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.
Interest paid on the loan is not tax deductible. Generally speaking, borrowing from your retirement plan is one of the worst options available. If you are pursuing an alternative loan because of bad credit, you should consider applying for a PLUS loan anyway.dvertisement There are several tradeoffs among these options. Interest Tax Deduction. Home equity loans and lines of credit are tax deductible, if the taxpayer itemizes deductions on Schedule A of the 1040.