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EITC and Financial Exclusion

EITC and Financial Exclusion.Alan Berube, Anne Kim, Benjamin Forman, and Megan Burns show how, on average, each low income worker receiving the EITC spends about $200 on commercial tax preparation and "rapid refund" loans. They estimate that nearly $2 billion in EITC refunds nationwide were diverted to pay for these services in 1999. "The Price of Paying Taxes: How Tax Preparation and Refund Loan Fees Erode the Benefits of the EITC" is published by the Alan Berube, Anne Kim, Benjamin Forman, and Megan Burns show how, on average, each low income worker receiving the EITC spends about $200 on commercial tax preparation and "rapid refund" loans. They estimate that nearly $2 billion in EITC refunds nationwide were diverted to pay for these services in 1999. "The Price of Paying Taxes: How Tax Preparation and Refund Loan Fees Erode the Benefits of the EITC"is published by the Progressive Policy Institute and the Brookings Institute.

 

By Progressive Policy Institute and the Brookings Institute , US .

Welfare and Social Security Policy Resource.