I do my taxes at H&R Block. How do I get one? What do I need to take with me? Will they do a credit check? Please explain the process of paying them back. Thanks!!
2007-08-24 01:24:55 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Can I get one now in August or do I have to wait till December?
2007-08-24 01:25:24 · update #1
There were only two banks that offered these "Holiday Loans" in conjunction with tax franchises such a H&R Block. Both have allowed their contract to expire for provideing either the Holiday or Prefile loans. It would appear that you will not be able to get any loans against your tax return until you have filed with W-2s, etc. That means mid to late January for most folks.
2007-08-24 05:14:27 · answer #1 · answered by ? 6 · 1⤊ 0⤋
You get a tax advance loan when H&R Block does your taxes. They lend you money based on your refund (which they know how much it will be since they have prepared the return). As far as paying them back, don't worry, they take it out of your refund. Here's a link to H&R Block for the tax advance loan. But in my opinion, if you don't need the money right away, just wait for the refund to come to you.
2007-08-24 01:55:22 · answer #2 · answered by Anonymous · 1⤊ 0⤋
You cant do it until AFTER they do your taxes for the previous tax year... so you wont be able to do it until February.
Basically, lets say you are due $2,000.00 back on your tax return. They will give you a $2,000.00 loan that you pay back once the IRS gives you your return.
The problem is the fees and interest are outrageous....
So, you lose money because you give the Government an interest-free loan.... then you screw yourself even more because you take out this loan with 18% interest and about $100.00 in other fees.
Go to your employer and change your witholding so you take home more money each and every paycheck.
2007-08-24 02:13:01 · answer #3 · answered by Mike 6 · 2⤊ 0⤋
You can't get one yet, and might or might not be able to get one at the end of the year depending on whether they still offer them.
You do realize that by having enough deducted to get a refund, you are lending the government your money for the year at no interest, then paying high fees and interest to H&R Block to borrow back your own money for a very short time?
2007-08-24 03:30:39 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
Did everyone at HR Block assist you realize you should do a cord pass with the Emerald Card? Did you verify into it previously attempting it? How is that this subject the duty of the tax education place? You subject concerns are with the banks receiving the money and the transmitter.
2016-11-13 07:48:28 · answer #5 · answered by tito 4 · 0⤊ 0⤋
The bank that issued the advance loans prior to getting your taxes done as discontinued them. This year, you will probably have to wait.
Just as well....they were generally bad deals anyway.
2007-08-24 01:57:49 · answer #6 · answered by Wayne Z 7 · 1⤊ 3⤋
I am advised to be extremely careful of these by my financial advisor but here you go ...
2007-08-24 01:34:10 · answer #7 · answered by Indiana Frenchman 7 · 1⤊ 0⤋