TaxSlayer is proud to have been the first tax prep software to offer a refund advance totally online. TaxSlayer’s Refund Advance, formerly refundNOW, is back and better than ever.
What is TaxSlayer’s Refund Advance?
TaxSlayer’s Refund Advance is an optional no-interest loan that is subtracted from your total federal refund amount to be issued by the IRS. The loan amount (either $500 or $1,000) is then deposited onto a TaxSlayer Prepaid Visa ® Card, powered by Green Dot, and becomes available for you to use in as little as 24 hrs.
How do I apply for TaxSlayer’s Refund Advance?
To be eligible for TaxSlayer’s Refund Advance you will need to have a W-2 and a current government-issued ID, and you must prepare your return with TaxSlayer. Additional eligibility requirements and underwriting standards will also need to be met during the e-filing process.
You must apply for a TaxSlayer Prepaid Visa® Card and be approved by Green Dot. From there, you can apply for TaxSlayer’s Refund Advance and finish e-filing.
How will I receive my money?
Once you apply, the IRS must accept your federal tax return before the advance can be processed. If you’re approved, the loan amount ($500 or $1,000) will be subtracted from your total federal refund amount issued by the IRS. Then it will be deposited onto a TaxSlayer Prepaid Visa® Card powered by Green Dot.
First, you will have access to a temporary virtual card. Your temporary virtual card will be valid for 15 days or until you activate your physical card. This will give you access to your money while you wait for your physical card to arrive in the mail. You can access the temporary virtual card during the e-file process with TaxSlayer and after e-filing, you can find it in the Green Dot app.
After the IRS processes your return, the remainder of your refund (minus any TaxSlayer prep fees) will be deposited typically within 21 days on your TaxSlayer Prepaid Visa® Card.
What refund advance amounts are available?
The loan amount can either be for $500 or $1,000. The amount you can qualify for will depend on your federal tax refund amount.
When will I get my refund advance?
Once the IRS accepts your federal tax return, approval can happen in as little as 24 hours.
After you’re approved, the money will be loaded onto a TaxSlayer Prepaid Visa® Card powered by Green Dot. Your will temporary virtual card allows you to access your money almost immediately. Your physical card will arrive in the mail within 5-10 business days.
What if I’m not approved?
If you apply for a loan and are not approved, your federal tax refund will still be placed on your TaxSlayer Prepaid Visa® Card minus any agreed-upon fees. It typically takes 21 days from the time the IRS processes your return to receive your full federal refund on your card.
For more information, visit TaxSlayer.com.