When you file your taxes this year I hope you'll find a refund waiting for you at the end of the process. If you are expecting one, don't fall prey to speeding up the process by agreeing to a refund anticipation loan. These loans are one of the biggest ripoffs around.

First of all, if you expect a refund big enough to want to take this loan, you've made an interest free loan to the government for the past 12 months, not good planning. Why compound your mistake by paying interest rates that, depending on the size of your refund, are 178% to 700% annualized?

By filing electronically you can get your refund within 8 to 15 days instead of the 5 to 6 weeks you wait if you mail your return to the IRS.

And refund-anticipation loans can take as long as 48 hours to be processed.

These loans at these interest rates should be outlawed in my opinion. But they're not. So take the law into your own hands, file electronically and wait.