Last-minute filers are working to ship their returns off to the Internal Revenue Service by the 2021 tax year deadline on Monday, April 18 — and likely are looking forward to a hefty check via their tax refund.
Some tax firms or other lenders might offer the option to get access to those funds sooner, in the form of a tax refund loan, also known as a refund anticipation loan.
Regulatory agencies and advocacy groups have warned of the potential downsides of the loans, especially those that come with hefty fees or high interest rates. Personal finance experts generally don’t recommend them.
