With tax refund delays, a Refund Advance Loan could help


Editor’s Note: While our Refund Advance offer ended on February 28, 2022, there’s good news. You can now get your federal tax refund up to 5 days early* when you deposit it directly into your Spending Account with Spruce, a new mobile banking platform. Find out how to get your federal refund faster and get better with money with Spruce.

Spruce is a financial technology platform built by H&R Block, which is not a bank. Banking products provided by Pathward®, N.A., Member FDIC.

Did you know, if you are one of the millions of taxpayers who claim credits such as the Earned Income Tax Credit (EITC), the IRS must hold your entire refund until February 15? If you’re like many taxpayers, a delay of your 2021 tax refund could put you in a financial pinch..

What if there was a way to get money faster? You may even wonder, “where can I get an advance on my tax refund?” With a Refund Advance loanDisclaimer number109. Scroll to bottom of page. at H&R Block, you could get money within minutes of filing your tax return.

Interested in hearing more? Check out the questions and answers below to find out more about how a 2021 tax refund advance could help if you have a tax refund delay.

What is a tax Refund Advance?

The Refund Advance at H&R Block is a no interest loan that is repaid from your tax refund.

That’s money you could receive quickly to pay bills or unexpected expenses.

How much does it cost to apply?

There’s no cost to you to apply. What’s more, the Refund Advance is a loan offered at 0% APR with no loan fees.

How do I get a tax Refund Advance?

To apply for a Refund Advance, you must pass the lender’s eligibility criteria (including expecting a sufficient tax refund from the IRS, e-filing your return in a participating H&R Block office and providing certain consents and valid ID).  If you apply, Pathward, N.A., the lender for Refund Advance, will apply its standard underwriting criteria and approve or deny your application.

Note: While the bank may access your credit report, applying for Refund Advance will not impact your credit score.

How much money is available?

The loan is available in the following amounts:

  • $250
  • $500
  • $750
  • $1,250
  • $3,500

Pathward will determine whether your application is approved and, if so, the loan amount.

If I’m approved, how do I access the funds?

If your application is approved, the loan proceeds are loaded onto your own H&R Block Emerald Prepaid Mastercard.®Disclaimer number110. Scroll to bottom of page.

Why does the IRS have to wait so long to process my tax refund?

The Protecting Americans from Tax Hikes, or PATH Act, is a federal law that passed in late 2015. One of its provisions was to combat tax fraud, which is good news.

The bad news? Due to these changes, the IRS must hold the entire refund of early tax filers with certain refundable credits, (specifically the EITC mentioned above and the Additional Child Tax Credit), until at least February 15 of each filing year. Refund Advance offers potential relief from this delay to your tax refund.

To avoid delays with your 2021 tax filing, be sure to keep an eye out for IRS letters regarding advance Child Tax Credit and stimulus payments if you received those payments in 2021. Learn more about these IRS notices.

When can I apply for a 2021 tax Refund Advance?

The Refund Advance is only available January 4 – February 28, 2022.

Find more information about Refund Advance and how to schedule a tax appointment in a participating H&R Block office.

*Early access to federal refunds depends on the timing of the IRS’s submission of the payment. These funds are generally made available to you the day the payment instruction is received, which in the case of federal tax refunds may be up to 5 days earlier than the scheduled payment date. Early access requires deposit of federal refund directly into your Spruce Spending Account and is not available if you choose a Refund Transfer or other account to first receive your refund. Not available for state refunds. This program may be changed or discontinued at any time.

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