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Level 2

Why is it taking so long to get my advance I hate I use turbo tax

 
12 Replies
Level 15

Why is it taking so long to get my advance I hate I use turbo tax

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/

The IRS will begin to accept/reject 2020 returns on February 12, 2021.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 15

Why is it taking so long to get my advance I hate I use turbo tax

If you were approved for a tax refund advance then you have to wait for the IRS to accept your 2020 federal tax return.

The IRS will not be accepting or rejecting any 2020 federal tax return until February 12, 2021

Level 15

Why is it taking so long to get my advance I hate I use turbo tax

Read the fine print at this link :  https://turbotax.intuit.com/refund-advance/

 

 

Offer details and disclosures for the Refund Advance program

  • If you’re receiving a federal refund, you could be eligible for a Refund Advance on a Turbo® Visa® Debit Card issued by Green Dot Bank, Member FDIC. If approved, you will receive a virtual card for online use, which will arrive within a day of the IRS accepting your e-filed federal return. Use your virtual card until you activate your physical Turbo® Visa® Debit Card, which will arrive in 5 to 10 business days of IRS acceptance and loan approval. Your virtual card expires in four years or upon activating your physical Turbo® Visa® Debit Card. 0% APR & $0 loan fees. This offer is available until February 8, 2021, or until available funds have been exhausted, whichever comes first. Availability subject to change without further notice.

  • Refund Advance is a loan based upon your anticipated refund (excluding any Recovery Rebate Credit) and is not the refund itself. To apply for the Refund Advance, you must file your taxes with TurboTax. Availability of the Refund Advance is subject to satisfaction of identity verification, certain security requirements, eligibility criteria, and underwriting standards. Refund Advance is provided by First Century Bank, N.A., Member FDIC, not affiliated with Intuit or Green Dot Bank, Member FDIC.

  • Separate fees apply if you choose to pay with your federal refund. Paying with your federal refund is not required for the Refund Advance loan.

  • Not all consumers will qualify for a loan or for the maximum loan amount. If approved, your loan will be for one of eight amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, or $3,000. Your loan amount will be based on a portion of your anticipated federal refund. You will not receive a final decision of whether you are approved for the loan until after you file your taxes. Loan repayment is deducted from your federal tax refund and reduces the subsequent refund amount paid directly to you.

  • Fees may apply for other products and services.

  • Your loan proceeds will be available on a Turbo® Visa® Debit Card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Turbo Visa Debit Card opening is subject to identity verification. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GoBank, Green Dot Bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. Green Dot is a registered trademark of Green Dot Corporation. You may access your loan proceeds by multiple methods without paying additional fees. Other fees apply to the card, which are viewable prior to applying. Please see Deposit Account Agreement for details.

  • You will not be eligible for the offer if: (1) your physical residence is located outside of the United States, a US territory, a PO box or a prison address, (2) your physical residence is in one of the following states: IL, or NC (3) you are less than 18 years old, (4) the tax return filed is on behalf of a deceased person, (5) you are filing certain IRS Forms, or (6) your expected refund amount (excluding any Recovery Rebate Credit) is less than $500. You must report income on a Form W-2, 1099-R , Sched C, or Sched CEZ. You also must be approved by Green Dot Bank, Member FDIC to receive a Turbo® Visa® Debit Card.

  • If you are approved for a loan, your tax refund after deducting the amount of your loan and minus any agreed-upon fees will be placed on a Turbo® Visa® Debit Card. If you apply for a loan and are not approved your tax refund will be placed on a Turbo® Visa® Debit Card minus any agreed-upon fees. Approved pending confirmation of loan tier amounts in contract and state licenses approved.

  • Refund Advance is a service offered by Intuit TT Offerings Inc. (NMLS # 1889291), a subsidiary of Intuit Inc.
 
* Important Offer Details and Disclosures
Level 2

Why is it taking so long to get my advance I hate I use turbo tax

Yes it said I was approved of 2000 dollars I haven’t received anything and that was Friday 

Level 15

Why is it taking so long to get my advance I hate I use turbo tax

Even though Turbo Tax approved it they don't send it to you until the IRS Accepts your tax return which won't be until the IRS starts taking returns on Feb 12.  Sorry you have to keep waiting.  

Level 2

Why is it taking so long to get my advance I hate I use turbo tax

Is there anyway I  can cancel my taxes through turbo tax because my sister was approved just like I was an she had money to spend and that was after I filed so how in the hell i cant

Level 15

Why is it taking so long to get my advance I hate I use turbo tax

If you already e-filed a tax return it cannot be cancelled.  Your return is sitting in pending and you have to wait.   If you attempt to e-file from somewhere else, the return will be rejected.  You cannot e-file twice.

 

 

MY RETURN IS IN PENDING—what does that mean?

 

Did you e-file?  Did you click that big orange button that said “Transmit my returns now?”  If so, your return is now in “pending” on a server.  Do not try to change anything while your return is in pending.

 

The IRS will not be accepting/rejecting 2020 returns until Friday, February 12, 2021.  You need to watch your emails for the acceptance/rejection notice that may take until the end of the month to arrive in your inbox.  And watch your spam folder too.

 

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.

 

A state return cannot be accepted until the federal return has been accepted.

 

 

 

https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refund...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 15

Why is it taking so long to get my advance I hate I use turbo tax

@khlia23 

 

If your sister was pulled and accepted in one of the test batches then she could have gotten the advance already.   Not all early filers will be pulled in a test batch so until your return is accepted for processing the advance will not be released ... read the fine print posted in the other answer in this thread.  

Level 2

Why is it taking so long to get my advance I hate I use turbo tax

That has nothing to do with a [removed] advance I’m highly upset because I was approved 

Level 2

Why is it taking so long to get my advance I hate I use turbo tax

I was APPROVED

Level 15

Why is it taking so long to get my advance I hate I use turbo tax


@khlia23 wrote:

I was APPROVED


If you were approved for a tax refund advance then you have to wait for the IRS to accept your 2020 federal tax return.

The IRS will not be accepting or rejecting any 2020 federal tax return until February 12, 2021

Level 2

Why is it taking so long to get my advance I hate I use turbo tax

I would like to apologize to everyone I’m so upset about the advance but it’s not y’all fault 

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