Turbo Tax Refund Advance

[Bankroof264]

My return is complete how soon can I get an advance and how much

[Critter-3]

You can't apply for it. You can only get it if it's offered to you when you file your tax return. See the FAQ at the link below for details. Note that the FAQ says the following.

"The Refund Advance offer is not available to all customers at this time. Unfortunately, there is no way to self-select into the offer."

About Refund Advance

[Mattchooch83]

Is refund enough for a advance

[xmasbaby0]

The refund advance loan program ended on Feb. 15.

[sherryclark1978]

i hsve not got my 600 check can yall help me with that intill i get it and yall just take my check when i get it

[xmasbaby0]

@sherryclark1978 TurboTax is not offering any sort of refund loans at this time.   The refund loans ended several months ago.  Sorry.

[sherryclark1978]

i have not got my check yet why not im afraied that someone got it

[xmasbaby0]

@sherryclark1978

TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.   Many refunds are taking longer during the pandemic.  The IRS is backlogged —-they are still trying to process millions of 2019 returns; they received millions of e-filed on the day they opened for 2020 returns, and now they are burdened with sending out another round of stimulus checks.   

Some delays are resulting from incorrect amounts that folks entered for stimulus checks they received.   Many people have been confused by the recovery rebate credit and completed it incorrectly.  The IRS may delay your refund while they cross-check to see what you received.  Some refunds are delayed because of the tax law changes that went into effect recently.   If your return has unemployment or the premium tax credit on it, that may be delaying it.

First, check your e-file status to see if your return was accepted: 

https://turbotax.intuit.com/tax-tools/efile-status-lookup/

Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.

You need your filing status, your Social Security number and the exact amount  (line 34of your 2020 Form 1040) of your federal refund to track your Federal refund:   

https://www.irs.gov/refunds

To track your state refund:    

https://ttlc.intuit.com/questions/1899433-how-do-i-track-my-state-refund

https://ttlc.intuit.com/questions/1901548-why-do-some-refunds-take-longer-than-others

If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing.

https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

https://ttlc.intuit.com/questions/2840013-does-accepted-mean-my-refund-is-approved

https://ttlc.intuit.com/questions/2724106-my-return-is-accepted-but-still-not-approved-is-there-a-pr...

From this IRS website - https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue

As of May 15, 2021, we had 300,000 individual tax returns received prior to 2021 in the processing pipeline. Including current year returns, as of May 15, 2021, we had 16.4 million unprocessed individual returns in the pipeline. Unprocessed returns include those requiring correction to the Recovery Rebate Credit amount or validation of 2019 income used to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). This work does not require us to correspond with taxpayers but does require special handling by an IRS employee so, in these instances, it is taking the IRS more than 21 days to issue any related refund. If, as a result, a correction is made to any RRC, EITC or ACTC claimed on the return, the IRS will send taxpayers an explanation. Taxpayers are encouraged to continue to check Where’s My Refund? for their personalized refund status and can review Tax Season Refund Frequently Asked Questions

[DDELDRIDGE1]

My federal and state was accepted

[Critter-3]

@DDELDRIDGE1 

You made a statement on an old thread ... do you have a Question ? 

[xmasbaby0]

@DDELDRIDGE1 You are posting to a very OLD thread that started out with a question about the refund advance.   There will not be any 2021 refund advance loans offered until sometime in late January/early to mid-February, if that is why you posted to this thread.   The advance has to be offered to you----you cannot apply.   And it is only for 2021 returns for users who use online software.

If you are trying to ask about something else then please post a complete question.

[amy1527]

my taxes got accepted yesterday night and i never received the cash advance refund 

[MichelleLO]

For questions regarding your Refund Advance status, you will need to reach out to Credit Karma. You can contact them by clicking here. 

Although TurboTax and Credit Karma are both a part of Intuit, they are separate products. Please see  Is Credit Karma a part of TurboTax? for more information.

@amy1527

[Critter-3]

just because you are pre approved in the TT program doesn't mean the bank will actually approve the advance ... if you are not approved they will mail you a letter ... see the details in the contract you signed:

Not all consumers will qualify for a loan or for the maximum loan amount. If approved, your loan will be for one of ten amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, or $4,000. Your loan amount will be based on a portion of your anticipated federal refund to a maximum of 50% of that refund amount (minus any stimulus payment credit, also known as Recovery Rebate Credit). 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.

If approved, your Refund Advance will be deposited into your Credit Karma Money TM Spend (checking) account, typically within 1 hour after the IRS acceptance of your e-filed federal return. You may access your funds online through a virtual card and your physical Credit Karma Visa Debit Card* should arrive in 7 - 14  days. *Card issued by MVB Bank, Inc., Member FDIC pursuant to a license from Visa U.S.A. Inc.; Visa terms and conditions apply. Third party fees may apply.

https://ttlc.intuit.com/community/refunds/help/important-offer-details-and-disclosures-about-refund-...

This is the loan agreement everyone signed for the advanced refund

FCB REFUND ADVANCE LOAN AGREEMENT

1. A. Status of Application; Approval and Funding of Loan. The amount of the Loan for which you qualify will depend, in part, on the amount of your estimated income tax refund. We have not yet committed to make any Loan. We will only be committed to make a Loan if and when we disburse Loan proceeds to you in the manner set forth below. Based on your representations made during the application process and in this Agreement, we agree as follows. If your request for a Loan is approved and all conditions to funding are met, we will advise you of the final approved amount of your Refund Advance Loan. You acknowledge that receiving this Refund Advance Loan has no impact or effect upon the timing of receiving your tax refund. If your federal income tax refund (“Tax Refund”) is paid by the IRS before the Loan is funded, your Loan will not be approved and the Loan will not be funded.

[Jonathanperron707]

My federal and state refu do have been accepted already but I need a advance