James Callis, Miles Doleac, Christiane Seidel Runtime: 2 hours, 8 minutes Available to watch on supported devices.
When you take out a refund anticipation loan, you are borrowing money against your tax refund. If your tax refund is less than expected, you will still owe the entire amount of the loan.If your refund is delayed, you may have to pay additional costs.YOU CAN GET YOUR REFUND IN 8 TO 15 DAYS WITHOUT PAYING ANY EXTRA FEES AND TAKING OUT A LOAN.OTICE CONCERNING TAX REFUND ANTICIPATION LOANS. When you take out a refund anticipation loan, you are borrowing money against your tax refund. If your tax refund is less than expected, you will still owe the entire amount of the loan. If your refund is delayed, you may have to pay additional costs.
You can't claim your entire refi loan as a tax deduction, period. If you itemize deductions on Schedule A, you can write off the interest on your new mortgage, just as you could with the original loan. You can also write off points -- prepaid interest on the loan. If you opt for a cash-out refinance -- for example, you pay off your mortgage and take out enough additional money to buy a car or pay your college tuition -- you can't deduct interest on more than $100,000 of the extra debt.