DEL PLAINES, IL, February 07, 2024 - "Many families depend on their federal income tax refunds," states Dave Papeck, senior district manager for online lender AmeriCash Loans. "They may intend to use those funds to pay holiday bills or address necessities.
"When the Internal Revenue Service is slow to process their returns and slower still to send their tax refunds," continues Dave, "it puts these families in a very stressful financial situation. AmeriCash Loans stands ready to help these families get the cash they need in a very timely manner."
High volume of returns taxes IRS's resources
The IRS began accepting and processing tax returns on January 29—about a week later than usual. The agency continues to struggle with the staffing shortages that delayed the processing of returns over the past several years. These personnel issues challenge the IRS's ability to process the more than 168 million individual tax returns that are expected to be filed in 2024.
Three in four Americans say they expect to receive a tax refund this year, according to a recent study by Intuit Credit Karma. The study also found that one in four taxpayers believe their refund will be higher than last year's refund.
The average refund check in 2023 was just under $2,300. The Intuit Credit Karma study found that for many families, the IRS refund is the largest check of the year.
Numerous factors can delay a refund
"As the Intuit Credit Karma report shows," says Dave, "the federal tax refund is critically important to many family budgets. And a number of factors can cause a refund to be delayed."
Three key factors can result in the delay of a federal tax refund.
• Taxpayers who file a return that includes the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) will encounter complications in processing their returns. The IRS is not permitted to issue refunds for these credits before mid-February. The IRS has stated that such refunds should be available by February 28, 2024.
• Returns that have been filed by mail (instead of electronically) slow down the IRS's processing and delay the refund. Mailed returns can take four to eight weeks for the IRS to process.
• Delays can occur when the IRS determines that a tax return needs further review.
Making it easy to get the money you need, when you need it
"There are millions of families that have pressing needs and can't wait weeks and weeks for the IRS to get around to processing their refund," Dave states. "Those families have a dependable resource for the cash they need in AmeriCash Loans."
AmeriCash Loans makes it easy for customers in Missouri, South Carolina and Wisconsin to get an installment loan up to $2,500. Customers can apply online, by phone at 888-907-4227, or by visiting one of the many conveniently located AmeriCash Loans stores.
The application process is quick and confidential, and there's no credit check. And AmeriCash Loans' innovative "Your Money, Your Choice" feature allows customers to have their cash deposited directly into their bank account the same day they apply.
A timely solution for families that can't afford to wait
"When an anticipated tax return is slow in coming," says Dave, "AmeriCash Loans can help folks get the cash they need without having to wait for weeks. We're there for American families during tax season and all year round."
About AmeriCash Loans
AmeriCash Loans, with online and in-store convenience for customers in Missouri, South Carolina
and Wisconsin, offers financial services including installment loans up to $2,500, with a quick application and approval process.
Contact Information
Barbara Wolf
AmeriCash Loans
Des Plaines, IL
United States
Voice: 888-907-4227
