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Where to Get a Tax Refund Loan in 2023|Best Places

A tax refund advance loan is a way to access your refund early. Stay with me as I explain what that means.

In America, filing federal income taxes means getting a refund. So, if you file your federal income taxes this year, the next step is to wait for a refund from the IRS.

Those who pay tax often rely on this money to boost their retirement savings to invest it with their financial advisors.

In situations when you need the money before the IRS send your refund, you may want to consider a tax refund loan.

Companies like TurboTax, H&R Block, Jackson Hewitt, and many others offer 0% interest tax refund loans.

They function like other short-term loan companies, but the loan amount you get from them depends on your refund amount.

Let’s take a look at how you can qualify for a tax refund loan and where you can get a tax refund loan.

Before jumping to that, take a good look at the table of content to see what you need to know about tax refund loan explained in details.

What Is a Tax Refund Loan?

A tax refund loan is also called a Tax Refund Advance Loan or a Tax Refund Anticipation Loan (RAL). It is a loan that a moneylender makes depending on the measure of their federal income tax refund.

In other words, tax refund advance loans you take out when you’re foreseeing a refund from the IRS. This refund ranges from $200 to $4,000.

Once you receive the refund, they will deduct the loan amount from your refund. Sometimes, you can get the cash stacked onto a prepaid card within 24 hours.

To qualify for a tax refund loan, you should have your taxes arranged by the organization offering the loan, and that may mean you’ll pay a tax preparation charge.

There’s a base sum your expected refund can be to qualify, which fluctuates by the organization, and you may get just a piece of your normal refund ahead of time.

People who read this article, end up reading: What Is A No Doc Loan? Everything You Need to Know. Check it Out!

How Does Tax Refund Loan Work?

At the point when you get a Tax Refund Loan, they loan you the measure of your tax refund. Tax refund loans commonly just last a couple of weeks–sufficiently long for the IRS to handle your tax refund.

The loan that you get from a bank will have the estimation of your foreseen refund minus any expenses or interest charges. You may get the loan on a prepaid card, on a check, or as an electronic deposit in your bank.

However, a few moneylenders just offer one of those techniques while others may offer different alternatives.

When the IRS processes your refund, it will go straight to the lender. Now, that your loan is reimbursed, the only thing to remember is that if your refund is smaller than your tax refund loan, you will even now have to take care of the loan in full.

At the point when the public authority sends the discount check, they store it in the bank that made the advance. In situations where the discount is more modest than you suspected, everything of the advance should even now be reimbursed.

They generally charge those that pay tax fees and interest to get a tax refund loan. Often interest and fees are taken out of the loan. The full amount of the tax refund loan should be reimbursed regardless of whether the discount is lower than the amount anticipated.

Pros and Cons of Tax Refund Loans

There are pros and cons to consider when applying for a tax refund loan. See if it might be a good option for you.

You can get your funds within days (i.e. faster funding) Your refund could be less than anticipated
It could end up costing you nothingYou have to hire the company offering you the loan to prepare your taxes
You could use your loan to pay off high-interest debt right awayThere could be extra hidden fees
A significant risk
Pros and Cons of Tax Refund Loans

How Can You Qualify for Tax Refund Loan?

Tax loans don’t normally have the same difficult credit score requirements as unsecured loans because they’re not as hazardous.

Since tax loans don’t have as much danger as unsecured loans, credit score prerequisites are generally not restrictive. Your qualification will generally rely upon the measure of cash that the government will refund you.

The loans likewise require identity confirmation, a survey of your status with the IRS, and different debts you owe.

Basically, the tax loan lenders are responsible to confirm your ID, weigh your tax history with the IRS, and consider how much debts you owe. You should remember that some loan lenders may review your credit history.

In a situation where you want to pre-qualify as an applicant, H&R Block says you may have to provide your social security number, contact data, and the refund amount that you got for the past tax year.

How Much Does a Tax Refund Loan Cost?

The most compelling reason to avoid tax refund loans is that they are costly. However, the cost can vary.

