TaxAct does not offer refund advance loans

TaxAct, the tax preparation software owned by 2nd Story Software, does not provide refund advance loans (also called refund anticipation loans or RALs). If you file your taxes through TaxAct, you will not see an option to borrow against your expected refund before the IRS processes your return.

This is not unusual. Most major tax software companies stopped offering refund advances years ago. The IRS itself does not issue these loans—only banks and tax preparation companies do. TaxAct's decision to exclude this product means you are limited to waiting for the IRS to deposit your refund directly, or exploring refund advance options through other channels.

TaxAct does offer other services tied to your refund, such as the ability to split your refund across multiple bank accounts or have it loaded onto a prepaid card. These are not loans and do not cost you money beyond TaxAct's standard filing fee.

Key Takeaways

  • TaxAct does not offer refund advance loans, so you cannot borrow money before your refund arrives if you file through their software.
  • The IRS typically deposits refunds within 21 days of accepting your return, and you can check status through IRS.gov or the IRS2Go app.
  • If you need money before your refund arrives, you may find refund advances through banks, credit unions, or tax preparation companies that still offer them, though these are less common than they once were.
  • TaxAct's refund split feature lets you direct portions of your refund to different accounts, but this does not speed up the refund itself.
  • Refund advances come with fees and interest, so comparing the cost against waiting for the IRS deposit is worth doing before you commit.

How long the IRS takes to deposit your refund

The IRS says it will issue most refunds within 21 days of accepting your return. In practice, many refunds arrive faster—often within 5 to 10 business days if you file electronically and choose direct deposit. The 21-day window is the outer limit, not the typical wait.

The timeline depends on several factors. If you file early in the tax season (January or February), processing is usually faster because the IRS has fewer returns to work through. If you file in April, closer to the deadline, the queue is longer and processing takes closer to the full 21 days. Errors on your return—a mismatched Social Security number, an incorrect bank account for direct deposit, or a discrepancy with income reported by your employer—can delay processing by weeks or months.

You can track your refund status through the IRS website at IRS.gov using the "Where's My Refund?" tool, or through the IRS2Go mobile app. Both update once per day, usually overnight. If your refund is delayed beyond 21 days, the IRS tool will tell you why and what to do next.

Where to find refund advances if you need one

Refund advances are now offered by a smaller set of providers than in the past. Some tax preparation companies still offer them—H&R Block, for example, offers a "Refund Advance" product in certain states, though availability varies. You can also check with your bank or credit union; some offer short-term loans or lines of credit tied to your expected refund, though they may call them something different.

Online lenders and fintech companies have also entered this space. Some offer loans specifically marketed as "tax refund loans" or "refund anticipation loans." These typically charge a flat fee or a percentage of the loan amount, plus interest. The cost can range from $50 to $300 or more depending on the loan size and the lender.

Before you commit to a refund advance, compare the fee against how long you would wait for the IRS deposit. If your refund is $2,000 and a refund advance costs $150, you are paying 7.5 percent to get the money 10 to 15 days earlier. Whether that trade-off makes sense depends on your situation.

What TaxAct does offer for faster refund access

TaxAct's refund split feature lets you direct your refund to up to eight different bank accounts or prepaid cards. This does not speed up the refund itself—the IRS still takes 21 days or fewer to process—but it can help you move money to different accounts without making transfers yourself after the deposit arrives.

TaxAct also allows you to have your refund loaded onto a prepaid card instead of a bank account. Again, this does not change the IRS processing time, but it gives you another option for how to receive the money once it is ready.

Neither of these features is a substitute for a refund advance. They are tools for managing where your money goes once the IRS sends it, not for borrowing against it before it arrives.

Why refund advances have become less common

Refund advances were once a standard offering from tax preparation companies and banks. In recent years, they have become less common for several reasons. The IRS has pushed for faster processing and direct deposit, which has shortened the typical wait time. Banks and lenders have also become more cautious about the risk—if a refund is smaller than expected or does not arrive, the lender is left holding the loss.

Regulatory scrutiny has also played a role. Consumer protection agencies have raised concerns about the cost and complexity of these loans, particularly for lower-income filers who may not understand the fees involved. Some states have restricted or banned refund advances altogether.

The result is that if you need money before your refund arrives, your options are narrower than they were 10 or 15 years ago. Waiting for the IRS deposit is now the default path for most people, and it is often the cheapest one.

Alternatives if you need cash before your refund

If you cannot wait for your refund and a refund advance is not available or too expensive, consider other short-term borrowing options. A personal loan from a bank or credit union, a cash advance from your employer, or a short-term loan from an online lender may be cheaper or faster than a refund advance, depending on your credit and the amount you need.

If you are in a tight spot, also check whether you may have access to for other government programs or assistance. Local nonprofits, community action agencies, and emergency assistance programs sometimes offer short-term help with bills or expenses. These do not replace a refund advance, but they may reduce the amount you need to borrow.

Another option is to adjust your withholding or tax filing strategy for next year. If you consistently get a large refund, you are lending money to the IRS interest-free. Adjusting your W-4 form with your employer can reduce your refund and put more money in your paycheck throughout the year, so you do not have to wait for a lump sum in April.

How to file with TaxAct and track your refund

If you decide to file through TaxAct, the process is straightforward. You enter your income, deductions, and credits, and TaxAct calculates your refund. You can choose to have it deposited directly to your bank account or split across multiple accounts. TaxAct charges a filing fee—the amount varies depending on which version of the software you use—but there is no additional cost for the refund itself.

Once you file, you can track your refund status through the IRS website or app. TaxAct does not track it for you; you go directly to the IRS. Enter your Social Security number, filing status, and the exact refund amount, and the IRS tool will tell you where your refund is in the process.

If your refund is delayed or does not arrive within 21 days, the IRS tool will explain why. Common reasons include a mismatch in your Social Security number, an incorrect bank account, or an error on your return. The tool will also tell you what to do next—usually contacting the IRS directly or correcting the error.

Frequently Asked Questions

Can I get a refund advance through TaxAct's website or app?

No. TaxAct does not offer refund advances as a product. You can file your taxes through TaxAct and then explore refund advance options through other lenders, but TaxAct itself does not provide this service.

How much does a refund advance typically cost?

Refund advance fees vary widely, from $50 to $300 or more, depending on the lender and the loan amount. Some charge a flat fee, others charge a percentage of the refund. Always ask for the total cost—including any interest—before you commit.

Is it better to wait for the IRS refund or get a refund advance?

That depends on how urgently you need the money and the cost of the advance. If the IRS will deposit your refund in 5 to 10 days and the advance costs $150, waiting is usually cheaper. If you need the money immediately and have no other options, a refund advance may be worth the cost.

Can I split my TaxAct refund across multiple accounts?

Yes. TaxAct lets you direct your refund to up to eight different bank accounts or prepaid cards. This does not speed up the refund, but it lets you divide the money among accounts without making transfers yourself after it arrives.

What should I do if my refund does not arrive within 21 days?

Check the status using the IRS "Where's My Refund?" tool on IRS.gov or the IRS2Go app. If it shows a delay, the tool will explain why—usually an error on your return or a mismatch in your banking information. Follow the IRS instructions to resolve it, or contact the IRS directly if the tool does not provide a clear answer.