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:
“There is no terror in a bang, only in the anticipation of it.”
—Alfred Hitchcock (1899–1980)
“... the ... thing I am proudest of in my whole business life is that I do not take, that I never took in all my life, and never, never! will take, one single penny more than 6% on any loan or any contract.”
—Hetty Green (1834–1916)