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Federal Reserve Bank of Dallas
e-Perspectives
Earned Income Tax Credit: Bank One program helps low-income taxpayers
Community Affairs Office
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.


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Community Affairs Office, "Earned Income Tax Credit: Bank One program helps low-income taxpayers" , Federal Reserve Bank of Dallas, e-Perspectives, issue 4, 2002.
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Keywords: Income tax ; Tax credits
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Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

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