7/6/2023 0 Comments Turbotax refund advance![]() ![]() The loans are backed by your expected refund, and are usually repaid by (that is, deducted from) your eventual IRS refund. ![]() The tax-refund advance is a short-term loan that gets you what's owed to you (or, at least some of the amount), sometimes as soon as the day you file. If you e-filed your tax return using TurboTax, you can check your e-file status online, to ensure it was accepted by the IRS. When you e-file your tax return to the IRS, it needs approximately three days to update your information on the website. You'll receive a physical card in the mail in 7-14 days. Wait at least three days after e-filing your tax return before checking a refund status. If you choose to pay your tax preparation fee with TurboTax using your federal tax refund or if you choose to take the Refund Advance loan, you will not be eligible to receive your refund up to 5 days early. You'll receive an email when your Refund Advance funds are available to spend. Filing an error-free return is important, too.įollow this formula, and the IRS says, even in this age of the pandemic-related backlog, most taxpayers will receive their refunds within 21 days.īut what if you want your refund sooner than soon? What if you need it now? You'll get your Refund Advance funds typically within 15 minutes of the IRS accepting your e-filed tax return (estimated late January). If you want to get your federal tax refund as soon as possible, then the basic advice is this: File as soon as possible file online, perhaps via the IRS-backed IRS Free File or a commercial service like TurboTax or H&R Block and, when filing online, request your refund be sent to your bank or designated online account via direct deposit. Commercial loan options exist for those who want their money ASAP. Taxpayers filing online and with direct deposit should generally expect to see their refunds in 21 days or less. ![]() In 2022, tax day for most Americans is April 18. Promotions are subject to availability and retailer terms. We may receive commissions from some links to products on this page. CBS Essentials is created independently of the CBS News editorial staff. ![]()
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