Advance Loans

Forum|Forum|5 years ago
January 26, 2021
10 replies
35 views

Does anyone know why the Pre-Acknowledgement Advance loans are not available with ProSeries? There is an option for a Refund Advance but when I try to file one, Proseries tells me that the electronic filing season starts February 12, 2020.

ProSeries Basic

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IRonMaN

Level 15

"Proseries tells me that the electronic filing season starts February 12, 2020"

That's an interesting coincidence because the IRS tells me that's when it starts too.

Slava Ukraini!

itonewbie

Level 15

Oh, that's interesting. Coincidentally, I heard that Intuit will be happy to "securely store and forward to the IRS" returns that preparers may submit from Jan 28, ahead of Feb 12.

How very thoughtful! But I think I'd rather securely store these returns myself and not be the ~~guinea pig~~ trail blazer for the first batch of e-filing.

Oh, did you also hear that there'll be no advance refund while these returns are secured stored until they actually get processed?

---------------------------------------------------------------------------------Still an AllStar

Alfredo1967Author

Level 4

But other software like Crosslink are submitting for Advance loans thru TPG.

T

TaxGuyBill

I can't imagine any company giving an "advance" on the tax refund would do it until you actually e-file the return.

While some companies have been accepting returns for a couple of weeks, ProSeries doesn't start accepting them until January 28th.

Whether or not Intuit and the associated third-party loan sharks will allow the loans when e-filed starting on the 28th, or if they require you to wait until the IRS accepts the return on February 12th, I don't know.