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The Big Skim

How Tax Refund Anticipation Loans Drain Over a Billion Dollars from Workers' Tax Refunds

By Chi Chi Wu

Targeted at the working poor, refund anticipation loans have extracted billions of dollars from hard-earned tax returns in recent years. Legislation, litigation, alternative loan products, action by the Internal Revenue Service, and well-informed advocates and public are all necessary to prevent these loan products from undermining the effectiveness of the earned income tax credit and leaving low-income taxpayers with less money in their pockets.

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