Increasing savings at tax time

Increasing savings at tax time

Motivational prompts to save tax refunds and suggested savings amounts for the tax refund can increase saving among low- and moderate-income households, finds a new experimental study from the Brown School at Washington University in St. Louis.
Study: Tax-return delay could hurt low-income families

Study: Tax-return delay could hurt low-income families

Millions of low- and moderate-income Americans who claim certain tax credits will have to wait weeks longer than usual this year for their federal income tax refunds because of a new law aimed at reducing fraud. The delay could prove costly for countless families, finds a new study from the Brown School and the Tax Policy Center.