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January 18, 2022
Question

Is anyone else not seeing the option to apply for refund advance

  • January 18, 2022
  • 1 reply
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Employee
January 18, 2022

You cannot apply.  It has to be offered to you.

 

 

 

Refund Advance eligibility

 

Here are some of the eligibility requirements to qualify for a Refund Advance loan:

  • You’re 18 or older
  • You’re not a resident of North Carolina, Connecticut, or Illinois
  • You’re e-filing your federal tax return with TurboTax
  • Your physical address is listed on your tax return. Your address must be located in one of the eligible states and can’t be a PO box or prison address
  • You’re not filing one of these tax forms: 1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862
  • You aren’t filing on behalf of a deceased taxpayer
  • You must report income on a Form W-2, 1099-R , Sched C, or Sched CEZ

 

 

 

 

The refund loan will not be available until later in January when you can e-file your 2021 return.   The money for the loan is not given to you until the IRS ACCEPTS your e-file.  The IRS will not begin to accept e-files until January 24.

 

You cannot apply for the refund loan.  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 …  https://turbotax.intuit.com/refund-advance/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
jamiew213Author
January 18, 2022

I qualify none of those that would prevent me from qualifying apply to me so why am I not seeing that option it says I can’t use my refund yet to pay for it is that why I don’t see it

Employee
January 18, 2022

Are 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.    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.

 

REFUND PROCESSING

Do 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.  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.  This comes as an unpleasant shock to many people every year.   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.

 

And....you can never pay state tax due from a federal refund, so do not expect that.   The state tax due has to be paid directly to your state.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**