Almost 13 million people paid monstrous junk fees for refund loans last year, according to the IRS. All told, people paid nearly $1 billion in fees to get their own money back. These numbers blow Clark away. Interest rates on these loans are usually between 200 and 600 percent. And some don’t even let you know they are loans. These companies promise that people will get their money back in a few days. Consumers get so excited by the fever pitch that they buy in. But what they may not know is that if you file electronically the normal way, you may wait just one week more – and you won’t have to pay a dime. So, it’s really not worth it to get money seven days earlier. So, when you’re sitting there with a tax preparer and he or she says the company can arrange for you to receive the refund immediately, run! They act like they are doing you a favor. All you need to do is sign on the dotted line. But it’s no favor! Also, if you’re getting a big refund, it means you are having too much withheld from your paycheck. You’re giving an interest free loan to the government. All you need to do is go to your human resources department and adjust the amount you’re withholding.