Avoid Tax Refund Fees

Avoid Tax Refund Fees: From USA.gov:
"With the tax filing deadline quickly approaching, you might hear ads persuading you that you can get your tax refund faster with a tax refund loan (also known as a refund anticipation loan).

A tax refund loan is a loan from a paid tax preparer, based on the amount of money you are expected to receive as a refund. It may seem like a great way to get your money within a couple of days, but the interest and fees on these loans can be very costly and take a huge chunk out of the money you actually receive.

However, there are ways you can avoid steep fees, keep all of your refund, and still get your refund relatively quickly:

• Find out if you are eligible for free tax preparation services at a VITA site
• File your taxes electronically
• Have your refund deposited directly into your bank account
• Avoid cashing your tax refund at check cashing locations that charge a fee for that service.

You can use the IRS’s “Where’s My Refund?” tool to determine the status of your refund.
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