Many people are looking for Christmas Holiday loans or tax refund cash advance emergency loans . That’s why several tax preparation companies are providing tax refund advance loans.
Tax filing companies like H&R Block and Jackson Hewitt understand that having some extra cash this time of year can really help, which is why they are offering brand-new Tax Refund Advance Loans for 2021, 2022.
How Does the H&R Block Refund Advance Work?
The H&R Block Emerald Advance for 2022 offers tax refund advance loans. You must have at least $1,000 in expected refunds to qualify. Loan amounts range from $500 to $3,000.
In most situations, you can expect your money to be available on your H&R Block Emerald Prepaid Mastercard on the same day. Then you have the option of transferring these funds without paying a fee.
The only requirement is that H&R Block must have prepared your taxes. The minimum tax preparation fee is $59, which applies mainly to simple tax returns.
How Does the Jackson Hewitt Refund Advance Loan Work?
The Jackson Hewitt Loan Advance for 2021, 2022 works with MetaBank to issue refund advances. So depending on your expected refund, you could take out a Holiday, Christmas, or emergency loan for as little as $200 or a loan that’s worth as much as $4,000.
It typically takes just a few hours to get your money if you’re loading it onto a prepaid debit card. However, take note that direct deposits could take up to five business days.
To be eligible, you must make sure that you have your taxes prepared at Jackson Hewitt, and you must have some form of income verification. The Jackson Hewitt Refund Advance Loan option starts on December 14th and ends on January 17th.
How Does a Tax Refund Loan Work?
Most tax refund loans are available within 24 hours. These secured loans are held against your tax refund. When the refund arrives, the lender will take the money lent to you out of that refund before the rest of the money is sent to you.
You’ll only be able to get one of these loans if you’ve submitted your taxes through a tax filing company like the ones listed above. Companies typically have requirements on how much money they’ll lend you. It’s usually based on the size of the refund.
Last tax season, more than 75% of filers got a tax refund, with the average federal tax refund being about $2,766. For many, their return ount of money they get all year, and with the holidays approaching, those monies may be an excellent method to pay off that extra spending.
How Can I Spend My Refund Advance?
If your refund advance is approved, you will receive an email with instructions on how you can start spending your money. If Visa or Mastercard is accepted as a payment method, you’ll be able to use your virtual card immediately. You will also receive a Visa or Mastercard Debit Card within 5-10 business days.
It is also possible to withdraw physical cash from more than 19,000 free ATMs throughout the country. With so many perks, a tax refund advance could be the best option for your refund in 2022.
How Do I Get a Tax Refund Advance?
If you are eligible, it’s easy to get a tax refund advance. Therefore, when you file your taxes, you should select the Refund Advance option as your refund option of choice.
Once approved, you will receive a virtual card to spend your money. You will also receive a Visa or Mastercard Debit Card within 5-10 business days.
After the IRS processes your return, any remaining dollar amount not issued through your Visa or Mastercard Debit Card will be sent to you within 21 days.
