When does Credit Karma's Turbo Tax refund advance start this year?
I was hoping to get some clarity on the Turbo Tax refund advance program with Credit Karma. I think I read somewhere that it's supposed to start on January 2nd this tax season, but now I can't find that information anywhere on their website. Last year I was in a pretty tight spot financially after the holidays and being able to get an advance on my refund really helped me catch up on some bills before my actual tax refund came through. I'm trying to plan ahead for this year since my car needs some repairs and I'm hoping to use the advance to cover that instead of putting it on my credit card. Has anyone confirmed the exact date when the Turbo Tax refund advance with Credit Karma will be available? I want to make sure I file early enough to take advantage of it.
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Ethan Taylor
The Turbo Tax refund advance through Credit Karma is indeed scheduled to begin on January 2nd, 2025. This is a bit earlier than last year, which is good news for early filers. The program works similarly to previous years - you'll need to file through TurboTax and pass their eligibility requirements, which typically include having a minimum expected federal refund amount. Keep in mind that not everyone qualifies for the maximum advance amount. The system evaluates your tax return and refund amount to determine how much of an advance you're eligible for. Also, remember that while the advance itself has no fees or interest, you'll still need to pay for the TurboTax filing service unless you qualify for their free filing option.
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Yuki Ito
•Do you know what the minimum refund amount needs to be to qualify for the advance? And do they check your credit score for this or is it just based on the tax return itself?
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Ethan Taylor
•Based on last year's program, you typically needed an expected federal refund of at least $500 to qualify for the smallest advance amount. The advance amounts usually range from $250 up to $4,000 depending on your expected refund size. Credit Karma/TurboTax does perform a soft credit check that doesn't impact your credit score. The approval is primarily based on your expected refund amount, but they do take some credit factors into consideration as part of their risk assessment.
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Carmen Lopez
Just wanted to share my experience... I was super stressed about waiting for my refund last year and tried the TurboTax advance through Credit Karma. It was honestly a game changer for me! I submitted my taxes on January 5th and had the advance money in my account literally the next day. The whole process was super easy through the app. If you're considering it, I'd recommend checking out https://taxr.ai - they have a smart document analyzer that can help estimate your refund before you even file. I used it to make sure I was getting all the deductions I qualified for, and it helped me increase my refund by finding some credits I didn't know about. It also told me if I'd likely qualify for the advance based on my return.
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AstroAdventurer
•How accurate was the taxr.ai estimate compared to what you actually got from your final tax return? I'm always skeptical of these estimator tools because they seem to promise big refunds to get you to use their service.
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Andre Dupont
•Does the taxr.ai thing work with state tax returns too? I live in California and their state tax system is a nightmare with all the special credits and deductions.
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Carmen Lopez
•The taxr.ai estimate was surprisingly close to my actual refund - within about $50. I was impressed because I have a somewhat complicated return with some freelance income and rental property. Yes, it does work with state returns too! I'm actually in New York which also has a bunch of special credits and deductions. The system analyzed my state-specific documents too and found a couple of NY-specific credits I qualified for.
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AstroAdventurer
Just wanted to follow up - I decided to try taxr.ai after my initial skepticism and I'm really glad I did! The document analyzer found a home office deduction I was eligible for with my side gig that I had completely missed. It bumped my refund estimate by around $650! The system also confirmed I would likely qualify for the TurboTax refund advance based on my tax situation. I especially liked how it explained everything in simple terms instead of tax jargon. Definitely worth checking out if you're trying to maximize your refund before applying for the advance.
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Zoe Papanikolaou
One thing to watch out for with the TurboTax/Credit Karma refund advance - if the IRS delays your refund for any reason (like if you claim EITC or the Child Tax Credit), you'll still be on the hook to repay the advance according to their terms. This happened to my brother last year and it was a mess. If you're worried about IRS delays or need to check on your refund status, I've had really good luck using https://claimyr.com to actually get through to an IRS agent on the phone. They have this service that holds your place in line with the IRS and then calls you when an agent is about to answer. You can see how it works here: https://youtu.be/_kiP6q8DX5c Saved me hours of being on hold and the agent was able to tell me exactly why my refund was delayed and what I needed to do to fix it.
