It’s tax season again, and if you’re expecting a tax refund you’ll probably want to get your hands on it as soon as possible.
In the past, taxpayers had to wait weeks upon weeks to receive a paper refund check from the IRS, but people sought a faster alternative.
The answer for millions has been the refund anticipation loan.
This option is offered by some tax preparation firms and is essentially a short-term loan taken out against your anticipated tax refund.
How a Refund Anticipation Loan Works
[Read more…] about What is a Refund Anticipation Loan (RAL) and is it Worth It?