subject: Can't Wait on Your Tax Refund? Apply for a Quick Cash Loan [print this page] Can't Wait on Your Tax Refund? Apply for a Quick Cash Loan
Though the wait time for an IRS tax refund check may be growing shorter, if you are in a tight spot, you simply may not have time to wait. The official IRS website estimates that "If you file a complete and accurate paper tax return, your refund will usually be issued within six weeks from the date it is received. If you file electronically, your refund will normally be issued within three weeks after the acknowledgment date".
For many people, waiting three to six weeks on a tax refund check simply isn't an option. This year, more than ever, Americans are feeling the cash pinch. A recent survey published by the Pew Research Group revealed that in the last few years, many people have suffered financial setbacks: 64% say their household finances were worse during the recession than they had been in previous years, 43% have been unemployed at one point or another, and 60% took money out of savings or retirement to meet expenses. In fact, 42% of those surveyed said that they had borrowed money from friends or family to pay the bills!
These statistics show just how vital cash flow is for so many Americans, and how a 3 to 6 week wait time, is, for many, simply unacceptable.
Thankfully, you don't have to rely on an IRS tax refund to access quick cash this year. Instead, you may find a short term cash loan is a viable option for providing you the money to meet your bills and other financial commitments on time. In the past decade, some taxpayers have grown dependent on rapid refund loans, also known as Refund Anticipation Loans (RALs), that allowed them access to their refund cash early.
Unfortunately, the recession has also brought with it tighter credit markets, making it harder to be approved for such loans. Combine this with increasing IRS rules and regulations that make obtaining RALs more difficult (and less likely), and you'll understand why many people are seeking other options for quick cash this year.If you can't wait around on an IRS refund check, consider applying for one of the many non-traditional loan products, such as payday loans, that allow access to cash which is deposited directly in your bank account for a interest rate based on how much you borrow. This means that you'll know ahead of time exactly how much you must pay, and you can make plans to pay back the funds upon receipt of your refund check.
Short term cash advance loans are an option that more and more people who can't wait on traditional loans, IRS timelines, or RAL rejections are turning to.
