Advertised by commercial tax-preparation centers for years, the loans make it possible for you to receive a refund as soon as the same day you file, versus two weeks or more through the IRS . During the 2006 tax-filing season, consumers paid $900 million in loan fees, according to a study this year by the Consumer Federation of America and the National Consumer Law Center, another non-profit consumer group. Because the loan generally is repaid within two weeks (when your refund is disbursed to the tax preparer), the effective annual interest rate works out to 36 percent, according to the company. Tax preparers also use e-file and direct deposit to speedily collect the refund on a refund-anticipation loan. read more