourself a reminder!
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Dylan Wright
lmaooo these places are straight CLOWNS charging those fees... might as well get a credit card advance, probably cheaper 🤡
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