A refund anticipation loan (RAL) is a short-term consumer loan secured by a taxpayer’s expected tax refund, and designed to offer customers quicker access to funds than waiting for their tax refund. A somewhat similar process in Canada is termed tax rebate discounting.
Read more about Refund Anticipation Loan: United States, History, Controversy, State Crackdown On Refund Loans, Third-party Cross-collection of Bank Debt ("previous Debt"), Jan. 2011: IRS Will Not Be Providing “debt Indicator”
Famous quotes containing the words anticipation and/or loan:
“Before I had my first child, I never really looked forward in anticipation to the future. As I watched my son grow and learn, I began to imagine the world this generation of children would live in. I thought of the children they would have, and of their children. I felt connected to life both before my time and beyond it. Children are our link to future generations that we will never see.”
—Louise Hart (20th century)
“Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.”
—William Shakespeare (1564–1616)