My husband is in the military stationed in Iraq right now. He is coming home for R&R sometime in January. R&R lasts only 18 days and we don't have money saved up right now to do something special while he is here. His W-2 form is available online on January 22nd, but I was wondering if there was a way that H&R Block ( or another tax place) gave RALs with just the last paycheck stub of the year? That way we will have money to do something before he goes back to Iraq. Thanks in advance.
2007-12-20 13:48:32 · 7 answers · asked by candicekellie 2 in Business & Finance ➔ Taxes ➔ United States
H&R Block is offering a $500 loan only. No one else is doing the loans, in part because so many people failed to pay them back and partly because the IRS will be delaying processing this year.
Additional info--don't fall for any online loan scam where they promise you a loan if you will send them a fee for 10% of the amount they *say* they are going to give you. You will lose your money. This goes for emailing anyone with a free email address like yahoo.com.
2007-12-20 13:52:35 · answer #1 · answered by Anonymous · 1⤊ 2⤋
Sorry, but no.
Anticipation loans are not available until Jan. 11th @ H & R Block. If you do decide to use a RAL option at a later date, you'll be protected by the Military Lending Act that caps your interest rate at 36%.
The only loan H & R Block has at this time is the Emerald Advance. You can only get up to $500.
2007-12-21 02:56:43 · answer #2 · answered by Celeste 6 · 0⤊ 0⤋
RAL are almost impossible to get this 365 days because of the fact the IRS isn't reporting offset on refunds to the lending banks this 365 days. it quite is to lots of a possibility for banks to private loan the money this 365 days because of the fact if somebody owe decrease back taxes decrease back childsupport or student loans the refund could be taken to repay that debt and the financial enterprise who loaned the money does not get their money decrease back.
2016-11-04 04:34:53 · answer #3 · answered by ? 4 · 0⤊ 0⤋
The bank that funds the RALs (HSBC) requires there to be a W2. Period. No W2 = No RAL.
Also, congress passed a law last year the basically banned active duty military personnel and their spouses from receiving RALs.
2007-12-20 14:07:30 · answer #4 · answered by Wayne Z 7 · 2⤊ 1⤋
I don't know the answer to your question. Just wanted you to thank your husband for his service from a Y/A 'er. I am sorry that as a family you must sacrafice so much. Bless your entire family, wish I knew how to contact you, I would send what I can spare. May your husband be safe when he goes back.
2007-12-20 14:02:28 · answer #5 · answered by Anonymous · 0⤊ 1⤋
STOP! Don't even look for a refund anticipation loan. It is about the worst deal you can find and just made for suckers. Save a bunch of money by efiling and having direct deposit of your refund in about two weeks.
2007-12-20 14:05:38 · answer #6 · answered by Anonymous · 1⤊ 2⤋
Call H&R and see if they can do it that early and what you need.
You might need his LES....
2007-12-20 13:53:39 · answer #7 · answered by Taz 4 · 0⤊ 1⤋