6 Facts about Income Tax Loans
What do you know about income tax loans? If your answer is not much, you need to know these fascinating and important facts. When you have all the information, you’ll realize that income tax loans really make sense in certain situations. Here’s what you need to know:
1. Income tax loans are available year-round
It’s a reasonable assumption to make, that income tax loans would only be available during tax season, but the truth is that you can get them at any time of year. For many people taxes are only a concern from January to April 15, but for a lot of people tax issues come up year-round. This is why you can access these loans any time.
2. You can apply for income tax loans online
Income tax loans are not restricted to tax preparation offices. If you do get your taxes prepared by a professional, they may offer you a loan, but you don’t have to accept the offer. You can shop around and get a better deal, including our online loans. To apply you only need to go online and fill out an application page, or you can even apply by using a convenient mobile app.
3. A refund is not a requirement to get approved for income tax loans
If you are interested in income tax loans, you should know that having a refund coming is not a requirement for approval. You can even owe the government and still get income tax loans. In fact, this is a great reason to take advantage of these loans, especially if you don’t have the cash on hand to pay your tax bill.
4. Income tax loans are affordable
All loans cost money, but they don’t all cost the same. If you assumed you couldn’t afford income tax loans or that they just didn’t make sense for your income level, think again. You can get a small and short-term loan, which is great for keeping interest costs low. When you only borrow the little bit that you need, and you repay it with your next paycheck, a loan is very affordable.
5. Income tax loans provide quick cash when you really need it
One of the best reasons to take advantage of income tax loans is that they provide quick cash. When you need extra money, for whatever reason, and you need it fast, these loans give you just what you need. If you apply right now, you’ll be approved in a matter of minutes, and if you get approved today, you will probably get the money tomorrow morning.
6. You can get approved for income tax loans even if you have bad credit
A major roadblock to borrowing money for many people is bad credit. It’s an unfair punishment, but so many American suffer from poor credit because they earn too little to be able to pay bills on time. This leads to late fees and bad credit reports. The good news is that with these income tax loans, a low credit score is not a roadblock. You can still get approved if you can prove that you have a good job history and a steady income.