How do I apply for tax refund advance loan

[DoninGA · Accepted solution]

TurboTax discontinued refund advances in February.

[alex1bluearmy]

Thank u boss 

[klepak]

HOW DO I APPLY FOR ADVANCED LOAN ON MY TAXES SINCE IRS IS SO SLOW?

[xmasbaby0]

@klepak

LOANS

TurboTax is offering refund advance loans to those who qualify.  If you qualify the loan is offered at the time that you file your tax return.

You do not get the money until the 2020 e-file has been ACCEPTED by the IRS.You also have to agree to receive your refund on the prepaid TurboTax Visa.

https://turbotax.intuit.com/refund-advance/

[tommyboycx3705]

How do I appy

[xmasbaby0]

@tommyboycx3705 Sorry--refund advance loans are not available now.   And when they do become available you cannot apply.   The loan has to be offered to you when you prepare an online 2021 return.   The online software will not be available until sometime in early December; the IRS will not begin to accept 2021 e-files until late January/early to mid-February.

https://turbotax.intuit.com/refund-advance

[Kastallworth44]

I applied for the advance but I haven’t heard anything back yet. It said 2 hrs later after sign up. What happened?

[xmasbaby0]

@Kastallworth44  You do not "get" the advance until your e-file has been accepted. by the IRS.   The IRS will not begin to accept/reject e-filed until January 24.  Watch your emails.

When you e-file your federal return you will receive two emails from TurboTax.  The first one will say that your return was submitted.  The second email will tell you if your federal return was accepted or rejected.  If you e-filed a state return, there will be a third email to tell you if the state accepted or rejected your state return.

[VolvoGirl]

See this FAQ,  https://ttlc.intuit.com/community/refunds/help/about-refund-advance/00/27333  

First paragraph says....."you’ll typically receive your Refund Advance within one hour of the IRS accepting your e-filed return."      The IRS won't start accepting returns until Monday Jan 24.

[redhotkeke]

Im at the page where it says transmit my returns now, but I haven't seen a place to apply for the refund advance loan. Did I do something wrong?

[xmasbaby0]

There is not a way to apply for the loan.   If it is not being offered to you then you must be ineligible for some reason.

REFUND ADVANCE LOANS

No-one in the user forum can see your information, so we cannot tell you why you did not qualify for the advance.   It might have something to do with the state you live in, or you might have some other disqualifying reason—-we cannot see nor can we exert any control over it.

×

Refund Advance eligibility

Here are some of the eligibility requirements to qualify for a Refund Advance loan:

• You’re 18 or older
• You’re not a resident of North Carolina, Connecticut, or Illinois
• You’re e-filing your federal tax return with TurboTax
• Your physical address is listed on your tax return. Your address must be located in one of the eligible states and can’t be a PO box or prison address
• You’re not filing one of these tax forms: 1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862
• You aren’t filing on behalf of a deceased taxpayer
• You must report income on a Form W-2, 1099-R , Sched C, or Sched CEZ

  The money for the loan is not given to you until the IRS ACCEPTS your e-file.  The IRS will not begin to accept e-files until January 24.

You cannot apply for the refund loan.  It has to be offered to you, and you have to agree to the terms—-which have changed since last year——so read some information——and pay attention to the details in the fine print …  https://turbotax.intuit.com/refund-advance/

[abirdie2b]

i was approved my taxes have already been accepted by the irs and i have signed and agreed to the credit karma terms and opened that account . Was expecting funds to hit right after that but still nothin

ng is ther something that i need to do to speed up the process are finalize the previous steps

[HeatherPLO]

Did you receive the email confirming your refund advance approval or otherwise? 

If not, please reach out to Credit Karma using the information here to get more information about your Refund Advance.  

[wshilling101]

Wow. That's fairly disappointing and disingenuous of Turbo Tax to discontinue a feature that is potentially so important to many in the midst of economic crises due to a pandemic.

To pull a tool that could mean the difference between paying rent or defaulting on a loan or losing an auto lease to repossession, et al. — but not officially announce that fact…. borders on false advertising, unethical and dishonest, if not fraudulent business practices, does it not?