![]() This is absolutely ridiculous! It also appears that none of the employees responding to this post have any idea what is going on either. It has been 4 days since mine was accepted! Even if I went by the whole IRS not accepting returns until the 24th, it has still been over 24 hours since then so I should have had the deposit or at least received some type of notification by now. The fact that neither Credit Karma not TurboTax can tell me what is going on makes me think that this whole program is a joke! The website claims that 41% of people receive the advance within one hour and 99% within a day. ![]() But it won’t be available after early February and the maximum amount you can receive is 2,000. I called TurboTax and spoke with a very nice lady who tried her best to help but she said she had no way of seeing if I was approved for the advance, how much I was approved for, if it was sent, or anything related to it. With a TurboTax Refund Advance loan, you may be able to access your tax refund early without paying interest as long as you use the TurboTax software to e-file your federal tax return. I reached out to Credit Karma via email and was told that I had to talk to TurboTax. which has been confusing because I keep reading they won't start accepting them until the 24th which is obviously not the case. I also had my return ACCEPTED by the IRS prior to the 24th. If I remember correctly the only way to get the advance was to open the credit karma card so I'm not sure what the other person is talking about saying you won't get it if you choose credit karma. I did not have any issue when filing stating I needed to choose another option since I chose the credit karma card right away. The state tax due has to be paid directly to your state.I am also having a problem with receiving my advance. It is better to pay for the software upfront using a credit card than to face the extra $39.99 fee and the possibility of the fees coming out of your account at a very inconvenient time.Īnd.you can never pay state tax due from a federal refund, so do not expect that. This comes as an unpleasant shock to many people every year. There also aren’t any finance charges or fees. H&R Block charges no interest on the loan. So if you expect a refund of 600, you can apply for a 500 refund advance. Please make note that if your refund takes too long to arrive (IRS delays, etc.) then you will also be agreeing that the TurboTax fees can be extracted from your bank account even before your refund is issued by the IRS. It’s a short-term loan worth 250, 500, 750, 1,250 or 3,500 depending on your refund amount. You have to be able to go through the Review section and get to the FILE section to choose how to receive your refund, and to be able to select pay from your federal refund.ĭo you mean you want to pay your TurboTax fees from your federal refund? If your federal refund will be enough to pay the software fees AND the extra $39.99 refund processing fee to have a third party bank process your refund then when you go through the Review section and next when you are in the FILE section you will be able to make that choice. It has to be offered to you, and you have to agree to the terms-which have changed since last year-so read some information-and pay attention to the details in the fine print … Īre all of your forms ready? Have you gone through the Review section yet? Click Review- if your forms are not ready you cannot go to the FILE section. The IRS will not begin to accept e-files until January 24. The money for the loan is not given to you until the IRS ACCEPTS your e-file. The refund loan will not be available until later in January when you can e-file your 2021 return.
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