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Tax Preparation Company. Loan Amount. Fees and Interest. Intuit TurboTax. Up to 50% of your anticipated refund. None. H&R Block – Emerald Advance: up to $1,300
Use of tax-time financial products, such as refund anticipation loans, in 2016. Refund anticipation loan (RAL) is a short-term consumer loan in the United States provided by a third party against an expected tax refund for the duration it takes the tax authority to pay the refund.
Another provider offered a refund anticipation loan from December 11, 2023, to January 14, 2024, with an almost 36% interest rate and a finance charge of 7.5%.
A refund anticipation loan is a loan against your estimated tax return. A tax preparer will calculate what the IRS owes you and loan you a portion of that amount right away.
The company services U.S. taxpayers and provides refund anticipation loans. It is a subsidiary of the Green Dot Corporation. Santa Barbara Tax Products Group is the second largest provider of tax refund-related products behind H&R Block Bank. [1]
Getting a tax refund advance or a refund anticipation loan through a tax preparation service might seem like a quick and easy way to get funds, but as experts warn, these types of loans come with ...