Tax Return Loans Explained

Most of us have used some kind of loan – a personal loan, student loan, or a car loan – and they’re a pretty simple concept.

The bank or lender gives you money, and you pay it back with interest, usually over time. We know how our income tax refund works too – so how do these two work together?

Instead of having to wait until you file your tax return and a few weeks later the government sends us our refund in the amount of the taxes that were withheld from our checks that exceeded what we actually owed.

A tax return loan is when a lender advances you the funds you expect to receive in your tax refund – even before you’ve filed your return. Depending on when you apply you might repay the loan with your actual refund because it’s been received by the time the loan comes due.

Otherwise you would repay it as you would any other loan – which means when your refund does come in it’s all yours!

How Are the Advances from Tax Preparers Different from Tax Return Loans?

When you visit one of the large chain tax preparation firms, one of the products they offer is an advance loan on the refund. There are a number of differences between those loans and those from TaxLoansNow.com.

Those from a preparer require that you have your taxes filed by the company in order to receive the loan.

They can only be applied for in person, during limited hours, in the amount of the refund you are verified to be receiving. The amount received will be reduced by the tax preparation fee and the loan interest and any other fees, so it will be notably less than the refund.

Finally, the refund sent by the government needs to be signed over to the preparation company to serve as loan repayment. In contrast, tax return loans from eTaxLoans.com are not limited to a particular place or time of day because the whole process is conducted online.

The full amount of your loan will be delivered to you, with no fees or interest withheld in advance – and your refund will as well.

You’ll repay the loan from your next paycheck or two, or from the refund depending on when it arrives, but at no time will you be required to sign it over to anyone.

Getting Approved for Tax Return Loans Is Quick and Easy!

The simple online form takes just a few minutes, and you can complete it totally at your convenience – since there are lenders available twenty-four hours a day, there are no scheduling limits.

Approval takes less than two minutes, and the lender will provide all the terms and an agreement form to sign, all without ever leaving your computer.

You’ll review the terms, and if the offer is agreeable to you, sign the form with the electronic signature provided.

The lender can then move forward to deposit the funds into your bank account, where they’ll be available to you as soon as they complete your financial institution’s clearing process. What could be faster or simpler than a tax return loan?

3 Reasons Tax Return Loans are a Bargain for Borrowers

1. You get to spend it twice. When you take out a loan against your upcoming income tax refund, you’re essentially borrowing from yourself.

Granted, the interest goes to someone else, but after all is said and done you’re going to start with a specified amount of funding, repay that plus a bit more to the lender, then in a few weeks or months your get the money back yet again!

And that time there’s no need to pay it back, because the government is paying you back for money you accidentally loaned them last year.

2. Unbelievable convenience. Imagine a loan you can apply for, be approved, sign the acceptance papers, and spend – all without ever leaving your house!

There is no more convenient type of loan than the online payday loan, and the tax return loan is no exception.

The entire process has been digitized and made available online, right down to the electronic signature you can use on the loan agreement to indicate acceptance of the terms.

With a few clicks, the lender then deposits the funds directly to your bank account, and it’s available by the next business day – when you can use your debit card or computer to pay bills, order groceries, or whatever you needed the funds for.

Of course, you can leave the house if you’d like to!

3. Good credit, bad credit, doesn’t matter! Unlike traditional loans that use a credit check as the first and sometimes only criteria for approval, tax return loans actually consider your ability to repay the loan.

Qualification is based on your current income and circumstances, not a number based on a computer algorithm that considers seven to ten years of credit, debt, others who reported your financial activities to them, and your payment history as it relates to all of those.

The lenders working with short term online loans determine their own proprietary criteria and choose not to use the standard credit score – so whether yours is good or bad, your chances of approval are exactly the same!

How Do Tax Return Loans Work, Exactly?

It’s super fast and easy – just follow the link to the application page. There are a few basic requirements everyone has to meet – be at least 18 years old and a citizen, have a steady monthly income of at least $1000, and a bank account that can receive electronic deposits and debits.

The application form takes only a few minutes to complete, and if you’re one of the growing number of Americans using your smartphone as your primary computing device, here’s some good news: the site and application are optimized for mobile, so you can read all the site information and complete the form just as easily as if you were on a full sized computer.

Once the form is submitted our lenders make fast work of your approval and get back to you with a specific proposal within two minutes.

The terms and conditions are made available to you right there in your browser, including the interest rate and amount that you’ll pay, and if it all looks good to you then acceptance is just a signature away! Why wait? Apply for your tax return loan today!