Be careful with those tax loans.

[moneysense]

It is my understanding that you can get a loan on your taxes before you actually have them filled out and sent in by your tax preparer, as long as you have an idea of just about what is going to be due you.

But be very careful when doing this because if you borrow more than you will actually be getting back after the taxes are done, you will be owing that money and it will come out of your refund.

Also, as to your refund, if you owe back child support, it can be taken out of your refund. So can things like what you owe for medications to the VA.

If you have been paying on a back tax that you owed from last year, that will be taken out of your refund also. So be very careful when getting that tax loan.