6 Reasons People Use Income Tax Advances

If you have ever wondered if you should take advantage of income tax advances, it might help to know why other people do. Those people who do take out these loans are probably a lot like you: They look forward to getting a tax return; they work really hard at their jobs, sometimes at two jobs; they have family responsibilities they take seriously; and they sometimes run short of cash with bills still to pay. Let their reasons for using income tax advances inspire you.

1. People Get Income Tax Advances to Cover Expenses until Payday

Like a payday loan, income tax advances can act as the perfect stop gap between running out of cash and getting a new paycheck on Friday. A lot of people use these loans to cover the usual weekly expenses when they run out of money with payday still several days in the future.

2. Some Use Income Tax Advances to Spend Their Refunds Earlier

Other borrowers use income tax advances as a way to get their tax refunds sooner. The IRS can take weeks, or in some cases even more than a month, to send out refund checks. This is especially true if you make an error on your tax return. Some people also use these loans before they even file. If you don’t have time to file until the last minute, these loans allow you to get your refund anyway.

3. Income Tax Advances Help with the Work Commute

Some people turn to our income tax advances simply to make sure they can still get to work. It’s a problem people with more money never have to worry about, but when you live paycheck to paycheck, it’s important to not miss a day of work. A quick loan can get your care fixed right away if it breaks down or pay for gas.

4. People Turn to Income Tax Loans for Unexpected Bills

A really common reason to use loans like these is to pay for things that come up unexpectedly, like when your furnace goes out in the middle of the winter, for example. Income tax loans provide quick and easy cash for difficult situations like this and many people turn to them to cover these emergency costs.

5. Some People Use Income Tax Loans to Avoid Asking Family for Money

One of the most embarrassing things about running short of cash is family or friends finding out. Even worse is asking them for money. A lot of people prefer to turn to loans like these income tax loans as an alternative to asking loved ones for cash.

6. People Use Income Tax Advances When Bank Loans Just Aren’t an Option

Not everyone is able to rely on traditional lending. People who are able to tend to take this for granted, but some people just don’t have the right credit or other resources to get approved for standard loans. These income tax advances are necessary for people who can’t get bank loans.

You might use income tax advances for any of these reasons, or you may have your own personal reasons. Whatever it is, you will find that getting these loans is the easiest way you ever got some extra cash.

6 Reasons People Use Income Tax AdvancesBy Eric Knapp - 3/21/17