Tax season can be both exciting and stressful for many taxpayers, but one thing everyone looks forward to is the possibility of receiving that coveted tax refund. Last year, close to 64% of taxpayers got a refund, with an average federal tax refund of over $3,000. For some, this lump sum of money is the largest they receive all year and with the holiday season around the corner, it could be the perfect way to recover from extra spending.
Bidding farewell to the agony of waiting for a tax refund, TurboTax has introduced the Refund Advance program to provide relief. With Refund Advance, you have the chance to receive $250 – $4,000 instantly right after the IRS accepts your tax return. In fact, a whopping 70% of TurboTax customers get their funds within 60 seconds of IRS e-file acceptance.
Here’s how it works:
- Taxes must be filed with TurboTax Online while Refund Advance is available.
- If you have a federal refund of at least $500 and meet other eligibility requirements, you may qualify for Refund Advance.
- This year, get up to $4,000 with no loan fees and a 0% APR.
- Your Refund Advance is instantly deposited into a Credit Karma Money™ checking account, provided by our partner, Credit Karma.
When thinking about how TurboTax manages to offer this service without fees, it’s clear that this is just another exclusive benefit for TurboTax customers. Partnering with Credit Karma ensures seamless and quick delivery of your Refund Advance to your free-to-open Credit Karma Money™ checking account.
For those interested in applying for the TurboTax Refund Advance, the steps are simple:
- Choose Refund Advance as your refund option before finishing your filing.
- Open a checking account with Credit Karma Money within TurboTax.
- If approved, your Refund Advance gets deposited into your account instantly upon IRS acceptance.
- Secure a virtual Credit Karma Visa® debit card to access your funds immediately.
Once the IRS processes your return, any remaining refund, minus the Refund Advance loan amount and applicable TurboTax fees, will be loaded into your Credit Karma Money checking account within about 21 days.
Upon approval and deposit of your Refund Advance, start spending online with your virtual debit card wherever Visa® is accepted – making the entire Refund Advance process convenient and hassle-free.
As you eagerly anticipate your tax refund this season, sit back, relax, and take comfort in knowing that your Refund Advance is just a few clicks away with TurboTax.
