Sometimes when you hire a tax preparer to file your taxes, they may ask if you would like to get your tax refund quickly in the form of a "Fast Cash Refund" or an "Instant Refund". While this may seem tempting and convenient, what they are actually offering you is a very high-cost loan, known as a Refund Anticipation Loan (RAL) or Refund Anticipation Check (RAC), which could end up costing you hundreds of dollars to get your refund a few days early.
Your tax refund money is yours. Don’t spend hundreds of dollars to get your refund a few days earlier.
Updated: January 2017