The two pieces depend on each other. A refund advance is money against an expected refund, which means the refund has to be calculated correctly first, and that comes from a return prepared the right way. Getting the preparation right is therefore not a separate step from the advance; it is the foundation the advance sits on.

Accurate Preparation Comes First

TaxShield prepares and files returns for individuals, families, and small businesses, and the work starts with getting the numbers right. That means reporting income from W-2s and 1099s, claiming the credits and deductions a filer actually qualifies for, and filing a return that will hold up with the IRS. For many Memphis families, that includes credits like the Earned Income Tax Credit and the Additional Child Tax Credit, which can make up a large share of the refund and are easy to get wrong without someone who prepares these returns all season.

An accurate return protects the filer twice over. It claims the full refund they are entitled to, and it sizes the expected refund correctly that any advance is based on. A rushed or incorrect return risks both a smaller refund and problems down the line, which is why the preparation is where a filer should want the care spent. TaxShield brings over a decade of tax experience to that part of the job.

Why the Wait Is Long, and Where an Advance Helps

Even a perfectly filed return does not pay out immediately, and for the households that most need the money, the wait is built into the law. Under the federal PATH Act, the IRS cannot issue a refund on a return claiming the Earned Income Tax Credit or the Additional Child Tax Credit before the middle of February, regardless of how early the return is filed. On top of that statutory hold, normal IRS processing adds time, so a family counting on that refund can be waiting well into the season.

A refund advance is designed to bridge that gap. Rather than waiting for the IRS, a filer can access part of the expected refund sooner and repay it from the refund when it arrives. It is not extra money, and it is not a traditional loan; it is early access to the filer's own refund, which is why understanding the terms matters more than the headline.

The Two Refund Advance Products

TaxShield offers two refund advances that work differently, and knowing which is which keeps expectations straight. The Holiday Advance is up to $500, available before the IRS even opens the filing season, with turnaround as fast as about thirty minutes, and it is stated as no charge. It is the option for a filer who needs a small amount early. The Shield Advance is larger, from $500 up to $7,500, and it becomes available after the IRS accepts the return, usually within about 24 to 48 hours. It is disbursed through a bank partner, Santa Barbara Tax Products Group, which means it carries bank fees that TaxShield discloses upfront before a filer accepts.

That fee distinction is the one to hold onto. The Holiday Advance is stated as no charge, while the Shield Advance is not free, because the bank partner's fees apply and are shown to the filer in advance. Approval for either is based on qualifying for a refund and having no outstanding IRS debt, not on a traditional consumer-loan credit decision, and the advance is repaid out of the refund when the IRS sends it. A promotion such as a booking discount or a referral bonus may be running at a given time, which is worth confirming when you call rather than assuming it applies.

Qualifying and What to Bring

Because the advance rides on the return, the two are handled in the same visit. Approval depends on whether the filer qualifies for a refund and has no outstanding IRS debt, so the first step is simply preparing the return and seeing the expected refund. To make that visit efficient, a filer should generally bring a photo ID, Social Security numbers or ITINs for everyone on the return, income documents such as W-2s and 1099s, last year's return if available, and records for dependents, deductions, or business expenses. The exact list depends on the situation, so a quick call ahead confirms it.

Why Memphis Filers Choose TaxShield

The reason to keep the filing and the advance together is accountability and clarity. TaxShield prepares the return, explains the expected refund, and lays out the terms of any advance, including the Shield Advance fees, before a filer commits, all from a local Memphis office with over a decade of experience and upfront pricing. For a filer weighing TaxShield, the draw is one team that files the return correctly and sets up the advance honestly, with the costs and timing on the table before anyone signs.

Serving Memphis and Shelby County

TaxShield handles tax preparation and refund advance for filers across Memphis and the surrounding Shelby County area from its office at 4226 Winchester Rd. Whether the goal is an accurate return, a small advance before the season opens, or a larger advance once the IRS accepts the return, a filer can bring their documents in and handle both in one place. To get started with tax preparation and refund advance in Memphis, call TaxShield at (901) 881-9603 and have one local team prepare the return and explain the advance before you decide.