Credit Karma and TurboTax — both part of parent company Intuit — offer a variety of tools and features that can help you manage your taxes and overall financial picture.
Both can also help you access money quickly during tax season. We’ll review your options and how they work.
- How does TurboTax work with Credit Karma?
- What are some fast funding options?
- Can I file taxes now and pay later?
- More tax tools
How does TurboTax work with Credit Karma?
Simplified tax filing
If you’re filing your taxes with TurboTax, the process is easier as a Credit Karma member. That’s because information from your Credit Karma account can be used to prefill your tax documents.
Straightforward account creation
Credit Karma members will find a straightforward authentication process that links their existing account to TurboTax. By sharing its data with TurboTax, Credit Karma gives members the benefit of creating an account quickly and easily.
Special pricing and offers
Credit Karma members who file their taxes using TurboTax through the Credit Karma app have access to special offers and pricing for tax filing.
Finding TurboTax in the Credit Karma app
To begin, open the Credit Karma app and select “Tax” from the top navigation bar. When you sign into your TurboTax account through Credit Karma, you never have to leave the Credit Karma app, keeping your entire experience in one easy-to-manage place.
What are some fast funding options?
Refund Advance loan through TurboTax
If you’re already an e-filer with TurboTax for your federal return, you could be eligible for one of two short-term, no-cost TurboTax Refund Advance loans.
You’ll have to apply, as with any other loan, but if approved, you’ll receive up to $4,000 of your anticipated refund in your Credit Karma Money™ Spend account — which is free to open if you don’t already have one. TurboTax Expert Full Service customers with a Credit Karma Money™ Spend account can get their full refund amount, up to $10,000.
Here’s how the two options compare:
Standard Refund Advance
- Who is eligible? Any e-filer with TurboTax
- Loan amount: Up to $4,000
Enhanced Refund Advance
- Who is eligible? Any e-filer with TurboTax Expert Full Service
- Loan amount: Up to $10,000
When you file electronically, it’ll typically take 24 to 48 hours for the IRS to accept your return — and most filers receive their Refund Advance within 15 minutes of IRS acceptance. Note that the IRS starts accepting returns in late January.
You’ll be notified when your funds are available and can use Credit Karma’s mobile app to access your funds right away. You’ll also be sent a physical Credit Karma Visa® Debit Card.
Note that Refund Advance, which is issued by WebBank, may not be available for all tax filers everywhere. You’ll want to check out the full terms and conditions before you apply.
Image: txed_ckturbotax-2-wipEarly refund access
When you file your federal tax return, you have two ways to access your federal refund up to five days early.
Get early access with a Credit Karma Money™ Spend account, which is free to open.
- What is it? $0 fee, delivered up to five days early — no matter who prepares your taxes.
- Who is eligible? Members who have a Credit Karma Money™ Spend account
Note that if you file with TurboTax and choose to pay your tax preparation fee using your federal tax refund or take advantage of TurboTax Refund Advance, you’re ineligible for early refund access through Credit Karma.
Get early access with funds deposited into a bank account of your choice
- What is it? For a fee, delivered up to five days early.
- Who is eligible? Anyone who files with TurboTax
Be aware that terms, fees and delivery dates can vary, so it’s a good idea to check with your financial institution for specific details. If you take a Refund Advance loan, you won’t be eligible to receive your refund up to five days early.
Can I file taxes now and pay later?
Need to pay the IRS? TurboTax’s File Now, Pay Later is a loan that covers your federal tax balance directly. Repay in three or six monthly payments (interest applies).
You’ll pay no set-up fees or penalties, and your credit isn’t affected when you apply.
More tax tools
Here are some other Credit Karma tools that can help you keep track of your filing status during tax season or help work on your finances.
Tax Refund Estimator
Credit Karma’s Tax Refund Estimator can help you get a quick idea of your potential federal tax refund based on the information you share about your income, deductions and credits.
To simplify the calculation, the estimator uses your shared Credit Karma or TurboTax data and applies a few built-in rules. It treats all income as being taxed the same way, applies the standard deduction, and includes any credits you may be eligible for — like the Earned Income Tax Credit or Child Tax Credit.
Note that the estimate won’t cover every type of income or unique tax situation. If your finances are more complex, it may be helpful to talk with a tax professional to get a more precise picture of your refund.
Refund Tracker
If you created a new Credit Karma account or linked an existing one while filing your taxes through TurboTax — and you consented to data sharing — you can monitor the status of both your federal and state tax refunds on Credit Karma.
The Refund Tracker appears soon after you file your federal tax return with TurboTax. When you want to take a look, you can log in to your Credit Karma account.
The IRS issues most refunds within 21 days of accepting your return, though it’s possible your tax return may require additional review and take longer to process.
If you’d prefer to get your information directly from the IRS, the agency maintains a refund tracker called “Where’s My Refund.” Although you’ll need some basic information and a bit of patience, you can start checking your refund’s status as early as 24 hours after the IRS accepts your e-filed return.
Audit support
Filing with TurboTax includes access to the Audit Support Center for year-round help and prep tips. The Audit Support Guarantee also offers free one-on-one guidance from a tax professional if you face an audit.