Journal Article

Earned Income Tax Credit: Bank One program helps low-income taxpayers

Abstract: Many low-income working families are unaware that they can receive up to $4,140 in tax credits under the IRS' Earned Income Tax Credit program. Others file with commercial tax preparation services that charge not only a fee for the tax preparation and electronic filing but also high interest on refund anticipation loans. Bank One stepped up with a volunteer program to assist low-income people in preparing their tax returns and claiming the EITC. The bank also helped the filers open bank accounts so they could get their refunds by direct deposit.

Keywords: Income tax; Tax credits;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: e-Perspectives

Publication Date: 2002

Issue: 4

Order Number: 1