We all do tax every year, especially the ones who are in a hurry to get the tax returns. Given that it is a very important part of everyone’s yearly schedule, one thing has to be expected that the finance regulation companies are going to get more and more creative. Well, it sure is the time for them to make money too and this means that they will be coming up with ideas that will make them money this season too as you will be doing so yourself. Here is one thing that they have brought to you, and it is rather a new one. And it is taking an advance on your taxes.
What is an easy advance?
Easy advance is a way for all the restless souls who would love to get their returns money even before they have filed their taxes this means that all they have to do is show the proof that you are going to be filing your taxes in the time limit provided by the company. Many major companies loan you the amount of the taxes in advance even before you get to file the taxes.
Should you apply for easy advance?
The main question arises that whether or not should you apply for the easy advance, well the answer to this dilemma is that if you are in a tight situation and you really need the money fast and have been counting on it for some time, we suggest you take it. But here is the thing, they do say that it comes without strings, but one thing's for sure that they are going to make money off of customer in some other way that you haven’t thought through. They all make money by selling off add-on products that can cost you a little bit, and if you buy them, they will approve your easy advance more quickly.
It just depends on what amount of advance you are going to get, some companies can give you advance up to $3000 which is a lot of money given beforehand, but for that, they will need you to go through proper screening method. And one thing should be kept in mind for sure that it is is not always necessary that they are going to accept you.
Odds of approval:
For every company there are different odds of approval, they do a different kind of screening and how strict it depends on the amount of money that they are going to give you along with the background check that they will conduct on you. Every financial company is given a right by you as soon as you provide them your information to get the loan or advance that they do a background check on your finances especially to make sure that they are investing in the right person. Some of the companies will also pay attention to your credit score. So all about the odds of approval comes down to the fact that how are your financial conditions up till now.
But in the whole one thing has to be kept in mind that the advance on your taxes will never come with no strings attached, the companies may say that, but of course, they are not asking you to pay them any fees, but yes they sure will expect you to buy something from them. This means that you will have to spend something even a little if you have to. The advance on your taxes is subject to collecting your financial background to be the wise year long if you need the early tax return.
When you are done with the application and you are approved, it means that you will be given the prepaid card that will have the accepted amount of advance. If after the taxes filed your returns are more than advance you will be paid on either the same prepaid card or any other way you find convenient. And if your advance is more than your returns some companies don’t even want you to give the difference back to keep you as their loyal customer which means a win-win for both partners.
