| Taxpayers who are looking forward to getting the | | | | two days, at least you will get your money intact. |
| most of their tax returns should consider filing their | | | | So, unless if you need the money for an absolute |
| tax returns electronically rather than taking out a tax | | | | emergency, why not wait ten days to get your |
| refund loan. | | | | money? |
| The e-filing service of the IRS is one bit of wonderful | | | | In 2008, around 90 million tax returns were filed, |
| news that has come out in recent times. Americans | | | | comprising almost 58 percent of all tax returns that |
| have, for so long, fallen prey to tax refund loans or | | | | were filed last year. Nearly 27 million people filed their |
| "instant refund loans," or "refund anticipation loans." | | | | returns right from their own home, which is an |
| Tax refund loans charge from between $29.95 to | | | | increase of 19 percent from 2007. |
| $89.95 plus electronic filing fees, which could cost up | | | | This surge in the number of e-filings can be attributed |
| to $40. You can receive the total amount of your | | | | to the number of tax software products available |
| refund (usually up to $5,000) within one day or two | | | | today. Several of these software do not charge fees |
| days. The loan is repaid when your tax refund is | | | | if you are electronically filing for the first time. The |
| received in the special bank account set-up by the | | | | IRS itself also offers free tax preparation with Free |
| IRS tax refund lender. | | | | File, which can be found on the website IRS.gov. If |
| On the other hand, when you choose to file | | | | you are comfortable filling out forms and do not help |
| electronically with the IRS and choose direct deposit | | | | doing so, you can file your returns now and pay |
| as a refund option, you can get your refund in as | | | | anything you owe later. |
| little as ten days. While ten days is still longer than | | | | |