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