Important information before you select this option:
Upon your tax return acceptance and approval by the bank it might take up to 48 - 72 hours to get your refund and
you must have a bank account!
This service is available for your federal income tax refund only.
You must select
Refund Anticipation Loan (RAL) in answer to
the question "If your return results in a refund, how do you want to receive your refund?"
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.
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 and consumers may wish to consider using other forms of credit.
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!
Loan Amount - Finance Charge
$ 500 or less $ 34
$ 501 - $1000 $ 44
$ 1001 - $2000 $ 80
$ 2001 - $2500 $ 110
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 only $19.95 once you receive your refund from the IRS through direct deposit.
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