![]() ![]() The main requirement in all cases is that you must get your taxes done by the company offering the refund advance. ![]() TurboTax is offering advances of up to $1,000 per federal return, and TaxSlayer says it will offer the same. Jackson Hewitt will offer up to $7,000, and Liberty Tax offers as much as $6,250. H&R Block is offering advances of up to $3,000 per federal tax return. Tax refunds will go out as usual, the partial government shutdown notwithstanding, the IRS says.)įor instance, the amount of the advance you can get depends on which tax preparer you use and how big a refund you're expecting, among other factors. 28 can expect their full IRS refunds by mid-to-late February. (Early-bird taxpayers who don't take a refund advance and file electronically on Jan. Consumers can apply now, without waiting until Jan. Taxpayers who take a tax refund advance typically get a portion of their owed refund within 24 to 48 hours of applying for it, the companies say. To get an advance, you must provide enough information on last year's income to prepare your return. At Jackson Hewitt, you can even get a tax refund advance of up to $400 before your W-2 arrives as long as you can show a pay stub or another valid proof of income, a spokesperson says. You also can get bigger advances, up to $7,000, but you will pay a hefty interest of more than 35 percent for those larger loans. You can find tax refund advances of up to $3,500 that are free of fees and interest. TaxSlayer, another online DIY service, will be rolling out its version later this month, a spokesperson says. Just be aware of how they work to avoid unexpected costs.įour major tax-prep companies-storefront preparers H&R Block, Jackson-Hewitt and Liberty Tax plus the do-it-yourself service TurboTax-are offering tax refund advances, essentially loans based on your expected federal refund. If you expect money back from the IRS this tax season and you're looking for a fast way to get cash, a tax refund advance could work for you.
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