#Turbotax loan advance software

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. But Susan Ingles who does consumer law with South Carolina Legal Services warns, beware of. 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. And when you get your refund the advance amount is deducted to pay off your loan.

#Turbotax loan advance how to

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. Minimum Tax Refund: 500, but loan amounts are based on the expected refund amount and other details, such as personal and tax information. 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. Intuit’s pre-loan payment is funded by TurboTax by First Century Bank. 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.

You must report income on a Form W-2, 1099-R, Sched C, or Sched CEZ.

You aren’t filing on behalf of a deceased taxpayer.

Your address must be located in one of the eligible states and can’t be a PO box or prison address

Your physical address is listed on your tax return.

You’re e-filing your federal tax return with TurboTax.

You’re not a resident of North Carolina, Connecticut, or Illinois.

Here are some of the eligibility requirements to qualify for a Refund Advance loan: Intuits Credit Karma announced that it will partner with Intuits TurboTax to give customers a more refund-focused experience this coming tax season. But all I got to do was frickin look at it in a stupid worthless checking account that I didn't want or need.You cannot apply. You can't link a bank account unless it's verified by plaid and heres the fun part credit karma spend is not on the plaid list so I literally had to open a bank account with wells Fargo so I had a plaid verified account just to initiate a transfer that is going to take3-5 business days I will literally pretty much have my tax return back before I get my card. Well the dang virtual card would fraud lock if you even thought about making a purchase I was able to pay my cell phone bill successfully with it before it disappeared out of the app along with the option to set a new one up I have spent HOURS on the phone with customer service don't worry tho they weren't figuring anything out for me and still aren't I spend about 40 minutes waiting to talk to someone I can't understand for them to tell me they can't help me only their email customer service people can and that they have expedited my case to prority and they will be contacting me later today well they have said that every day for the last 4 days and my virtual card is still gone and they have not sent me not even one single email regarding my case and since I don't have my physical card all I can do is stare at my $1,073 balance that I cannot access. I was approved and my tax return was accepted after waiting 16 hours I finally received the advance on their little virtual card.