Tax filers in African-American communities 3.5 times more likely to use high-cost loans to get refunds

These high-cost, short-term loans secured by a taxpayer’s projected tax refund are arranged by for-profit tax preparers in partnership with large banks as a quick alternative to receiving a refund directly from the IRS through a paper check or direct deposit to a bank or credit union account.

Refund anticipation loans continue to disproportionately impact communities of color

Subscribe to EITC