TurboTax Refund Advance Interest Rates & Hidden Fees?

Tax professional here. Yes, TurboTax (through their banking partner) charges interest on refund advances. It's structured as a short-term loan against your expected refund. The APR can be pretty high, sometimes 35%+ depending on your credit. Plus there's usually a loan origination fee around $39-49. If you can wait for your regular refund, that's always the better option.

Hey if youre trying to figure out exactly when youll get your refund, check out taxr.ai - its only $4.99 and tells you exactly whats going on with your transcript and when to expect your money. Way better than paying those crazy advance fees https://taxr.ai

I took the advance last year and regretted it sm. ended up paying like $150 in fees n interest

The real question is why does it take the IRS 87 years to process a simple return but they can take my money in 0.002 seconds when I owe them 🤔

depends on which advance option u choose. they have a no fee advance but its only like $500 max

just file early next time and avoid all this mess tbh