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- Buy it nowCharacteristics of Users of Refund Anticipation Loans and Refund Anticipation Ch
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Located in: Fairfield, Ohio, United States
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eBay item number:388471587020
Item specifics
- Condition
- ISBN-13
- 9781500949259
- Type
- Does not apply
- ISBN
- 9781500949259
About this product
Product Identifiers
Publisher
CreateSpace
ISBN-10
1500949256
ISBN-13
9781500949259
eBay Product ID (ePID)
204078338
Product Key Features
Book Title
Characteristics of Users of Refund Anticipation Loans and Refund Anticipation Checks
Number of Pages
54 Pages
Language
English
Publication Year
2014
Topic
Personal Finance / Money Management
Genre
Business & Economics
Format
Trade Paperback
Dimensions
Item Height
0.1 in
Item Weight
6.9 Oz
Item Length
11 in
Item Width
8.5 in
Additional Product Features
Intended Audience
Trade
Synopsis
Refund anticipation loans (RALs) are bank loans secured by the taxpayer's expected refund and Refund anticipation checks (RACs) are temporary bank accounts established on behalf of a taxpayer into which a direct deposit refund can be received. The goal of this project is to provide greater information on the characteristics of RAL/RAC users and why they choose these products.We find that among the most important characteristics influencing RAL/RAC use were lower income, young adulthood, single head-of-household filing status, receipt of the Earned Income Tax Credit (EITC), and use of a paid preparer. We also find that RALs and RACs are highly spatially concentrated and that living in the poorest communities is associated with dramatic increases in use of these products, even after controlling for a taxpayer's income and filing status. Also, for the first time, we found some unique differences in the use of RALs versus RACs according to such variables as military status. Finally, we find that individuals with any interest and dividend income used RALs and RACs to a much smaller degree than did those with otherwise similar characteristics.RALs and RACs are used by one in seven tax filers-and more than one in six filers who receive refunds. Taxpayers are able to receive their refunds more quickly than a mailed check by using RALs, often in one to three days. RACs are no quicker than other IRS direct deposit returns, but for those who lack a bank account, and/or would receive a paper check, they may speed up receipt of refund by up to six weeks. Both RALs and RACs enable payment of tax preparation fees out of the expected refund.To gain a better understanding of RAL/RACs, this report is broadly divided into two sets of research questions. The first examines who obtains them and who does not and what demographic, economic, and geographic factors are associated with the use of these products. Using individual-level IRS tax-filing data from tax year 2008, we provide descriptive breakdowns of many individual and geographical characteristics that are linked with use of RALs/RACs. We then run cross-sectional taxpayer-level multivariate models to explain what characteristics are associated with take-up of RALs/RACs, including both personal factors that are captured in individual level tax administration data as well as local factors compiled from several (non-IRS) administrative data sets. This quantitative analysis was conducted on IRS-provided data on millions of tax filers who received a refund in tax year 2008. With this data set, findings are statistically significant for the population of US tax filers.The second set of research questions examines why these products exist, using interviews with industry stakeholders. This research was qualitative in nature. What motivates taxpayers to use RALs and RACs? What role do tax preparers play? And what other (and lower-cost) credit options are available at tax time for low-income taxpayers? To address these questions, we conducted 18 interviews with 11 organizations: tax preparers, RAL/RAC providers, RAL/RAC tax form software developers, low-cost RAL lenders, and Volunteer Income Tax Assistance (VITA) program sites that provide free tax preparation services and partner with low-cost RAL lenders. We found, in summary, that most RAL and RAC recipients use these products to pay for pressing financial obligations, both expected and unexpected, and for their tax preparation. RAL/RAC users, particularly those claiming the EITC, are driven to paid preparers by the complexity of filing a tax return. Stakeholders from the RAL/RAC industry do not feel that consumers use these products because they fail to understand that they are loans or because they are not aware of the fees involved. Consumer advocates disagree, claiming that use is partly driven by aggressive, targeted marketing.
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Seller Feedback (1,054,155)
- r***r (2961)- Feedback left by buyer.Past 6 monthsVerified purchaseBook arrived today, 2 days before deadline given by the seller. Well-packaged & in good condition. Price was very competitive, & the book was accurately listed. Great communication. I appreciate the seller getting back to me when I was having trouble tracking the book's delivery progress. Apparently there were 2 different tracking numbers - one in Canada & the other in the U.S., since it was initially shipped from Canada. Thank you very much for your quick response & helpful information.Rethinking Investing: A Very Short Guide to Very Long-Term Investing by Charles (#396183075510)
- e***_ (14)- Feedback left by buyer.Past 6 monthsVerified purchaseSeller handles a massive inventory so I give them grace on the slow processing and shipping. They were very communicative and prompt with their response when I messaged in asking about it. Book was in good condition as described. Small ding on the page edges which wasn't mentioned, but that's fairly common even at your typical book store. Still a good value and I'd buy from them again.
- 0***i (5)- Feedback left by buyer.Past monthVerified purchaseThe first item arrived with some damage to the inside back cover, but the seller responded immediately, assuring me they’d provide a replacement, and even told me I could keep the original. They were upfront about a short delay, and gave a clear estimated ship date, and followed up right on time once it shipped. The replacement arrived in perfect condition and exactly as described. I really appreciated their transparency and professionalism. Would definitely buy from them again!
Seller Feedback (1,054,155)
- r***r (2961)- Feedback left by buyer.Past 6 monthsVerified purchaseBook arrived today, 2 days before deadline given by the seller. Well-packaged & in good condition. Price was very competitive, & the book was accurately listed. Great communication. I appreciate the seller getting back to me when I was having trouble tracking the book's delivery progress. Apparently there were 2 different tracking numbers - one in Canada & the other in the U.S., since it was initially shipped from Canada. Thank you very much for your quick response & helpful information.Rethinking Investing: A Very Short Guide to Very Long-Term Investing by Charles (#396183075510)
- e***_ (14)- Feedback left by buyer.Past 6 monthsVerified purchaseSeller handles a massive inventory so I give them grace on the slow processing and shipping. They were very communicative and prompt with their response when I messaged in asking about it. Book was in good condition as described. Small ding on the page edges which wasn't mentioned, but that's fairly common even at your typical book store. Still a good value and I'd buy from them again.
- 0***i (5)- Feedback left by buyer.Past monthVerified purchaseThe first item arrived with some damage to the inside back cover, but the seller responded immediately, assuring me they’d provide a replacement, and even told me I could keep the original. They were upfront about a short delay, and gave a clear estimated ship date, and followed up right on time once it shipped. The replacement arrived in perfect condition and exactly as described. I really appreciated their transparency and professionalism. Would definitely buy from them again!