Tax Refund Cash Advance Emergency Loans 2022

Besides tax refund cash advance, getting a cash advance through CocoLoan is also a great choice. Fill out our online form and get up to $5,000 today!

Want to borrow more than $5,000? Click here!

What Is Fast Cash Advance Tax Refund?

Tax refund cash advances are short-term loans that you can take when you are anticipating a refund from the IRS. The official term for this loan is Refund Anticipation Loan (RAL). How much you can get from this type of loan is based on the amount you have in your federal income tax refund.

Several banks often partner with various tax-preparation services to offer these loans. Once the IRS issues your refund, it will be sent to your lender to repay your loan.

How Does Tax Refund Loan Work?

A cash advance tax refund loan is a secured loan that requires collateral for loan approval. In this case, the collateral is your anticipated tax refund.

The amount you can get will depend on your financial and credit condition, the lender, the tax preparer, etc. The lender may deposit the funds into your bank account. You may also receive it on a check or a prepaid debit card.

Once the IRS processes your refund, it will go to your bank account or the prepaid card. The loan amount, interest rate, and other fees will then be deducted from the account as loan repayment. However, if your tax refund is smaller than your loan, you should balance the amount in full.

Where Can I Get Tax Refund Cash Advance?

You can get tax refund cash advances from any of the following companies:

Jackson Hewitt

There are two tax refund cash advances from Jackson Hewitt. The first one is the “No Fee” tax refund loan that has an APR of 0%. Another one is the “Early” tax refund loan which has an APR of 35.9%. Both cash advances are issued by MetaBank. The features include:

  • Minimum federal tax refund amount: $500.
  • No Fee Refund Advance Loan amounts: $500, $750, $1,000, $1,500 or $3,500.
  • Early Refund Advance Loan amounts: $200, $500, or $1000.
  • Tax preparation fees: Start at $59 but often varies by refund complexity.
  • Time to funding: Funding on Serve® prepaid debit card can occur within minutes. However, direct deposits can table between 1 to 5 business days.
  • Requirements: Your taxes must be prepared at the Jackson Hewitt office. You must be at least 18 years old with proof of income. You must also have a good payment history with the IRS and other agencies.
  • Deadline: No Fee Refund Advance – January 2, 2022, to February 20, 2022. Early Refund Advance – December 13, 2021, to January 16, 2022.

Intuit TurboTax

First Century Bank funds the Intuit refund TurboTax advance loan. It is a fee-free, zero-interest refund anticipation loan product. Its features include the following:

  • Minimum federal tax refund amount: $500.
  • Loan amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500 or $4,000.
  • Tax preparation fees: Products often vary from no charge to $119.
  • Time to funding: One to two hours after the IRS accepts the return.
  • Requirements: Your federal taxes return must be filed with TurboTax. However, you must not live in Illinois, North Carolina, or Connecticut. You must also be 18 years old or older.
  • Deadline: February 15, 2022.

H&R Block

Clients also get the H&R Block tax refund advance loan through MetaBank. You can apply for this loan without affecting your credit score. You won’t also have to pay interest or lender fees. Its features are:

  • Minimum tax refund amount: $500.
  • Loan amounts: $250, $500, $750, $1,250 or $3,500.
  • Tax preparation fees: Start at $69 and vary depending on the type of tax return.
  • Time to funding: As fast as the same day.
  • Requirements: You must be 18 years old and above and have your tax return prepared at an H&R Block office.
  • Deadline: January 3, 2022, to February 28, 2022.

Pros and Cons of Tax Refund Cash Advance Emergency Loans?

There are different options available for tax refund cash advance emergency loans. However, getting a tax refund cash advance has its advantages and disadvantages to keep in mind. They include:


  • Quick Access to Funds. If you need fast cash, getting a refund anticipation loan will help you cover immediate expenses. Funding can be as fast as one business day in many cases.
  • Convenient lending. Since you’re basically borrowing your own money, there is no additional paperwork for qualification. Repayment of the loan is also automatic after the processing of your refund.


  • Fees may be attached. Even if the loan does not include interest, there may be administrative fees. While some tax preparers may offer free refund advance loans, others often have associated fees.
  • Early deadlines. Online tax preparers often attach early deadlines to their refund advances, not usually extending beyond February. Some borrowers may miss the opportunity to apply for this loan.
  • A potential risk. You may end up getting less money than you thought if the IRS holds some of your return, probably due to a tax lien or the tax preparer miscalculates. However, you will still have to repay the full loan amount.

What Should I Consider Before Taking Out a Tax Refund Loan?

The major concern with tax refund cash advances is the cost. Therefore, you have to understand every cost attached to the loan you want to take. For example, some companies may require you to pay interest, administrative, or penalty fees.

Furthermore, you must ensure you know the exact refund you will get from the IRS. You don’t want to borrow so much money and then receive a lower refund than anticipated. You can use free tax refund calculators online to estimate your refund.

The IRS may sometimes take longer to process the refund than they normally should. It could result from an error in your refund, or the IRS may have too many refunds to process. Therefore, you must ensure you set favorable terms with your lenders.

Alternatives to Tax Refund Loans

Sometimes, tax refund loans may not be the ideal choice, especially because of their uncertainties. There are other alternatives to try at lower rates, and you can pay them off with your refund. Let’s check them out.

Loan Apps

These apps offer low-fee cash advances on your paycheck. They provide between $50 to $500 based on your income and other requirements. Loan apps often charge subscription fees, or they may ask for optional tips to process your funds faster. Although they are great choices for quick funding, they are not long-term solutions.

Payday Alternative Loans

Credit unions often give federally regulated alternative loans to give you access to fast cash. These loans usually range between $200 to $2,000 with maximum APRs of 28%. This is a great option if you don’t need lots of money. However, they have shorter repayments than traditional personal loans.

Online Loans

Several online lenders offer loans from as low as $500 to as high as $35,000. Many of these lenders offer instant funding after loan approvals; their rates are between 6% and 36%. However, loan eligibility and repayment terms vary from lender to lender. Therefore, you need to know every detail of the lender before signing an agreement.

Get Quick Online Loans with CocoLoan

CocoLoan is an online broker that is committed to offering you a convenient way to get online loans. Once you decide to choose an online loan for your emergencies, complete the simple application on our platform through the following steps:

  • Begin Your Application. The first step to getting a quick online loan at CocoLoan is to fill out the online application form. Here, you will need to enter your financial and personal details.
  • Receive and Compare Offers. Our reliable lenders will receive your application and offer loans according to their terms. You can compare the offers from different lenders, considering the repayment terms and interest rates. This will help you choose the most favorable offer for you.
  • Sign the Agreement. After accepting the most favorable offer, the lender will require you to sign a loan agreement. At this stage, you may also need to provide some final documents required by the lender. You can do the signing and submission online through the lender’s secure portal.
  • Receive Your Money. Once you sign the loan agreement, your lender will deposit the money directly into your bank account within a stipulated time. Most lenders will fund your account as early as one business day.
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Apply for an Online Loan to Cover Your Needs before Getting a Tax Refund!

If you’re considering a tax refund loan alternative, then let CocoLoan help you reach reliable online lenders. Start your application today to get safe, instant online loans.

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