TurboTax Refund Advance typically opens in late January or early February each year

TurboTax Refund Advance is a short-term loan against your expected tax refund, offered through a partnership between Intuit (TurboTax's parent company) and a lending partner. The program usually becomes available once the IRS begins accepting returns for the tax year, which in 2025 is January 27. However, the exact date TurboTax makes the advance available to users can vary by a few days or weeks, and it depends on when their lending partner is ready to process applications.

You will see the Refund Advance option within the TurboTax software or website once it launches. It appears as an offer during the filing process, typically after you have completed your return and are reviewing your refund amount. The advance is not automatic—you choose whether to take it, and you only pay it back if you actually receive a refund.

The loan amount is limited to your expected refund, capped at a maximum (which has been $500 in recent years, though this can change). If you are approved, the funds are usually deposited within one to three business days, though this timeline can vary depending on your bank and the lending partner's processing speed.

Key Takeaways

  • TurboTax Refund Advance becomes available after the IRS opens the filing season, which in 2025 starts January 27, but the exact launch date within TurboTax may be a few days later.
  • You must complete your tax return within TurboTax before you can see whether you are offered the advance or what amount you might receive.
  • The advance is a loan you repay from your refund, so you only owe money back if the IRS actually sends you a refund.
  • Approval is not may provide and depends on the lending partner's underwriting, which typically takes a few minutes to a few hours.
  • If approved, funds usually arrive within one to three business days, though delays can happen depending on your bank's processing time.

How to check if you are offered the advance

Once you have entered your income, deductions, and other tax information into TurboTax, the software calculates your expected refund. At that point, if the Refund Advance program is active and you meet basic criteria (such as being a U.S. citizen or resident alien with a valid Social Security number), TurboTax will show you the offer.

The offer appears in a clear section of the review screen, usually labeled "Refund Advance" or "Get your refund faster." It will show the maximum amount you can borrow against your refund. You are not required to take it—declining the offer means you proceed with your normal refund, which the IRS will send on its standard timeline (typically 21 days or longer, depending on how you filed and whether the return requires review).

If you do not see the offer, it may mean the program has not yet launched, or you may not meet the lending partner's criteria. Checking TurboTax's website or the software itself will confirm whether the program is currently active.

What happens if you are denied

Not everyone who is offered the advance will be approved. The lending partner runs a credit check and reviews your process in real time. A denial can happen for reasons such as insufficient credit history, recent delinquencies, or other underwriting factors the lender uses.

If you are denied, you still file your tax return normally and receive your refund through the standard IRS process. A denial from the lending partner does not affect your refund or your ability to file. You can also reapply in future years if your financial situation changes.

Fees and repayment terms

TurboTax Refund Advance is interest-free, but there is typically a flat fee if you are approved and accept the loan. In recent years, this fee has ranged from $0 to $15 depending on the loan amount, though the exact fee structure can change year to year. TurboTax discloses the fee before you accept the advance, so you will know the total cost before committing.

Repayment is automatic: when your refund arrives from the IRS, the lending partner deducts the loan amount plus the fee and deposits the remainder to your bank account. You do not make separate payments or sign additional paperwork beyond what you complete within TurboTax.

If your refund is smaller than expected or the IRS reduces it due to an audit or offset, the lending partner may pursue you for the difference. This is rare, but it is a real risk of taking the advance—you are borrowing against an amount the IRS has not yet confirmed.

Timeline from process to deposit

Once you submit your process for the Refund Advance within TurboTax, the lending partner typically makes a decision within minutes to a few hours. If approved, you will see a confirmation screen with the loan terms and the fee. You then accept or decline.

After you accept, the funds are usually deposited into your bank account within one to three business days. This timeline depends on your bank's processing speed and whether the deposit is sent on a business day. Deposits sent on a Friday or before a holiday may not appear until the following business day.

Your tax return itself is filed separately and on its own timeline. The Refund Advance does not speed up the IRS's processing of your return—it straightforward gives you access to the money before the IRS sends your refund.

Alternatives if the advance is not available or you are denied

If TurboTax Refund Advance is not yet active, you can file your return and wait for your refund through the standard IRS process. The IRS typically issues refunds within 21 days for returns filed electronically, though complex returns or those requiring verification can take longer.

If you are denied the TurboTax advance, other options include asking your bank whether they offer a refund anticipation loan (some banks do, though these are less common than they once were), or straightforward waiting for your IRS refund. Some tax preparation services also offer refund advances, though terms and fees vary widely.

You can also file your return for free through the IRS Free File program if you meet income requirements, which may save you money on tax preparation fees and leave more of your refund intact.

Frequently Asked Questions

Can I take the Refund Advance if I owe taxes instead of getting a refund?

No. The Refund Advance is only for people who expect a refund. If your return shows that you owe taxes, the advance is not available. You would need to pay what you owe to the IRS separately.

What if the IRS rejects my return or asks for more information?

If the IRS contacts you about your return after you have taken the advance, you are still responsible for repaying the loan. The lending partner will deduct the loan amount from whatever refund you eventually receive, even if it is smaller than originally expected or if the IRS denies part of your refund.

Does taking the Refund Advance affect my credit score?

The lending partner does a hard credit inquiry to approve you, which may temporarily lower your score by a few points. However, the advance itself is a short-term loan that is repaid within weeks, so the impact is usually minimal and short-lived.

Can I change my mind after accepting the advance?

This depends on the lending partner's terms, which TurboTax discloses before you accept. Some lenders allow you to cancel within a short window (such as 24 hours), while others do not. Check the confirmation screen carefully for any cancellation options or important date.

What if my bank account information is wrong?

If you enter an incorrect bank account number, the deposit may be rejected or sent to the wrong account. Contact the lending partner's customer service when ready if this happens. They can attempt to recover the funds or reissue the deposit to the correct account, though this can add several days to the process.