You will get to understand all the costs that are important for this type of loan.

Loan lenders ordinarily charge an application fee that can be as high as $100. In case they are assisting you with documenting your taxes, you will have to pay the cost of recording (presumably about $40).

There will be another fee that relies upon how you get your loan. For instance, getting your loan on a prepaid debit card could convey an expense of $30 while getting it on a check may have a $20 charge.

Moneylenders may likewise charge various other little fees. On top of the fees, you will have to pay interest for the loan. However, your interest rate will be in twofold digits and at times perhaps triple digits.

Remember that deadlines for tax refund loans are normally early. So kid support, back taxes, student loans, and other elements could reduce the amount of cash that you hope to get refunded from the IRS.

Where to Get a Tax Refund Loan in 2023|10 Places

Tax refund loans are majorly available through banks. However, some tax preparation companies with banks to offer tax refund loans.

#1. TurboTax

The Federal Century Bank funds the TurboTax refund loans and it ranges from $500 to $1000 or more.

This amount is based on your federal refund amount, personal info, tax info, and any third-party data we may consider. Refund Advance is available in amounts of $250, $500, $750, $1,000, $1,500, $2,000, $2,500, and $3,000.

The Turbo Visa Debit Card is one of the easiest ways to get your tax refund after filing with their online platform. It’s a refillable debit card that can be used everywhere or country they accept Visa in the US – including online, in stores, and by phones.

To get the debit card, you will need to apply for your own Turbo Visa debit Card and your Refund Advance almost at the same time. Once they approve your card and your refund Advance, you’ll receive an email within 1 hour, which will also explain how to set up your Turbo Visa Debit Card account.


The Refund Advance won’t affect your credit at all. Here are the requirements to qualify for Tax Refund Advance loan:

  • Federal refund of $500 or more
  • Up to 18 years or older
  • Cannot be a resident of North Carolina or Illinois
  • You will e-file your federal tax return with TurboTax

How to Apply:

If you’re expecting a federal refund while filing your taxes with TurboTax, they will grant you the opportunity to apply for Refund Advance at the time you choose your refund method.

Here are 3 easy steps to apply for your Tax Refund or Advance Loan:

  • Just before you file, choose Refund Advance for your refund option.
  • Then apply for Turbo Visa Debit Card. Once you get approval for your card and Refund Advance, you can start spending online in as little as 30 minutes. Most times, the physical cards arrive in 5-10 business days.
  • Once the IRS processes your return, they load the remainder of your refund onto Turbo Visa Debit Card (usually within 21 days).

Apply Here

#2. H&R Block

H&R Block typically offers Refund Advance. So, if you need refund immediately, you may want to consider filing with H&R Block.

H&R Block charges no interest on their refund loan. There are also no finance charges or fees. The only thing you need to do is to complete a loan application.

Note that the refund loan is an offer from MetaBank, N.A. Member FDIC.

In most cases, you will receive the funds for your loan on the same day that the bank approves your application. It will be sent to your H&R Block Emerald Prepaid Mastercard®.

The best part of this company is that you have an option for a Tax Refund transfer.

Ways to File Your Tax Refund Loan with H&R Block

Filing with H&R Block is quite easy. There are three major ways to file with this company:

#1. File Online: You can get guidance every step of the way if you file online. All you need to do is a file from your smartphone or computer.

Starting to file online is totally free, but there are additional state fee involved.

#2. File with a Tax Pro: H&R Block has a good number of experts to help you file your tax. Just gather our docs and et your tax pro do the rest. When you file with an H&R Block tax pro, you could get a Refund Advance loan of up to $3,500, with 0% interest.

#3. File with Tax Software: Store your taxes on your computer with H&R Block’s tax preparation software. Stay in control and always get your max refund. All for less than TurboTax.

Options for Receiving Your Tax Refund Loan

In H&R Block, there are three options for receiving your tax refund. They include:

#1. H&R Block Emerald Prepaid Mastercard: Have your tax refund or the proceeds of your Refund Transfer loaded directly into an Emerald Card® Account. Then use your Card everywhere that accepts Debit Mastercard®.

