Jackson Hewitt loans: Tax-refund loans

Woman standing in her kitchen, making breakfast and looking at her phoneImage: Woman standing in her kitchen, making breakfast and looking at her phone

In a Nutshell

Jackson Hewitt offers tax refund anticipation loans around the beginning of tax season. But a couple warnings: To qualify for the tax refund loans, you’ll have do your taxes with Jackson Hewitt — and those loans may come with high interest rates.

Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when posted.
Advertiser Disclosure

We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.

Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.

Pros Cons
Certain tax-advance loans come interest free Larger tax-advance loans have high interest rates
Tax-advance loans range from $200 to $6,000 Jackson Hewitt must do your taxes in order to be eligible for tax refund loan options

Jackson Hewitt’s loan options

Jackson Hewitt is a tax advisory firm that offers tax refund anticipation loans around the beginning of tax season. Here’s a look at the options and how they work.

If it’s tax time and you’re ready to file

  • No Fee Refund Advance Loan — Once you’ve filed your tax return with Jackson Hewitt, you could qualify to apply for a No Fee Refund Advance Loan. With this loan, available amounts are $500, $750, $1,000, $1,250, $2,500 and $4,000. And just like the name says, there are no fees or costs for this loan, though they’re not available for the entire tax season. (For the 2020 tax year, No Fee Refund Advance Loans is available from Jan. 2, 2021, through Feb. 21, 2021.) To pay back the loan, the borrowed amount is deducted directly from your tax refund.
  • Go Big Refund Advance Loan — If you want a larger loan after you file your tax return with Jackson Hewitt, you could qualify to apply for a Go Big Refund Advance Loan. Available amounts with this loan start at $1,000 ($2,500 for new clients) and reach up to $6,000. The window to apply for a Go Big Refund Advance Loan is even smaller, closing on Jan. 31, 2021. And just like the No Fee loan option, this loan gets paid back directly from your tax refund. But the Go Big option does come with a hefty interest rate (it was ~29.2% for the 2019 tax year).

If it’s not quite tax time

  • Early Refund Advance Loan — If you qualify, you could also apply for an Early Refund Advance Loan before you file your tax return (for the 2020 tax year, the window to apply is from Dec. 14, 2020, to Jan. 17, 2021). A catch to the Early Refund option is that it works like an advance on another Jackson Hewitt tax refund loan, like the No Fee Refund Advance Loan or Go Big Refund Advance Loan. If approved, you can access an initial $200 to $700. 

Other details about Jackson Hewitt loans

The tax refund advance loans are funded by MetaBank. Here are some other things to keep in mind.

  • Limited availability of bigger loans: Jackson Hewitt’s tax advance loans may not be available at every Jackson Hewitt office. And the Big Refund Advance Loan is not available at all if you live in Connecticut.
  • Hiring Jackson Hewitt to do your taxes: If you want a tax refund advance loan from Jackson Hewitt, you’ll need to do your taxes with the firm. This can be a drawback if you’re already comfortable with another tax preparer, want to do your taxes yourself, or may not want to pay tax preparation fees.

Who is a Jackson Hewitt personal loan good for?

If you think you’ll get a tax refund and want a cash advance on it, a Jackson Hewitt loan may be worth considering. But this lender may not be ideal if you’re looking to borrow a larger loan amount, because its Go Big Refund Advance Loans can come with high interest rates.

And since hiring Jackson Hewitt to do your taxes is a requirement for the tax refund advance loans, you may want to look elsewhere if you’d rather stick with your current tax preparation method.

How to apply with Jackson Hewitt

To apply for any Jackson Hewitt loan, you’ll need to visit a local Jackson Hewitt office.

To apply for the Early Refund Advance Loan, you’ll need to provide your most recent pay stub or evidence of income.

For the No Fee Refund Advance Loan or Go Big Refund Advance Loan, you’ll need to file your taxes with a W2 form or other income verification, and then fill out an application in person.

Not sure if a Jackson Hewitt loan is right for you? Consider these alternatives.

  • Mariner Finance personal loan: If you’re looking to borrow more than $6,000, a Mariner Finance personal loan may be a good fit.
  • Marcus personal loans: If you have strong credit, Marcus personal loans by Goldman Sachs can have competitive interest rates on a wider range of loan amounts.

About the author: Anna Baluch is a freelance personal finance writer from Cleveland, Ohio. You can find her work on sites like The Balance, Freedom Debt Relief, LendingTree and RateGenius. Anna has an MBA… Read more.