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:
“Conscience is, in most men, an anticipation of the opinions of others.”
—Sir Henry Taylor (1800–1886)
“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)