#2. Direct Deposit: You can choose a direct deposit to get your tax refund payment sent automatically into your checking or savings account.

#3. Check: Have the IRS mail your tax refund check to your home. Or if you purchase a Refund Transfer, you can choose a check for an additional fee.

The Refund Transfer allows you to pay nothing out of pocket the day you file for your tax preparation and related fees and other authorized amounts, which are deducted from your refund after all our services are complete.

Apply Here

#3. Jackson Hewitt

Do you need a loan against your tax refund this year? Jackson Hewitt offers money in minutes on a prepaid card with a no-fee refund advance tax loan, 0% interest tax refund loan between $500 and $4,000. This tax refund loan comes to you through Metabank.

The Jackson Hewitt offers three major Refund Advance Loan, including:

  • The Early Refund Advance will be available to returning clients starting December 14, 2023, and for new clients starting December 16, 2023, at select locations until January 17, 2023.
  • No Fee Refund Advance will be available as early as January 2, 2023, at select locations until February 21, 2023.
  • Go Big Refund Advance will be available as early as January 2, 2023, at select locations until January 31, 2023.

#1. Early Refund Advance Loan

The Early Refund Advance is a convenient way to access cash for the holiday season. This is a 0% APR loan from MetaBank®, N.A. that you can get with your latest pay stub and other proof of income for all sources of income. So, unlike other Refund Advances, it’s a way to access cash before your W-2 is available in January (or after).

Early Refund Advance loans range from $200 to $700. If you apply for an Early Refund Advance loan, you are also required to apply for No Fee Refund Advance loan and Go Big Refund Advance loan (if available).

With Early Refund Advance, qualifying clients could access $200, $300, or $700 of the No Fee or Go Big Refund Advance loan amounts.

#2. No Fee Refund Advance Loan

The No Fee Refund Advance is a no fee loan with 0% APR provided by MetaBank®, N.A. at participating Jackson Hewitt locations.

You could get anywhere from $500 to $4,000 after filing your taxes with Jackson Hewitt. If you have applied for and received an Early Refund Advance loan, the amount of your No Fee Refund Advance loan will be reduced by the Early Refund Advance loan amount amount ($200 – $700).

No Fee Refund Advance loan sizes could be $500, $750, $1,000, $1,250, $2,500 and $4,000 for qualifying clients.

#3. Go Big Fund Advance Loan

Another advance option offered by Jackson Hewitt is the Go Big Fund Advance. You can apply for a loan between $1,000 to $7,000, depending on the amount you expect to get back.
However, you can expect to pay interest rates of 35.9%* on your loan.

The Go Big refund advance has a fee of 2.5% of the loan amount. For example, with a loan of $1,500, the total amount due on your tax refunds is $1,537.50, including fees.

Depending on the length of the loan, the effective APR of the loan can vary. Based on a 30-day loan term, the 2.5% fee would translate into an APR of 30.42%.

Go Big Refund Advance loan sizes could be $1,000, $1,500, $2,000, $2,500, $4,000, $5,000, and $6,000 for qualifying clients. The maximum Go Big Refund Advance loan amount for new clients is $2,500.

Ways to File Your Tax Refund Loan with Jackson Hewitt

#1. File with a Tax Pro: Jackson Hewitt makes tax filing easy with one-on-one attention from skilled Tax Pros who get you every tax deduction you deserve. This is a guarantee you get from this company about your tax refund loan.

#2. File Taxes Online: You can choose to simplify your online tax filing with Jackson Hewitt. No matter what your tax situation is this year, this company will make it easy to feel confident filing your taxes personally. This means one low price for federal and state returns and a 100% Accuracy Guarantee.

If you ask me, that’s a good bet.

How to Get a Loan on your Tax Refund

#1. Book an Appointment with Jackson Hewitt: Start by finding your nearest Jackson Hewitt office or Walmart location and reserve your time slot.

#2. Apply: Inform your Tax Pro of your interest in applying for a Refund Advance tax refund loan. Then come in with your tax docs and allow them to prepare your taxes.

