Tax Refund Resources for Consumers
Don't Borrow Your Own Money
Tax refund loans are short-term loans secured by a borrower's expected tax return. The typical interest rate on a tax refund loan can range from 50% to over 500% (depending how long it takes the IRS to process the tax forms).
While tax refund loans are advertised as a quicker way for taxpayers to receive their expected tax refund, in most cases these loans only speed up the process for a few days or less.
If you are considering a refund anticipation loan, please follow the links below to learn about their pitfalls and ways you can keep more of your hard-earned money next tax season.
