Refund Anticipation Loan Quiz

3. How much money was estimated to be spent by the working poor to get access to the Earned Income Tax Credit through refund anticipation loans?

a. INCORRECT

It is estimated that the working poor spent $2.1 billion, including tax preparation fees, refund anticipation loan fees, and check cashing fees in order to gain access to the Earned Income Tax Credit, which most of the working poor qualify for without having to use tax preparers services.