TurboTax Refund Advance starts accepting applications in early January each year
TurboTax Refund Advance (also called the Refund Advance Loan) typically opens in early January, around the same time the IRS begins accepting tax returns. The exact start date shifts slightly year to year—in 2024 it opened January 9, in 2023 it was January 10. Intuit announces the opening date on the TurboTax website and in the product itself once you start your return.
The advance is a short-term loan, not a refund. TurboTax lends you money against your expected tax refund, and you repay it when the IRS sends your actual refund. The loan amount depends on what TurboTax's lending partner estimates your refund will be, and approval happens within minutes if you meet their requirements.
You can only request the advance while you are preparing your return in TurboTax. Once you file, the option disappears—you cannot go back and request it later. This is why timing matters: you need to complete your return and decide about the advance before you hit the final "file" button.
Key Takeaways
- TurboTax Refund Advance opens in early January each year, and you must request it before you file your return—not after.
- The advance is a loan against your expected refund, not assistance programs, and the loan amount is determined by TurboTax's lending partner based on their estimate of what you will receive.
- If approved, you receive the money within one business day, but repayment happens automatically when your actual refund arrives from the IRS.
- You need a valid Social Security number, a bank account for direct deposit, and a recent tax return or income documentation to be considered.
- The advance closes when tax season ends, usually in late October or early November, so the window to request one is roughly nine to ten months.
How to request the advance while preparing your return
The advance option appears during the final review stage of your TurboTax return, after you have entered your income and deductions but before you file. TurboTax shows you an estimated refund amount, and if you are may be able to access, a button or link for "Refund Advance" or "Get your refund faster" will be visible on that screen.
Click the advance option and TurboTax will ask you to authorize a soft credit pull—a background check that does not affect your credit score. You will also need to confirm your bank account details, since the advance money goes there by direct deposit. The lending partner (which varies by year but has included companies like Pathward and MetaBank) then makes an instant decision, usually within minutes.
If you are approved, you see the loan amount, the repayment terms, and the fee (which TurboTax deducts from your refund when it arrives). You then choose whether to accept or decline. If you decline, you can still file your return normally and wait for your refund through the standard IRS process. If you accept, the money hits your bank account within one business day.
Approval requirements and who gets turned down
TurboTax's lending partner looks at several factors: your Social Security number must be valid and match IRS records, you must have a U.S. bank account set up for direct deposit, and you need a recent tax return or income documentation on file. The lending partner also checks your credit and income to estimate whether your refund will be large enough to cover the loan.
You may be turned down if your estimated refund is too small (the advance is usually capped at $1,500, though this varies), if you have a history of unpaid tax debt, or if your identity cannot be verified. TurboTax does not publish exact thresholds, so you will not know whether you may have access to until you try.
If you are denied, you can still file your return and receive your refund through the normal IRS process. There is no penalty for being turned down, and you can try again next year if your situation changes.
How long the advance takes and when you repay it
Once approved, the advance money reaches your bank account within one business day. If you request it on a Friday, expect the money Monday or Tuesday. If you request it on a holiday or weekend, it may take until the next business day after the holiday.
Repayment is automatic: when the IRS deposits your actual refund, the lending partner takes their loan amount plus the fee directly from that refund. You do not have to do anything. If your actual refund is smaller than the advance, you may owe the difference, though TurboTax's terms typically cap your liability.
The IRS processes most refunds within 21 days of filing, though some take longer if there are errors or if the return is flagged for review. During that waiting period, you have already received the advance money and can use it. The repayment happens automatically once the IRS sends your refund to TurboTax's lending partner.
The cost of the advance and what happens to your refund
TurboTax charges a fee for the advance, typically between $0 and $15 depending on the loan amount and the lending partner. This fee is deducted from your refund when it arrives. You will see the exact fee before you accept the advance, so you know the cost upfront.
The advance does not change your actual tax refund amount—the IRS still calculates and sends the same refund they would have sent without the advance. The advance is simply a loan against that refund. When the refund arrives, the lending partner takes back the loan amount plus the fee, and you receive the remainder (if any) as normal.
If your refund is smaller than expected and does not cover the full loan amount, TurboTax's terms usually protect you from owing the difference. Read the loan agreement carefully before accepting, because the exact terms depend on the lending partner and can change year to year.
What to do if you do not see the advance option
If you are preparing your return in TurboTax but do not see an advance option, it may mean the program has closed for the season, you do not meet the lending partner's requirements, or you are using a version of TurboTax that does not offer it (some free versions do not include this feature).
Check the TurboTax website or your account dashboard to confirm whether the advance is still open. If it is open but you do not see the option in your return, try logging out and back in, or contact TurboTax support to ask whether you are may be able to access. They cannot force approval, but they can tell you why the option is not showing.
If the advance is closed for the season, you will receive your refund through the standard IRS process instead. The IRS typically processes refunds within 21 days, though some take longer.
Frequently Asked Questions
Can I request the advance after I file my return?
No. The advance option only appears while you are preparing your return in TurboTax, before you file. Once you submit your return to the IRS, the advance option disappears and you cannot request it. You must decide about the advance before you hit the final "file" button.
What if my actual refund is smaller than the advance?
TurboTax's lending terms typically protect you from owing the difference. The lending partner takes back the loan amount from your refund, and if the refund is smaller, you do not owe the shortfall. Read the loan agreement before accepting to confirm the exact terms, as they can vary by year and lending partner.
Does the advance affect my credit score?
The initial check TurboTax does is a soft pull, which does not affect your credit. However, if you accept the advance, the lending partner may report it to credit bureaus as a loan. The impact depends on the lender and your credit history, so ask about this before accepting if you are concerned.
Can I get the advance if I owe back taxes or have unpaid debt?
It depends on the type and amount of debt. The lending partner checks for unpaid federal tax debt and may deny you if you owe. Other debts (credit cards, medical bills) may not disqualify you, but the lending partner makes the final decision based on their own criteria.
What if I change my mind after accepting the advance?
Once you accept the advance and the money hits your account, you cannot cancel it. The repayment is automatic when your refund arrives. If you want to avoid the advance fee in the future, simply decline the option when you prepare your next return.