Rapid refund Loans


3 Smart Ways to Use Your Tax

Under RAL terms, when the IRS issues your refund, it's direct-deposited to the lender; and what you receive can be quite a bit less.

In 2009, some 7 million American taxpayers received RALs — and paid more than $650 million in interest and fees, reports the Arkansas Attorney General's Office, which, along with other state AGs and consumer-protection agencies, warns against taking out RALs.

"Refund anticipation loans are similar to payday loans — with high interest rates of 50 percent to a whopping 500 percent, " notes the Better Business Bureau. "You may get your refund faster, but you will not be getting as much money as if you wait for a government refund check."

Expect more problems if your actual refund is less than anticipated or if you fall into another RAL-associated trap, borrowing more than the expected amount of your refund, as some RAL lenders allow. In that case, the high interest rates will apply to the entire amount, not just the amount of the refund.

Consumer groups applauded last year when the IRS announced it would no longer tell refund lenders whether particular taxpayers had debts to the government. This service had acted as a sort of credit check for RAL lenders, helping them weed out taxpayers whose refunds might be intercepted to settle those debts. The RAL market is expected to shrink this year because of this move by the IRS.

A better and fee-free route: File your tax return to the IRS electronically with instructions for a direct deposit of your refund into your bank account. If the IRS has no questions about your return, your money can arrive in as little as 10 days, the agency says.

By comparison, a mailed refund after e-filing usually takes up to three weeks. A refund after filing a paper return takes even longer and will usually be issued within six weeks of the date the return is received.

Interesting facts

  • A refund anticipation loan (RAL) is a short-term consumer loan secured by a taxpayer’s expected tax refund, and designed to offer customers quicker access to funds than waiting for their tax refund. A somewhat similar process in Canada is termed tax rebate discounting.
    In the United States, taxpayers can apply for a refund anticipation loan...

Additional information


Taxes - Rapid Refund - Money Fast TAX SMART
Taxes - Rapid Refund - Money Fast TAX SMART
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rapid refund - rapid refund online - rapid refund anticipation
Tax Refund Anticipation Loans
Tax Refund Anticipation Loans
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Refund Anticipation Loans Rip-offs?
Refund Anticipation Loans Rip-offs?
Peppini.com - #17 Student Loan Took All My Tax Refund
Peppini.com - #17 Student Loan Took All My Tax Refund
Money Management : How to Set Up Rapid Refund
Money Management : How to Set Up Rapid Refund
Peppini #17 Student Loan Tax Refund Lien
Peppini #17 Student Loan Tax Refund Lien
Rapid Refunds Dayton,Ohio Instant Tax Refunds by UAI
Rapid Refunds Dayton,Ohio Instant Tax Refunds by UAI
GET LOAN ON TAX REFUND AT COREY TAX 305-823-9228
GET LOAN ON TAX REFUND AT COREY TAX 305-823-9228

Popular Q&A

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My husband and I have been denied a rapid refund loan? | Yahoo Answers

The only thing I can think of is that something is different with your credit standing.... If there is something on your credit file that wasnt in the past years, that would stop acceptance.