Question 1

What documents do I need to file my taxes?

Accepted Answer

You’ll need identification (like a government-issued ID), your Social Security number, W-2s or 1099s from employers, records of any deductions or credits (e.g., mortgage interest, charitable donations), and any other income-related forms.

Question 2

When will I receive my tax refund?

Accepted Answer

Refunds are typically issued within 21 days of e-filing your tax return. If you mailed your return, it may take longer. The exact timeline can also depend on whether the IRS flags your return for review.

Question 3

What is a refund advance, and how does it work?

Accepted Answer

A refund advance is a loan issued based on your expected tax refund. If you qualify, you can receive a portion of your refund upfront, typically within 24–48 hours after filing your return. The loan is repaid automatically when your tax refund is processed.

Question 4

Is there a fee or interest for a refund advance?

Accepted Answer

Many refund advances are offered with no fees or interest if approved through the tax preparer’s partner bank. However, you should always read the terms carefully to avoid hidden costs.

Question 5

Can I get a refund advance if I owe the IRS?

Accepted Answer

If you owe the IRS, the balance due will be deducted from your refund. This could make you ineligible for a refund advance since the advance is based on your net refund amount.

Question 6

What happens if I owe money to another agency, like student loans or child support?

Accepted Answer

The IRS can offset your refund to pay debts owed to other government agencies. This may reduce or eliminate your refund, which would also impact your eligibility for a refund advance.

Question 7

If I owe the IRS, can I set up a payment plan?

Accepted Answer

Yes, the IRS offers installment agreements to help taxpayers pay off their debts over time. You can apply online or work with your tax preparer to set up a plan.

Question 8

Can I still get my refund advance if part of my refund is offset?

Accepted Answer

It depends. If there’s enough refund remaining after the offset to qualify for an advance, you may still be eligible. Your tax preparer or the lender will review your situation to determine eligibility.

Question 9

How do I check if my refund will be offset?

Accepted Answer

You can call the Treasury Offset Program (TOP) at 1-800-304-3107 to see if your refund will be reduced due to debts owed to government agencies.

Question 10

Can I avoid offsets or reduce what I owe?

Accepted Answer

If you owe the IRS, you can explore options like an Offer in Compromise, which lets you settle your tax debt for less than the full amount. For other agency debts, contact them directly to negotiate payment arrangements.

Question 11

Does applying for a refund advance affect my credit score?

Accepted Answer

Most refund advances are issued without a credit check, so applying typically won’t affect your credit score.

Question 12

What if my refund is delayed? Will it affect my refund advance?

Accepted Answer

No, the advance is based on your expected refund amount, so a delay in your refund processing won’t impact the loan itself. However, it could delay when the lender is reimbursed by the IRS.

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