When will I get my Refund Advance? (2024)

FAQs

How do I know if my refund advance is approved? ›

If you are approved, your Refund Advance funds are typically available within 4 minutes of the IRS accepting your e-filed tax return. The IRS generally starts accepting returns in late January. Once approved, you'll receive an email when your Refund Advance funds are available to spend.

If you're approved, you can often get the funds on the same day. The loan amount, as well as any additional charges, will be deducted from your tax refund.

Fact – While not everyone is approved, the Refund Advance loan program at H&R Block has high approval rates. To be approved, you must apply and meet certain eligibility requirements, (such as ID verification and a sufficient expected tax refund amount), as well as meet the lender's underwriting requirements.

Use the IRS Where's My Refund tool or the IRS2Go mobile app to check your refund online. This is the fastest and easiest way to track your refund. The systems are updated once every 24 hours. You can contact the IRS to check on the status of your refund.

(updated December 22, 2023) We issue most refunds in less than 21 calendar days. However, if you mailed your return and expect a refund, it could take four weeks or more to process your return.

Your Personal or Financial Circ*mstances Have Changed.

Due to a change in circ*mstances, your tax preparer may determine that your refund will be insufficient to issue you a loan from tax refund advance, even if you consistently receive the same amount every year.

Once verified, the money will be deposited to your bank account. When picking “1-2 business day funding to your bank account” money will be deposited to your bank account on file. Money will be deposited into your account in 1-2 banking business days.

The amount of the advance loan is typically based on a portion of the full amount of your estimated tax refund minus tax preparation service charges and other fees. This is a short-term loan, usually for less than one month or until the IRS sends your full refund to the tax preparer.

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%.

Request an expedited refund by calling the IRS at 800-829-1040 (TTY/TDD 800-829-4059). Request a manual refund expedited to you.

Is there a way to borrow against your tax refund? ›

A RAL is a loan that allows a taxpayer to borrow against an anticipated income tax refund. These loans actually are made by banks but are often offered by tax preparers, and sometimes by CPAs, in conjunction with preparation of the tax return.

Day of the week for IRS refund deposits

The IRS typically processes tax refunds and executes direct deposit transactions within 21 days after accepting your tax return. It's common for the IRS to issue refunds on business days, from Monday through Friday.

If the IRS is reviewing your return, the review process could take anywhere from 45 to 180 days, depending on the number and types of issues the IRS is reviewing.

You can check on refund status by phone: 1-800-338-0505 or +1 (916) 845-6500 (outside the U.S.) Weekdays, 7 a.m. to 5 p.m. You can check on refund status by chat. Sign into MyFTB to chat weekdays, 7 a.m. to 5 p.m.

Quick IRS Response: E-filing? Expect the IRS to acknowledge your return within 24 to 48 hours. IRS Refund Timetable: Post-acceptance, the processing time typically unfolds on an IRS-determined schedule. Speedy Refund Delivery: The majority of refunds are dispatched within 21 days of e-file acceptance.

For faster service, please call 1-866-876-6648.