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Full-Text Articles in Social Work
Using Tax Refunds To Promote Asset Building In Low-Income Households: Program And Policy Options, Sondra G. Beverly, Colleen Dailey
Using Tax Refunds To Promote Asset Building In Low-Income Households: Program And Policy Options, Sondra G. Beverly, Colleen Dailey
Center for Social Development Research
Using Tax Refunds to Promote Asset Building in Low-Income Households: Program and Policy Options
Linking Tax Refunds And Low-Cost Bank Accounts: A Social Development Strategy For Low-Income Families?, Sondra G. Beverly, Jennifer L. Romich, Jennifer Tescher
Linking Tax Refunds And Low-Cost Bank Accounts: A Social Development Strategy For Low-Income Families?, Sondra G. Beverly, Jennifer L. Romich, Jennifer Tescher
Center for Social Development Research
This article describes a pilot program encouraging low-income workers to have their tax refunds directly deposited into low-cost bank accounts. The program did not lead to substantial saving and asset accumulation in the short-term. However, surveys and interviews suggest that the program helped some participants spend money more slowly and more thoughtfully, introduced some to account ownership or direct deposit, and encouraged some to obtain other mainstream financial products. Thus, the program may have helped low-income families “get on track” for future saving and asset accumulation.