H&R Block Emerald Refund Advance Loan
Do you believe that you’ll receive a tax refund this year?
You might have heard that to stop tax fraud, refunds
are going to be held for longer. This applies especially to the Earned Income Tax Credit (EITC). The EITC is one of America’s most popular tax credits. This means you
could be waiting much longer to receive your tax refund.
What is a Refund Advance?
A refund advance is something several tax platforms
offer. You apply for a refund advance and the money is loaned to you.
Instead of paying it back, the money is taken from
your tax refund instead. Essentially, you’re just getting your refund earlier
than everyone else.
This year H&R Block is offering refund advances
from January 4th to February 28th, 2022. So, you don’t
have much time to apply.
How Much Can I Claim as Part of My
Refund Advance?
H&R Block operates a robust application procedure,
so you’re never going to be able to take out more than you expect to get back
as part of your refund.
These loans are not supposed to be large. You can
claim four different loan amounts, which are: $500, $750, $1250, and $3000.
Remember, this is still a loan. It’s not your tax
refund.
Why Have I Never Heard of this
Before?
The 2022 tax filing season is a special tax season
because this is the first time that the H&R Emerald Refund Advance program
has been available to online users.
Previously, you could only get a refund advance if you
applied in an H&R Block store. Understandably, for many taxpayers who
didn’t live in major cities they didn’t have this option.
That’s why the rolling out of this program is a great
counter to the extended waiting period for tax refunds in 2022.
With H&R Block you can get the money you need
right now with an H&R Block Emerald Refund Advance Loan.
What are the Interest Rates?
What makes the H&R Block refund advance a standout
option is the interest rates are different. The big change is that there’s no
interest charged on refund advances.
This may come as a shock for many because practically
every other tax platform does charge interest on the refund advances, they give
out.
To be honest, if you must pay interest on money,
you’re already entitled to it makes sense to wait instead of taking out a
refund advance.
But with H&R Block’s scheme, now you can get a
refund advance without paying more.
How Do I Get My Money?
Once you have been evaluated, you should find that the
money has already been deposited into your account on the same day.
Take note that this money will never be placed in your bank account. It will be
placed on the prepaid H&R Block Emerald Mastercard. You can use this in the
same way as any other type of credit card. However, there’s no overdraft so
make sure you have a high enough balance prior to making a purchase.
What’s the Approval Process?
There are no credit scores to worry
about when you deal with H&R Block. Axos Bank is the lender, in this case.
The approval process works differently from a conventional personal loan.
The main piece of criteria is how much you’re entitled
to based on your tax return. All you need to provide is evidence of your refund
through your taxes and appropriate identification.
It’s a different type of loan because it’s a type of
advance. And the loan time usually only lasts a couple of months at the most.
Who Should Use the H&R Block
Emerald Refund Advance Scheme?
You should always consider whether a refund advance is
right for you. Even though this is a ‘no risk’ loan because you can’t spend
more than your loan amount and the interest rate is 0%, you still need to
figure out if this is the correct move for you.
We always recommend thinking about whether you really
need the money right now. Unless you have an emergency expense to take care of,
you may decide that it’s not worth applying for a refund advance.
It’s widely expected that refund advances will be far
more popular this year, though, due to the additional waiting time for
receiving refunds.
However, you can’t truly decide until you have a rough idea of how much you
could get back through your taxes this year.
Last Word – File Free with H&R
Block Today
H&R Block doesn’t just offer a refund advance
scheme with no application fees and 0% interest. They also offer a tax platform
that can be used for free by most American taxpayers.
They have a range of forms that are available for
Americans with simple tax affairs. It couldn’t be easier to create an account
and get started with them today.
It only takes minutes to file your taxes, and it’s
even faster if you’ve used them in the past because you can simply import your previous
information.
Are you ready for the H&R Block release date?
Comments
Post a Comment