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Effect on Low-Income Taxpayers and EITC Recipients

Effect on Low-Income Taxpayers and EITC Recipients

It would equate to about 1.2 million consumers, or about 25% of RAL borrowers if we assume that Jackson Hewitt, Liberty Tax, and about half of independent preparers charge add-on fees. Using Jackson Hewitt’s limit of $40—a assumption that is conservative the expansion of multiple fees—these add-on costs increased by about $48 million the total amount compensated for RALs this year. Continue reading Effect on Low-Income Taxpayers and EITC Recipients