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Liberty Tax Service tax refund advance review
Get an advance as late as February 28, 2022 — but be prepared for a 35.99% APR.
Bottom line: Liberty Tax may be a useful option if you expect a large advance and filed too late to qualify with another tax advance provider. For everyone else, you may pay less and be able to borrow more by using a different tax preparation company. Read our full review.
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Details
| Product name | Liberty Tax Service Easy Advance |
|---|---|
| Maximum advance amount | $500 |
| Minimum advance amount | $200 |
| APR | 35.99% |
| Turnaround | As soon as one business day — direct deposit may take longer |
| Tax preparation fee | Varies |
| Application deadline | January 14, 2023 |
| States serviced | Available at participating locations |
| Requirements | File taxes through Liberty Tax, meet additional underwriting criteria |
Pros
- High maximum advance amount of $6,250
- Available until January 14, 2023
- Upfront about potential financing cost
Cons
- High interest rate of 35.99%
- No online advance application
- Unclear eligibility requirements
How Liberty Tax’s tax Holiday Advance Loan works
Between December 15, 2022 and January 14, 2023 you can apply for a Holiday Advance Loan at a Liberty Tax branch when you file your taxes. Depending on your refund, you may be eligible for an advance between $500 to $6,250
Your advance may be available within 24 hours of IRS acceptance of your tax documents, and funds are disbursed to a DeepBlue Debit Account.
How much does it cost?
Unlike similar tax refund advance services like Intuit TurboTax, Liberty Tax charges a finance fee. The exact amount you pay will be based on your advance amount — but will result in an APR of 35.99%. Here’s how it breaks down:
$500 | $15.79 |
$800 | $25.24 |
$1,300 | $41.03 |
$2,500 | $78.90 |
$3,000 | $94.68 |
$4,750 | $149.91 |
$6,250 | $197.25 |
How to qualify
Liberty Tax only discloses one requirement: You must file your taxes through its service — and the only option is to meet with a representative at a Liberty Tax office. However, you will also need to meet some underwriting criteria set by Republic Bank & Trust Company, though it doesn’t state what those are.
Check to see if you’re eligible by filling out Liberty Tax’s online form, but there’s no guarantee that you’ll be approved once you visit an office.
Will applying affect my credit?
It may. Liberty Tax doesn’t state outright if applying will affect your credit, so be sure to ask before you fill out an application.
Liberty Tax reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | D- |
| BBB customer reviews | 1.34 out of 5 stars, based on 29 customer reviews |
| Trustpilot Score | 2.9 out of 5 stars, based on 2 customer reviews |
| Customer reviews verified as of | 16 December 2022 |
Liberty Tax doesn’t have many reviews listed on its Better Business Bureau (BBB) page — and the most recent one is from August 2022. But be aware of a large volume of past complaints before filing your taxes. You may also want to find recent reviews of your local branch to see what customers in your area thought of its service.
Compare tax refund advances like Liberty Tax Service
Check out how Liberty Tax Service holds up against other tax refund advances.
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How do I apply?
You must apply at a Liberty Tax location when you meet with a tax adviser to files your taxes. Follow these steps to book an in-person appointment for the Holiday Advance Loan application:
- Visit Liberty Tax's Holiday Advance Loan page.
- Select Book an appointment.
- Fill out your city or ZIP.
- Choose from a selection of locations nearest you.
- View the online calendar to choose an available time slot.
- Enter your full name, email and phone contact plus any special instructions for your file.
- Hit Make appointment.
Once you meet with a tax preparer, you'll learn how much you're eligible to borrow based on your tax refund amount less any advance loan fees.
What documents do I need to apply?
You won’t need much to see if you qualify online, but you’ll need more information when you file your taxes at a Liberty Tax branch, including:
- Date of birth
- Social Security number
- W-2s and other tax forms
- Last year’s tax information
If you aren’t interested in the high interest rate charged by LibertyTax — and the less-than-clear requirements — you can browse more tax refund loan options or look into our list of tax refund advance alternatives.
Frequently asked questions
Our answers to more questions you might have about Liberty Tax.
How do I get a refund with only my pay stub?
You'll need to file a full tax return with the IRS to qualify for an advance.
Do I need to file my taxes through Liberty Tax to qualify?
Yes. You must file your taxes through Liberty Tax and meet with a Liberty Tax adviser to apply for the Easy Advance.
Liberty Tax Service tax refund advances is not currently available on Finder
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Review by
Kellye Guinan
kellye.guinan@findercrew.comKellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University.
Expert review
Liberty Tax offers the largest advance amount of the providers we’ve reviewed, until as late as January 14, 2023. But it’s also the only one that has a finance charge equal to an interest rate of 35.99%. That’s where most personal loan providers cap out. This means if you have good or even fair credit, you might be able to qualify for a better deal by taking out a personal loan instead.
Liberty Tax’s process isn’t transparent, either. Information like concrete eligibility requirements and how you’ll receive your funds isn’t available on its website. And you’ll have to visit a store to file your taxes and apply — it doesn’t offer an online application.
If you’re interested in a lower interest rate, you may want to compare other refund advance services.