If you are like I was during tax year, then you may have had a similar problem. I remember all too well what it was like to have to pay taxes and then pay them off to only see I had a large problem now laid out in front of me; how could I pay the bills at the end of the month? A friend of mine had recommended me to his own tax professional and told me to ask about tax return loans or as they were sometimes called the RAL.

I was used to doing taxes by myself and usually I would get a refund and would have no problem before but this case was different; I had no job for three months after being laid off so I had to take money from my savings normally that would pay my taxes easily in order to survive. I never thought I would need to take out a loan and a bank probably wouldn’t have given me one anyway.

So began my trek to learn what is the tax return loan. Basically, I would have my taxes done by a professional who would then connect to a bank which would give me a loan based on how much I earned. The bank would then give me the money and when the actual refund would arrive, they would use that to pay off my loans. My taxes would be paid off and the loans would be no problem. I was very doubtful at the time because I didn’t like the idea of taking out a loan and possibly not getting a tax refund because then I would end up just owing the bank which would be a disaster. I did it in the end and just as planned out I got my refund and my RAL was easily paid off. Now I am out of financial trouble and next year will have no financial conundrums thanks to the tax return loans.

I realized through this is really a great resource for anyone in financially tough times and now it seems many people are still in the situation I was just a few months back.

It is a great loan to have because not only can you pay the IRS without needing to possibly file for an extension, but you can also pay off your bills in a timely manner such that they won’t pile up. If you are financially sound, then a tax return loan may not be necessary but for people who just got out of college, it may be a wiser idea to research this in case you do not find work or if you lose your job temporarily. In times of financial crisis, it is best to be as prepared as possible.

Tax return loans are really great and helped me avoid a financial disaster. If I did not take my friend and the professionals advice, I probably would have been in horrible debt right now. Times are hard. It is better to know about tax return loans just in case it is ever needed.