2024 Jackson Hewitt Early Refund Advance: Apply for $1000 and Know Payment Date

Updated on February 23, 2024

Some tax preparation firms, like Jackson Hewitt, offer interest-free tax refund loans to provide you with money while awaiting your tax refund. These loans involve borrowing money from the tax preparation business, and your tax return serves as the repayment, without any interest or set repayment schedule. This allows you to access your refund sooner. However, it’s important to note that certain tax returns may involve fees to the tax preparer.

Paying a tax preparer solely for the advance can be likened to paying for the convenience of accessing your own funds. To find out more about Jackson Hewitt’s Early Refund Advance for 2024, including how to apply for a $1000 refund and the maximum amount you can receive, check this page for detailed information.

2024 Jackson Hewitt Refund Advance

To save you from carrying an extra card in your wallet, Jackson Hewitt offers direct deposit along with prepaid card choices. No fees are refunded. You can access interest-free advances up to $3,500, and an additional $1,000 is possible with a fee.

To apply for Jackson Hewitt Early Refund Advance 2024, visit a branch as there is no online application available. Direct transfers may take up to five business days to reflect in your account. Eligibility considers factors such as tax liens, child support, and school debts.

See also  Canada's Maximum Pensionable Income and Contribution Limits

Understanding Tax Refund Advance Loans

Tax refund advance loans are short-term loans repaid using your upcoming IRS tax refund. Typically available from December to February, these loans range from $250 to $4,000. Once granted, Jackson Hewitt’s tax refund advance for 2024 deducts the amount from your tax refund. Some loans offer direct transfers to a bank account within days or a prepaid card within 24 hours.

To qualify for a tax refund loan, you may need to pay a tax preparation charge to the loan provider for filing your taxes. Keep in mind that there could be minimum refund requirements, and your actual refund might be smaller than expected.

Eligibility for Jackson Hewitt’s 2024 Tax Refund Advance

Jackson Hewitt collaborates with Republic Bank & Trust Company to offer the tax refund advance. While specific prerequisites are not outlined, eligibility is assessed based on the following factors:

  1. Identity verification
  2. Credit history
  3. History of payments to the IRS
  4. Status of tax liens, child support, and education loans

These criteria are considered to determine if you meet the requirements for the tax refund advance.

Applying with Jackson Hewitt: Simple Steps

To apply for a Jackson Hewitt Early Refund Advance Loan in 2024, you need to visit a local Jackson Hewitt office. Submit a completed application along with necessary documents and proof of income. If you’re interested in the No Fee Refund Advance Loan, you’ll need to fill out an in-person application after filing your taxes, providing a W2 form or alternative income proof.

December 2023 Tax Refund Cash Advance Amount

Between December 11, 2023, and January 14, 2024, you may qualify for an Early Refund Advance loan ranging from $100 to $1,000 (with a finance charge). Applying for an Early Refund Advance loan also initiates an application for a No Fee Refund Advance loan.

See also  Anticipated UK Employee Salary Rise in 2024

Starting January 2, 2024, until February 11, 2024, when it’s time to file your taxes, you can apply for a No Fee Refund Advance loan, with the opportunity to receive up to $6,500 without any finance charge as both fees and interest are waived.

Cost of Early Refund Advance

The application is free of charge, and there are no monthly payments, yearly fees, or application costs, unlike many other tax firms that provide early money. However, it’s important to note the presence of a Finance Charge. Refer to the table below for details between December 11, 2023, and January 14, 2024.

ERAL Amount Estimated APR Finance Charge
USD 100 35.53% USD 7.30
USD 300 35.53% USD 21.90
USD 500 35.53% USD 36.50
USD 1,000 35.53% USD 73.00

 

Pros and Cons of Jackson Hewitt Early Refund Advance 2024

Pros Usually, there is not a hard credit pull.
Most loans are interest-free
Funding happens quickly.
Cons It is likely that there will be a tax filing charge.
It might be necessary for you to create an account or debit card with the tax preparer of your choice.
The IRS tax refund is reduced by the loan.

 

Leave a Comment