Identification

• A rapid refund is actually a short-term loan based on your anticipated refund. The tax preparer files your taxes and lends you the money within a few days, and then your federal tax refund goes to the preparer.
  
  

Fees

• Any rapid refund loan will have either an interest rate or possibly a flat fee.
  
  

Time Frame

• Most often, you can receive your money from a rapid refund that day or the next. This is shorter than the typical two-week wait when you file electronically.
  
  

Problems

• A rapid refunds helps people in need of their return in a hurry, but it might cause problems if there's any error on your tax return. You also get more of your return by waiting because the refund loan takes fees out of your return.
  
  

Getting a Rapid Refund

• Many local and online services that prepare taxes offer a rapid refund.