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Think twice before using high-rate refund anticipation loans

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By Theresa Howard

Instead of waiting for tax refunds from the Internal Revenue Service, nearly 10 million consumers, many from low- to moderate-income families, borrow against part or all of their expected tax refunds. These refund loans are heavily marketed by paid tax preparers and immediately put cash into the consumer’s hands, making it seem to be a quick and “painless” way to get cash. The quick cash comes at a price, however.


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The LaRue County Herald News | circulation@laruecountyherald.com | 270-358-3118
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