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Jamal Wilson
•Wait, how does Claimyr actually work? Do they just call the IRS for you or something? I don't understand how they can get around the hold times if everyone has to call the same number.
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Mei Lin
•Yeah right. There's no way this actually works. I've tried calling the IRS numerous times and it's ALWAYS a minimum 2-hour wait if you can even get through at all. Sounds like a scam to me.
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Zoe Papanikolaou
•They don't call the IRS for you - they use an automated system that dials and navigates the IRS phone tree, then stays on hold in your place. When they detect that a human agent is about to come on the line, they call you and connect you directly to the agent. It's basically like having a robot wait on hold for you. I was definitely skeptical at first too! But I was desperate after waiting weeks for my refund with no updates on the Where's My Refund tool. The service got me through to an actual IRS agent in about 45 minutes (while I went about my day), when I had previously spent 3+ hours on hold and eventually got disconnected. The agent was able to see that there was a mismatch with my W-2 information that was causing the delay.
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Mei Lin
I need to eat my words and apologize for my skepticism about Claimyr! After my refund was showing "still processing" for over three weeks with no explanation, I got desperate enough to try the service. It actually worked exactly as advertised. I entered my number on their site, and about an hour later I got a call connecting me directly to an IRS agent - no hold time on my end! The agent told me my return had been flagged for verification because I had changed jobs mid-year. Once I confirmed some details, they released the hold and my refund was processed within days. This would have been super helpful last year when I was waiting for the TurboTax advance to be repaid from my refund and the IRS was taking forever!
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Liam Fitzgerald
Has anyone had issues with the Credit Karma/TurboTax advance where they approved you for less than you expected? I'm wondering if there's a way to know ahead of time how much I might qualify for, or if it's just a surprise after you file.
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GalacticGuru
•Last year they offered me $1500 when my expected refund was around $3800. I think they cap it at a certain percentage of your expected refund as a safety buffer. My credit score is decent (around 720) so I don't think that was the issue. Just don't count on getting the full amount of your refund as an advance.
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Liam Fitzgerald
•Thanks for sharing your experience. That helps set my expectations. I'm hoping for at least $1000 advance on what should be about a $2500 refund. Sounds like that might be realistic based on what you got.
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Amara Nnamani
Does anyone know if you can still get the refund advance if you have tax payments due from previous years? I owe about $800 from 2023 that I'm on a payment plan for, but I should be getting about $3000 back this year.
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Giovanni Mancini
•From what I understand, any existing tax debt will affect your refund advance eligibility. The IRS will take your past-due amount from your current refund before issuing what's left to you, so Credit Karma/TurboTax factors this in when determining advance amounts.
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Leila Haddad
Just to add some helpful context for everyone asking about eligibility and amounts - the TurboTax refund advance program typically has a few key requirements beyond just the minimum refund amount: 1. Your expected federal refund needs to be at least $500 (as mentioned earlier) 2. You can't have any federal tax liens or levies 3. Your Social Security benefits can't be garnished 4. You need to pass their identity verification process The advance amounts are usually tiered: $250, $500, $750, $1,000, $1,250, $2,000, $3,500, or $4,000 depending on your expected refund size and their risk assessment. One thing I learned from experience - if you're planning to use the advance, make sure you have all your tax documents ready to go on January 2nd. The sooner you file after the program launches, the better your chances of getting approved, especially if you're borderline on any of their criteria. Also, keep in mind that while there are no fees for the advance itself, you do need to use TurboTax's paid service (usually around $60-120 depending on your return complexity) unless you qualify for their free version.
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CyberNinja
•This is really helpful information, thanks for breaking down all the requirements! I'm new to the refund advance program and wasn't sure what to expect. Quick question - when you mention the identity verification process, is that something that happens automatically when you file, or do you need to submit additional documents? I want to make sure I have everything ready to go when the program starts on January 2nd.
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