What are the consequences of defaulting on a refund anticipation loan?

If you get a refund anticipation loan from your tax preparer, you will be paying the tax preparation company high interest and fees in order to gain access to your money quickly. If you are thinking about getting this type of loan, you may be wondering what would happen if you went into default on it. In reality, however, there is no way that you could go into default with this type of loan. With a refund anticipation loan, the government will automatically deposit the amount of money from your tax return into the tax preparation company's account. 


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