Tax Refund Anticipation Loan

When you efile your return (depending on the date you efile and the date your return is accepted by the IRS), you can receive your income tax refund via direct bank deposit within just days or two to three weeks at no charge. However, if you require a faster return and qualify for a Refund Anticipation Loan (RAL), you can get your tax refund in only in 48 - 72 hours.

As a money saving tip efile.com recommends: Select the - IRS Refund Direct Bank deposit - instead of the - RAL tax loan option - it is almost as fast and no loan charges apply! A third-party bank service is offered through our partnership with Republic Bank & Trust Company. This tax loan can be deposited into your personal bank account in as little as 48 to 72 hours after your return was accepted by the IRS and approved by the bank.

Here are some details about tax loans:

• This service is available for your federal income tax refund only.
• To take advantage of this service, you must select during your tax return preparation on efile.com “Refund Anticipation Loan (RAL)” in answer to the question “If your return results in a refund, how do you want to receive your refund?” before you efile your return.

• The fee for your loan is determined by the refund amount. This fee will be deducted from your refund before it is deposited into your account. This tax loan fee is in addition to the online tax prep fee.
• If you use the tax loan service to get your IRS tax refund, there is no additional charge to pay your preparation fee from your IRS tax refund. The RAL - tax loan - is limited to $2,500.
• If your refund exceeds the limit, the portion over the limit will be deposited into your bank account within three weeks, with no extra fee. The tax loan must be repaid even if the IRS does not issue a full refund. You must have a mailing address other than a post office box for the tax loan service.
• You must have a mailing address other than a post office box for the tax loan service.
• If for any reason you do not qualify for the tax loan service, your refund will be automatically deposited into your bank account within three weeks; the $19.95 bank refund account fee will apply.
• Because these loans are short-term loans, interest rates may be higher than some other forms of credit.

• If the loan is approved but not paid back after two IRS payment cycles, you will be assessed a 1.5% late fee on the outstanding balance every month until the balance is paid. If the loan is not approved, you pay a fee of $19.95 once you receive your refund from the IRS.

As a money saving tip efile.com recommends: Select the - IRS Refund Direct Bank deposit option - instead of the - RAL tax loan option - it is almost as fast and no loan charges apply! We do provide the RAL option only if you need your money within 48–72 hours of efiling your return and IRS acceptance and bank approval.

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