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)
“Slight was the thing I bought,
Small was the debt I thought,
Poor was the loan at best—
God! but the interest!”
—Paul Laurence Dunbar (1872–1906)