Refund Anticipation Loan 2009

Question: If you owe less taxes from a previous year then the refund you are about to get- What happens?

Ok efile on 1/14/2011 for 2010- refund 2500
owed from 2009 and not yet paid 120.00.
Will the balance 2380 go directly into bank in 8 to 14 days?

Need money for a medical problem quick! Thanks! Or would a refund anticipation loan from H and r block be a faster way?

Answer: You will need to check with HR Block.

My understanding is that if anyone owes any money to IRS then you will not qualify for refund anticipation loan.

However, if they e-filed the return, there is no rejection from IRS, then IRS will approve and you will get refund application loan based on that refund.

I hope this helps.

Pekay

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A tax preparer who worked out of a Lancaster city pawn shop fabricated bogus expenses and deductions on dozens of customers’ returns so she could inflate their IRS refunds, according to federal authorities. By doing so, the Leola woman rang up larger commissions for herself and more business for her…

2009 Don Dare – Refund Anticipation Loans