I'm in a bit of a pickle. I usually file my taxes and get my refund within a few weeks from the government. I planned to do the same this year, but I had a family emergency come up. Due to this emergency, I need my tax refund as soon as possible. I've heard that the rapid refunds or tax anticipation loans that tax preparers give come with outrageous interest rates, but I think that might be my only option in this case. I need the $2000 in the next few days. Can you think of any other options on how to get the money asap that would cost less than an anticipation loan?
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How can I get a rapid tax refund?
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Is there anyone you now personally (family, employer) who could lend you the money for the 10-14 days it would take to get your refund?Steve
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If there is no one who can lend you the money and you are most certainly going to pay it back when your tax refund arrives in a few weeks, I don't see any reason not to put it on a credit card. You won't be paying interest on it.
I don't like the idea of spending money that you don't have, but if your tax refund has been processed and approved, and it's just a matter of waiting for the direct deposit, that is what I would do.
This situation really is the point of having a healthy emergency fund that you only touch for emergencies like this one.
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