IRS EFile: Refund Anticipation Loan (RAL)

How quickly can I get my refund?

To check the progress of your current year's refund, call 1-800-829-4477 and use the refund status option offered on the TeleTax system. Some refunds may be delayed because of compliance reviews to ensure that returns are accurate.

If you file a complete and accurate tax return and you are due a federal refund, you should receive your refund:

• Within several days via Refund Anticipation Loan (RAL) if you qualify and file electronically.
• Within 2 weeks after the acknowledgment date if you file electronically, and you elect to receive your refund via Direct Deposit.
• Within 4 weeks after the acknowledgment date if you file electronically, and you receive your refund via U.S. Mail.
• Within 6 weeks from the date the IRS receives your return, if you file via U.S. Mail.

For more specific information regarding anticipated refund dates with electronic filing, see IRS Publication 2043, IRS e-file 2008 Refund Cycle Chart.

What exactly is a refund loan and how do I pay the charge?

The Refund Anticipation Loan (RAL) is a third-party service offered by Republic Bank and Trust Co. With the RAL you will usually receive your refund within several days of the IRS acceptance of your return. There is a charge determined by the refund amount (see below) for the use of this service which is deducted from your refund before it is deposited.

Do I have to use electronic filing in order to get a Refund Anticipation Loan (RAL)?

Yes. There are other determining factors as well. You may view more details here.

Do you offer a Refund Anticipation Loan (RAL)?

We have teamed up with Republic Bank and Trust Co. to offer you the option to receive your refund even faster with a Refund Anticipation Loan (RAL).

1. If your return qualifies for electronic filing, you will be given the option of receiving your federal refund via a Refund Anticipation Loan (RAL).
2. You can track the status of your RAL by contacting Republic Bank and Trust Co..
3. RAL is available only for the federal return.
4. Once your RAL has been accepted, the fee (see below) for the loan will be deducted from your refund before it is deposited.

Can I use the Refund Anticipation Loan (RAL) if I am receiving an Earned Income Credit?

Yes, a refund resulting from Earned Income Credit is eligible to apply for the Refund Anticipation Loan (RAL).

How do I check the status of my Refund Anticipation Loan (RAL)?

From our Home page you should select the tab E-File Tools & Info. The last option in the list will be RAL Status. You will be required to enter some personal information pertaining to your return in order to get the status of your RAL.

I do not have a credit card, how can I acquire the service? Are there any other payment options?

We have teamed up with Republic Bank and Trust Co. to offer you the option to pay the tax preparation fee from your refund.

1. This service is available for returns with a federal refund only.
2. To take advantage of this service, you must electronically file your return and deposit your refund into your personal bank account.
3. The bank processing fee for this service is $19.95. This fee will be deducted from your refund before it is deposited into your account.
   
Important Note: This fee is in addition to the tax preparation fee.
4. Your refund must be large enough to pay both the tax preparation fee and the bank processing fee.
5. If you use our Refund Anticipation Loan (RAL) to get your IRS tax refund, there is no additional charge to pay your preparation fee from your IRS tax refund.

We also accept ATM cards which have either a VISA, or MasterCard logo on them (i.e. check cards)

Do I have to enter all the numbers and letters for my account?

Yes. Your account number should be entered as assigned by your bank.

What happens if I apply for a Refund Anticipation Loan (RAL), and I am turned down?

It is important to note that the RAL is a third party transaction through Republic Bank and Trust, with an attached fee (see below). If, for some reason, Republic Bank and Trust denies the refund loan, they will convert your request to an Electronic Refund Deposit (ERD). Republic Bank and Trust will deduct $19.95 from your refund to cover their expenses for processing the loan request and handling the ERD.

Is it safe for me to enter bank information on the Internet?

Absolutely! When transmitting information between you and the program server, data security is handled through a security protocol called Secure Sockets Layer (SSL). SSL is an established and mature Internet security standard with two dominant features: data encryption and web server authentication. Go to the website you used to access the program and review our privacy policy for additional details.

How do I know what my RTN (routing transit number) is?

The RTN is the first sequence of numbers in the lower left corner of your checks or savings account deposit slips. It is the nine-digit designator for your bank. The first two digits of the RTN will be either 01 through 12 or 21 through 32. If you are using a savings account, and the number is not listed, you will have to contact your bank.

I wanted a Refund Anticipation Loan (RAL), but I don't see anything about it in my filing instructions. What happened?

There can be several causes. Please check each of the following:

• The Refund Anticipation Loan (RAL) is only available to electronic filers. In order to verify that you are filing electronically, check the messages in the Tax Return Summary to ensure that your return qualifies for electronic filing. You can access the summary by selecting the Review Return link from the bottom of any page in the program.
• On the Filing Options page, Step 1 on the Steps to File page, verify that you selected Refund Anticipation Loan (RAL) to answer the question, "If your return results in a refund, how do you want to receive your refund?"
• Verify your federal refund amount is greater than the amount you entered in the question, "I only want the Refund Anticipation Loan (RAL) if my refund is more than:" on the Bank Information page just after the Filing Options page.

Will the fee for my Refund Anticipation Loan (RAL) loan be charged to my credit card?

No. Once your Refund Anticipation Loan (RAL) application has been accepted by Republic Bank and Trust Co., the fee will be deducted from your federal refund before it is deposited.

If you do not qualify for the RAL, Republic Bank and Trust Co. will deposit your refund directly into your bank account within two weeks of the date of acceptance by the IRS. Instead of the finance charge, Republic Bank and Trust Co. will deduct a fee of $19.95 from your refund.

What happens if I leave the question referring to the minimum refund blank?

A default amount of $300 will be entered in this box, since you will not be able to use the Refund Anticipation Loan (RAL) service if your federal refund is less than $300. You may elect not to use the RAL service if your federal refund is less than the amount you enter in this box. If your federal refund is less than that amount, you will receive your refund by direct deposit instead of RAL.

 

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