Turbo Tax Refund Advance

[Critter-3]

The IRS did start pulling "test" returns on 2/10 so if you asked for an advance then those may be released shortly  however the processing of the returns will not start until 2/12 or later.  

[dfg5133]

I just received an email from TurboTax that my federal return was accepted. Would you be able to add the source for the test pull information?

[Hungmeat]

I got my email confirmation today that my refund was accepted

[Shamieka26]

Mines was accepted yesterday as well. Questions i have is if you got your advance

[Tlundy82]

Mines was accepted Wenesday and advance deposited same day on TurboTax card.

[Critter-3]

@dfg5133 

I am a tax pro and I saw the pulls from my own client pool of returns and the subsequent acceptance notices.  All returns in the pool have since been accepted so the IRS is up an running successfully. 

[Shamieka26]

That is great but my question is why my advance info not been emailed 

[blesst809]

If the advance is only possible after the filed return is Accepted by the IRS, and if the IRS didn't do that until February 12th, and if the advance was only available until February 8th... how was any advance possible? It ended before returns were Accepted, but the return had to be Accepted to file for an advance. So confused. 

[Killac24954]

why i have not yet able to get a advance and my taxes was accepted 

[TerukoL]

TurboTax is offering the Refund Advance option to some people this tax season. The program will determine your eligibility and if you are eligible, it will give you an option for the loan when you are in the Filing section. If you did not see the option for the Refund Advance you were not eligible.

Please click About Refund Advance to learn more.

[BL5]

Yes

[Killac24954]

But it told me my taxes had to be accepted first in order for it to get  a refund advance because the option was there before

[Critter-3]

@Killac24954 

If you were offered the advance in the FILE tab before you filed  AND  you accepted the offer THEN  once the return is filed and accepted for processing the  bank decides if they will approve the advance and issue it.  The advance is  not guaranteed.  So look for the email from the processing bank for the final decision.

Offer details and disclosures for the Refund Advance program...AKA the fine print :

• 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 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, (6) your expected refund amount is less than $500, or (7) you are using any of our tax products where a professional is completing your taxes. 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.

[mraflores]

Irs has accepted my federal returns may I receive an advance on my tax refund 

[xmasbaby0]

The loan offer ended on 2-15.