Why am I not getting the refund advance loan option? (2024)

FAQs

Why am I not getting the refund advance loan option? ›

You will not be eligible for the loan if: (1) your physical address is located outside of the United States, a US territory, a PO box or a prison address, (2) your physical address is in one of the following states: IL, CT, or NC, (3) you are less than 18 years old, (4) the tax return filed is on behalf of a deceased ...

If you didn't qualify for Refund Advance, it may be because: Your federal refund was not $500 or more. You did not agree to all the Refund Advance terms and conditions. You owed the U.S. Government or your State.

You can't receive a Refund Advance until the IRS has accepted your return, and the IRS doesn't begin accepting tax returns until January 29th this year.

To get a tax refund loan, you'll typically need to file your taxes with the preparer that provides the loan. You might be able to do so online, but some firms will require that you file in person. The tax preparer will review your application. Besides your tax return, they may look at your income and credit.

You might be refused an advance if you: have enough money to last until your Universal Credit payment. live with your parents, relatives or friends. have any final earnings or redundancy payments.

If you have reached your cash advance limit, then you won't be able to withdraw any more cash. Late payments or over the limit: If you have a history of late payments or have exceeded your credit limit in the past, your credit card issuer may decline your cash advance request.

If your credit report is obtained, your credit history and information will be an underwriting factor in the approval or denial of this credit request.

If you are receiving a federal refund of $500 or more, you could be eligible for a Refund Advance, a loan provided by First Century Bank, N.A., Member FDIC, not affiliated with MVB Bank, Inc., Member FDIC. Refund Advance is a loan based upon your anticipated refund and is not the refund itself. 0% APR and $0 loan fees.

What are the approval requirements for Emerald Advance℠ Loan? Loan amount and approval are based on assessment of your credit worthiness. Both credit and non-credit information, such as credit history and ability to repay, are considered in the loan decision.

Is it too late to get a tax refund advance? ›

Receive your advance minutes after the IRS accepts your e-filed return in many cases. You must open (or have) a Credit Karma Money checking account to receive the funds. Refund advance loans are available through February 29 (or until funds run out, if that happens sooner) for the 2024 tax season.

Having extra funds at your disposal could be helpful, but a high-interest tax refund advance is generally not the way to go. Interest for this type of loan is high, with annual percentage rates upward of 35%. For context, average credit card APRs hover around 20%, while personal loan APRs are around 11.56%.

Visit IRS.gov and click "Get Your Refund Status".

Additionally, your tax return and credit bureau information will be evaluated to determine the likelihood that it will be funded by the IRS. Your application for the Easy Advance may be denied if you have any delinquent child support or outstanding unpaid taxes, student loans or other federal debt.

You might qualify for a tax refund advance loan even if you have poor or fair credit.

To qualify under the Savings Secured Method, you must both deposit and maintain at least $350 in your Emerald Savings Account and select the amount of your credit limit by either designating the amount of your credit limit at an H&R Block tax office or by contacting us at the number on the back of your Emerald Card.

Common reasons include changes to a tax return or a payment of past due federal or state debts.