Early Refund Advance Loan: How does a holiday loan work?

What is an Early Refund Advance loan?

Before we dive into the details, let’s cover the basics of refund advance loans. Simply put, they’re an advance on your tax refund. These loans typically give you an opportunity to get the money you have coming to you when you file your taxes—but before you get your tax refund.

In the case of Early Refund Advance, you get access to funds even before you file. Using your paystub(s), a Jackson Hewitt Tax Pro can help you apply, and if approved, get your Early Refund Advance as early as December 11, so you can have money for the holidays.

When can I get a tax refund advance loan early?

Starting December 11, if approved for an Early Refund Advance, you could get up to $1,000 the same day you apply, in plenty of time for the holidays! In fact, we have a Money Today Guarantee². If you’re approved for the loan on a prepaid card offered at Jackson Hewitt, we guarantee you’ll get your money the same day your loan application is approved. Otherwise, we’ll give you $50.

How much money can I get from the Early Refund Advance loan?

You can qualify for $100-$1,000 from December 11, 2023, to January 14, 2024, for the Early Refund Advance loan¹. That would be up to $1,000 in time for the holidays with your paystub (Finance Charge applies). When you apply for the Early Refund Advance, you’ll also start an application for a No Fee Refund Advance loan.³

You could get a No Fee Refund Advance loan from $250-$6,500 between January 2, 2024, and February 11, 2024, when you come back to file your taxes—you won’t even pay a Finance Charge for that.

How do I get my Early Refund Advance money fast?

It’s easy. A Jackson Hewitt Tax Pro will take your most recent paystub(s), estimate the size of your tax refund, and help you apply for an Early Refund Advance loan. If approved, you can get money without waiting for your tax refund—typically in minutes if you get your loan on a prepaid card.

How do I apply for an Early Refund Advance loan?

Schedule an appointment with a Tax Pro as early as December 11. Make your appointment early. They go quickly, and we want to be able to find the best time for you to come to one of our 5,200 local offices across the country.

When you come in, make sure you bring your most recent paystub(s). Your Jackson Hewitt Tax Pro will do much of your tax return to estimate the size of your tax refund and help you apply for an Early Refund Advance loan. If approved, you can get money without waiting for your tax refund—typically in minutes, on a prepaid card. That means you can receive the Early Refund Advance loan before your W-2s, or other tax documents arrive in January.

Do I have to pay anything upfront?

No, it’s free to apply. To make it easy to repay your advance, we arrange to have your refund advance amount and finance charge come right out of your tax refund.

How do I find a participating location that is offering Refund Advance loans and book an appointment?

You can find your nearest open location here. Book your appointment online or call a local office directly.

How much does a refund advance cost?

It costs nothing to apply. Unlike some tax companies that offer money this early, there's no application fee, no annual fees, and no monthly payments. It’s important to note that there is a Finance Charge. Take a look at the chart below for more information.

Early Refund Advance: Money in time for the holiday

December 11, 2023 – January 14, 2024

Remember, book your appointment starting January 2, 2024, to come back for your No Fee Refund Advance, which has no finance charge. Just come in when you’re ready to file your taxes.

How long will it take to get my Early Refund Advance loan?

We offer a Money Today Guarantee for people who are approved for a tax refund advance loan and choose to receive funds on a prepaid card. If we don’t get it to you the same day, we will give you $50². We believe you shouldn’t wait weeks for the money you need today for you and your family.

As we all know, the holidays are the most wonderful time of the year. It’s filled with magic, generosity, and connecting with others unlike any other season for people of all ages. We want to help you create the best and brightest holiday yet. Find a local Jackson Hewitt Tax Pro near you today.  We are here to answer any questions you may have during the holidays, this tax season and year-round.

Will applying for an Early Refund Advance loan impact my credit score?

No, applying for and receiving a Tax Refund Advance won’t impact your credit score.

In fact, you can get approved for an Early Refund Advance loan at Jackson Hewitt even if you don’t have a good credit history, or if you’ve been denied credit in the past. 

Documents needed for an Early Refund Advance loan

To complete your Early Refund Advance loan application, you just need to bring a recent paystub, a government-issued ID, and all Social Security cards for individuals filing and those claimed on the return, so that our Tax Pros can estimate how much your tax return may be this year. Then, once you get your W-2, just come back to file your taxes, and you could get another tax refund advance, with no fee ³.

Product disclosures

Early Refund Advance is available to individuals who apply for a No Fee Refund Advance. No Fee Refund Advance application requires filing your taxes with Jackson Hewitt beginning January 2, 2024.

¹ Early Refund Advance: The Early Refund Advance (“ERA”) is a loan secured by and paid back with your tax refund and is offered by Republic Bank & Trust Company, Member FDIC, to eligible taxpayers that apply for a No Fee Refund Advance from 12/11/23-1/14/24. ERA loan amounts are determined by your expected Federal refund less authorized fees and underwriting. If approved for an ERA, a Finance Charge will apply. Loan amounts available are $100, $300, $500, and $1,000. To be eligible for the $1,000 ERA, your expected Federal refund less authorized fees must be at least $2,600, and most approved applicants get $500.  ERA is subject to underwriting and approval. Loan proceeds are typically available within same day of approval if disbursed on a prepaid card offered at Jackson Hewitt offices or in 1-5 business days with direct deposit. Terms and restrictions apply. Ask a tax pro for more info about the cost and timing of all filing and product options. Jackson Hewitt is a Rhode Island Licensed Loan Broker and holds other relevant licenses for the locations where this product is offered. Finance Charges are not applicable in all locations.

²Money Today Guarantee: The Money Today Guarantee is only available to clients who (i) are approved for an Early Refund Advance loan; (ii) elect and are eligible to receive loan funds on a prepaid card offered at Jackson Hewitt offices. Loan application must be submitted by 11pm local time. If funds are not credited to your card before 12am local time, Jackson Hewitt will credit $50 within 2 weeks to your card if available or provide you a $50 eGift card. Fees, terms and conditions apply to the prepaid card.

³No Fee Refund Advance: The No Fee Refund Advance (“NFRA”) is a loan secured by and paid back with your tax refund and is offered by Republic Bank & Trust Company, Member FDIC, to eligible taxpayers. NFRA Loan amounts are determined by your expected Federal refund less authorized fees and underwriting. Requires filing your taxes with Jackson Hewitt. Available 1/2/24 through 2/11/24. Loan amounts available are $250, 500, $750, $1,000, $1,500, $2,500, $3,500, $4,500, and $6,500. No loan fee applies. Loan proceeds available within same day of approval if disbursed on a prepaid card offered at Jackson Hewitt offices or in 1-5 business days with direct deposit. Terms and restrictions apply. Ask a Tax Pro for more info about the cost and timing of all filing and product options.  

About the Author

Mark Steber is Senior Vice President and Chief Tax Information Officer for Jackson Hewitt. With over 30 years of experience, he oversees tax service delivery, quality assurance and tax law adherence. Mark is Jackson Hewitt’s national spokesperson and liaison to the Internal Revenue Service and other government authorities. He is a Certified Public Accountant (CPA), holds registrations in Alabama and Georgia, and is an expert on consumer income taxes including electronic tax and tax data protection.

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