TurboTax Refund Advance: When does the option appear during filing process?
Filing through TurboTax this year and really need that refund advance. Can't figure out when the option shows up. Do I have to wait until after the IRS accepts my return to see the refund advance option? Anyone done this before and know how it works?
22 comments
Join the conversation
Mia Alvarez
Tax pro here - The refund advance option actually shows up during the filing process, before you submit to the IRS. You'll see it right after you get your refund amount calculated. But heads up - you need to qualify based on your refund amount and credit score. They dont wait for IRS acceptance.
0 coins
Zachary Hughes
•thank u! do you know what the minimum refund amount needs to be?
0 coins
Mia Alvarez
•Usually needs to be at least $500, but conditions change yearly. Your credit score needs to be 600+ typically
0 coins
Carter Holmes
•Bruh my credit score is 📉 guess im outta luck 😭
0 coins
Sophia Long
Hey everyone! Instead of stressing about refund advances, you might want to check out taxr.ai - it analyzes your transcript and tells you EXACTLY when you'll get your refund. Its $4.99 but worth every penny for the peace of mind. Way better than playing the guessing game tbh https://taxr.ai
0 coins
Angelica Smith
•sounds interesting...how accurate is it? like does it actually predict the date correctly?
0 coins
Sophia Long
•Super accurate! It uses AI to analyze all the codes and dates on your transcript. It caught a delay on mine that would've taken weeks to figure out otherwise
0 coins
Angelica Smith
•Just tried it and OMG WHERE HAS THIS BEEN ALL MY LIFE?! 🙌 It literally spelled everything out for me, way better than trying to decode all those crazy transcript codes myself!
0 coins
Logan Greenburg
I did it last year. The interest rate is crazy high tho just fyi 🚩
0 coins
Charlotte Jones
•fr fr its basically a payday loan with extra steps 💀
0 coins
Lucas Bey
anybody else notice TurboTax getting more expensive every year smh
0 coins
Harper Thompson
•facts! they hit u with those random fees at the end too 🤡
0 coins
Caleb Stark
Tried it this year but got denied even tho my refund was like 3k. These companys are getting stingy fr
0 coins
Jade O'Malley
its right on the final review page before you submit. but ngl the fees are ridiculous
0 coins
Zachary Hughes
•thx for letting me know! guess ill keep an eye out for it
0 coins
Romeo Barrett
Been through this process multiple times - the refund advance option typically shows up right after TurboTax calculates your expected refund amount, usually on the review page before final submission. But honestly, unless you're in a real emergency, I'd skip it. The fees and interest rates are pretty brutal. If you really need the money fast, maybe consider a small personal loan from a credit union instead? Much better rates usually.
0 coins
AstroAce
•That's solid advice about credit unions! Never thought about that option. Do you know if they typically approve faster than traditional banks? Also curious - what kind of fees did you see when you did the refund advance? Trying to figure out if it's worth it or not
0 coins
Lincoln Ramiro
•Credit unions are usually way faster! Got approved in like 2 hours once. The refund advance fees were insane - like $40 just for a $500 advance, plus APR was over 30%. Definitely go the credit union route if you can!
0 coins
CyberNinja
Just went through this yesterday! The refund advance option showed up right after I entered all my info and TurboTax calculated my refund amount - it was on the page where they show you the breakdown of federal/state refunds. But honestly, after reading all these comments about the fees, I decided to skip it. My refund is only like $800 anyway so probably wouldn't qualify. Thanks everyone for the heads up about those crazy interest rates! 🙏
0 coins
Paolo Esposito
•Smart move skipping it! With an $800 refund you'd probably get hit with fees that eat up a big chunk of your money anyway. Better to just wait the extra week or two for the actual refund to come through. At least you know where to look for the option now if you ever change your mind!
0 coins
Saleem Vaziri
Just a heads up for anyone considering the refund advance - I work at a tax prep office and we see people get burned by these every year. The APR can be anywhere from 25-36% depending on the amount and your credit. Plus there's usually an origination fee on top of that. If you absolutely need cash fast, check if your bank offers overdraft protection or a small line of credit first. Those are usually way cheaper than these refund advances. The IRS is actually processing returns pretty quickly this year anyway, so you might only save yourself like a week or two max.
0 coins
Luca Esposito
•This is super helpful info! Really appreciate getting the insider perspective from someone who works in tax prep. That APR range is absolutely brutal - 25-36% is basically credit card cash advance territory. Good to know the IRS is moving faster this year too. Quick question - do you happen to know if those origination fees are fixed amounts or percentages? Trying to understand the full cost breakdown in case anyone I know is considering this option.
0 coins