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Tax Refund 2023: How to Get an Advance This Year

Tax Refund
Computing a tax refund (Photo by Lucia Grzeskiewicz from Pixabay)

For many people, the best part of tax season is getting a tax refund from IRS. But did you know that you may get this money right away? 

You could be tempted to take out a loan to get your money a bit earlier if you see tax return advance loans promoting access to your refund today.

Tax refund advance loans explained

Nerd Wallet explained that short-term loans, known as tax return advance loans, are repaid with your impending IRS tax refund. Loan amounts can range from $250 to $4,000, typically made available from December through February. 

Once the tax refund has been delivered, the loan amount is subtracted. Some loans can be disbursed as a direct transfer to a bank account or as a prepaid card within 24 hours or a few days. 

How to get tax refund early

The general recommendation is to file as soon as possible, file online (perhaps using the IRS-backed IRS Free File or a for-profit service like TurboTax or H&R Block), and, while filing online, ask for your return to be paid to your bank or designated online account by direct deposit. It’s also crucial to file a tax return without errors. 

The IRS said that most taxpayers would receive their refunds within 21 days if they followed this approach, even during the pandemic-related delay.

If waiting up to 21 days is impossible this year or if you’re concerned about the IRS missing its deadline, then you should consider applying for one of these loans. All three are advertised as no-fee loans with 0% annual percentage rates that don’t harm your credit.

Jackson Hewitt

Jackson Hewitt offers no-fee, 0% APR refund-advance loans that are paid back with your federal refund, much like its top rivals. The loan amounts range is $500 to $3,500, and the deadline for loans is January 15. 

Customers who file their taxes via Jackson Hewitt are eligible for the loan, known as the No Fee Refund Advance. You must apply in person at a physical location. Some Walmart shops have Jackson Hewitt shops, by the way.

H&R Block

Loans from H&R Block have a 0% APR and no fees. From now through February 28, you may get one of its five Refund Advance loans in sums ranging from $250 to $3,500. Most loan funds are made accessible the same day you apply for them, according to H&R Block. But be aware that you may only access the money using an H&R Block Emerald Prepaid Mastercard. 

Customers of H&R Block who e-file through a participating H&R Block office are eligible for the H&R Block Refund Advance loan. The amount of your anticipated federal refund also plays a role in determining your eligibility.


Over 195 million tax returns and associated forms were electronically submitted in 2020; some people filed 14 million tax returns using a TurboTax version. 

With the help of TurboTax Refund Advance service, you may get up to $4,000 of your tax refund within 15 minutes of the IRS accepting your tax return. 

However, a free edition of TurboTax is a great choice for those who primarily rely on W-2s and bank deposits as their primary sources of income.

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