Tax preparers are reporting a brisk business even before W2s arrive.

JIm Dunlap from Jackson Hewitt explains

" Right they want a line of credit now so they can pay some bills or do whatever they have to do."

Dunlap says Jackson Hewitt is anticipating more and more people coming in trying to get a line of credit based upon the money they expect to get later in the year through a tax refund.
Dunlap says he and others can get the ball rolling without W-Twos with the help of a paycheck stub from 2008. With that information, he says Jackson Hewitt can contact a bank and see if a line of credit is possible.

" We are seeing 4, 5, 6, $7000 refunds that are estimated right now and that's money that people need right now."

That money will be paid back to Jackson Hewitt once the customer receives the tax return and fees will also be assessed.
But as April 15th looms Dunlap says this year he expects tax preparation to get more complicated with things like Bankruptcy, foreclosures and insolvency. He expects many to take advantage of the Mortgage Forgiveness Debt Relief Act of 2007.

"Which if they were foreclosed upon and they received a 1099 form from the debtor then the IRS is going to forgive the money coming to them They will have to report it on their tax returns but there is a provision in there for forgiveness of the debt and they will not be paying taxes on it."