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What is an H&R Block anticipation loan?

A:

Quick Answer

An H&R Block anticipation loan is a short-term loan issued by the tax preparation company that is intended to be paid back upon receipt of a tax refund. This loan is only intended to be used to cover tax preparation fees from H&R Block.

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Full Answer

The amount of the tax anticipation loan is automatically deducted from the refund check by H&R Block before it is issued to the taxpayer it belongs to. H&R Block charges a fee for each refund anticipation loan, but the amount varies depending on whether the loan in question is being deducted from a federal or state tax refund.

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