Tax season officially opens on January 29, 2018, and that means that the rush to benefit from a tax refund has already started. With that in mind, some taxpayers use a tax Refund Anticipation Loan (RAL) to bridge the gap between the first of the year and mid-to-late February. You have to repay the entire amount of the loan even if you receive a smaller tax refund than you anticipated and even if you don't receive any tax refund at all. The reality is that most of the big dollar tax refund checks are tied to refundable tax credits, like the EITC and the ACTC. If you've been rejected for a refund loan, try reaching out to the company to find out why.

Source: Forbes January 22, 2018 00:27 UTC