#3. Get the Refund Advance Tax Loan: Once you get approval, you could get your No Fee Refund Advance loan in minutes on a prepaid card.

Apply Here

#4. Liberty Tax

Liberty Tax is another company that offers easy advance loans in partnership with Republic Bank & Trust Company.

Your funds will generally be available within 24 hours after your tax return is accepted, but it may take longer if you decide to have your funds deposited directly into your bank account.

Ways to Make Your Tax Refund Loan with Liberty Tax Easier

Before filing, consider:

1. Please consider your return carefully: Errors can delay the progress of your return in tracking tax refunds. Be sure to review your information carefully before filing it to the IRS.

2. File Early: The sooner you file, the sooner you can check the status of your federal IRS tax return. Filing early also gives you more time to deal with problems if something goes wrong.

3. Electronic filing of your return: Instead of spending 6-8 weeks wondering “where is my IRS tax refund?” do yourself a favor and file electronically. Government returns filed online are generally processed in less than half the time as paper returns.

4. Opt for direct deposit: Avoid waiting for your check by depositing your IRS refund into your account. Once the WMR says “Refund Approved” your money is ready to spend.

5. Immediate tracking of your 2023 refund: Staying up-to-date when you return keeps you up to date every step of the way.

Options for Receiving Your Tax Refund Loan

You can choose from the following refund options:

#1. Check: Refund checks sent by tax authorities and that arrive approximately 6 weeks after the IRS or state has accepted your return. Tax preparation fees are paid in-store and payable at the end of the tax interview.

#2. Direct Deposit: Your refunds will be deposited directly by the tax authorities into your bank account or prepaid card, generally within 21 days after the IRS or state accepts your return. Tax preparation and filing fees are paid in-store and due at the end of the tax interview.

#3. Netspend® Liberty Tax® Prepaid Mastercard®: Your refund (s) will be loaded onto a Netspend® Liberty Tax® Mastercard® prepaid card generally within 21 days1 after your return is accepted. Additional charges may apply.

#4. Refund Transfer (RT): By choosing a refund transfer, you get the convenience of IRS direct deposit with no upfront fees. After the IRS or the state submits your refund, usually within 21 days, your charges can be deducted from the income of the refund.

The balance of your refund will be disbursed as a check printed at the tax office, deposited directly into your personal bank account, or loaded onto a prepaid Netspend® Liberty Tax® Mastercard®.

Additional charges may apply to certain disbursements. Check with your tax office for details.

Apply Here

Alternatives to a Tax Refund Loan

Tax refund loans are generally not worth the high cost. You could get a lower rate on a similar size advance somewhere else and afterward utilize your discount to take care of it.

So here are some alternatives that might be better for you:

#1. Find a Free Refund Advance

Tax filing services are one of the largest lenders for tax refund loans. These services are often referred to as refund advances and are primarily offered as a way to attract new customers. The result has been that some refund advance loans are very cheap or even free.

#2. Payday Alternative Loans:

Some credit associations offer their part’s payday elective advances in sums from $200 to $2,000, contingent upon the sort of advance. These advances have a greatest APR of 28%, with application expenses covered at $20.

#3. 0% APR Credit Cards:

Consumers with great or superb credit may fit the bill for a charge card that has a 0% limited time revenue period.

You pay no interest as long as the equilibrium is settled completely during the special time frame, which ordinarily keeps going 12 to a year and a half.

#4. Online Loans:

Some online moneylenders offer little close to home credits beginning at $1,000 and can support an advance the very day or the following day after endorsement.

Rates range from about 6% to 36%, and capabilities differ by the loan specialists. Customers with high financial assessments, pay, and small existing obligations will meet all requirements for the least rates.

Final Thought

A tax refund loan is a short-term loan that you can use to get the value of your federal tax refund a little earlier. However, tax refund loans are not the best option for most people because they are so expensive.

But if you really need financial help, consider getting a refund in advance. Tax filing services like H&R Block and TurboTax give you great benefits at little or no cost.


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