James Callis, Miles Doleac, Christiane Seidel Runtime: 2 hours, 8 minutes Available to watch on supported devices.
When you take out a refund anticipation loan, you are borrowing money against your tax refund. If your tax refund is less than expected, you will still owe the entire amount of the loan.If your refund is delayed, you may have to pay additional costs.YOU CAN GET YOUR REFUND IN 8 TO 15 DAYS WITHOUT PAYING ANY EXTRA FEES AND TAKING OUT A LOAN.OTICE CONCERNING TAX REFUND ANTICIPATION LOANS. When you take out a refund anticipation loan, you are borrowing money against your tax refund. If your tax refund is less than expected, you will still owe the entire amount of the loan. If your refund is delayed, you may have to pay additional costs.
Taxation of policy loan. You can borrow against your life insurance policy, and the loan proceeds are generally not taxable to you (unless the policy is a modified endowment contract (MEC), see sidebar). A loan from a MEC is treated as a distribution from the MEC.A distribution from a MEC is subject to the income-out-first rule.ou can borrow against your life insurance policy, and the loan proceeds are generally not taxable to you (unless the policy is a modified endowment contract (MEC), see sidebar). A loan from a MEC is treated as a distribution from the MEC.