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Tax Refund Loan Alternatives – Expert Advice

tax forms on desk

The IRS has warned that they are backlogged with tax returns already. This means there’s a good chance that this year’s tax refund check may not be in your mailbox when you’d hoped. Did you have a vacation, home repairs, or large purchases in mind for that check? Don’t let the IRS delay derail your plans. Consider a tax refund loan while you wait.

Do You Need a Tax Refund Loan?

Unfortunately for many consumers, facing a delay in their tax refund this year will cause them to miss the opportunity to take advantage of the “refund sales.” These sales are offered by companies taking advantage of the refund season to sell big ticket items, and for potential customers, the savings can be significant. You may have booked a vacation, counting on the refund, or hired a contractor to do much-needed property repairs. It’s like a game of dominos that no one wants to play. The first domino, a delayed tax refund, causes the rest to fall. One way to make sure your plans aren’t sidetracked is to get a fixed-rate low-interest loan. With an installment loan, you can make payments monthly until you get your refund, and then pay off the balance when the check comes. You can get your money in hand without the wait and frustrating delay.

What if I Owe Taxes This Year?

Paying the IRS is something no one wants to do, but if you find yourself in a position where it’s inevitable, you’ll want to pay that money back immediately, preferably on the same day as you file the return. The IRS charges outrageous interest and massive late fees for every month you haven’t paid. What may start as only owing $500 will quickly escalate out of control, ending up with you in debt to the IRS for thousands of dollars. They can also garnish your paycheck, and even place a lien on your home or vehicle.
It’s better to pay your taxes when you file, but chances are you don’t have the money lying around in a special “IRS Payment” account. Getting an emergency personal loan is a better, more predictable way to pay your outstanding taxes.

Let Bay Country Financial Lend You a Hand

Whether you’re going to be caught a little short by the tax refund delay, or you will need help meeting your tax obligation this year, Bay Country Financial Services has you covered. Reach out to one of our friendly professional team members today to make sure your tomorrow is exactly as you planned it.