There are several ways to get a fast tax refund, and some guidelines you can follow to get money back quickly without losing some in the process. The quickest way to get a fast tax refund is to have a company like H &R Block prepare your return and to request a refund anticipation loan. You will pay for the convenience of getting your tax return back in a few days, and these fees can be fairly exorbitant. Other methods exist that can get you a fast tax refund without paying high fees.

First, the quickest way to get a fast tax refund without high additional charges is to file well before the deadline, through e-filing, and to use direct deposit. You may have to pay a small charge to e-file (electronically file your return), but these won’t be anywhere close to the costs of a refund anticipation loan. If you use tax preparation software, some companies allow you to e-file without charge, though you will need to pay for the software. When you request direct deposit to your bank account, it’s possible to get a refund in a couple of weeks, especially if you file well before the deadline.

Early filing is important when you want a fast tax refund. As a tax deadline approaches, tax agencies are bombarded with many returns. When you send in your taxes a month or so before the deadline, you won’t have this type of competition for attention to your return. If you wait to file on the last day, expect to wait longer for your tax return. You may still be able to speed up this process if you file electronically and if you use direct deposit.

As you look for e-file sites online, be sure you’re not walking into a refund anticipation loan site instead. If the company promises you a fast tax refund that will show up within a couple of days, this is not simply getting your tax return. Instead the company is loaning you money that you will repay out of your taxes. The tax return will be sent to the company instead of to you.

Most tax preparers advise against refund anticipation loans unless you are in dire need of money. The interest paid on these amounts is some of the highest interest charged for loans. The IRS has taken numerous steps to try to curb these lending practices, though these loans are still legal.