Keeping What They've Earned: Tax Credits for Working Families in California (March 2008)

Release Date: March 26, 2008
File Size: 111 KB
File Format: pdf
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"Keeping What They've Earned: Tax Credits for Working Families in California," from March 2008, reports on how low-income families lose billions each year in Earned Income Tax Credit (EITC) benefits to high-interest, short-term loans, tax preparation fees, and other financial products issued by commercial tax preparers. The report warns low-income families to avoid Refund Anticipation Loans whose high interest rates cause families to forfeit a significant percentage of their refunds in order to receive their money a little earlier. The report provides action items that lifts children out of poverty by helping their working families keep more of the money they've earned.

Additional resources from the report:

Chart: Total Dollars Lost to Tax Preparation and Purchase of RALs in California cities (.pdf)

Chart: California Counties with the Highest Number of Total Returns Filed (.pdf)

Chart: California Counties with Highest Percentage of RAL Purchases (.pdf)