The Tax Policy Center hosts a lunchtime program today on The Credit Needs of Low-Income Families at Tax Time (webcast here):

Nearly 20 million tax filers—many of whom count themselves among the working poor—are expected to use a refund anticipation loan (RAL) or refund anticipation check (RAC) this tax season, racking up more than $1.5 billion in short-term credit fees. Some will turn to these devices because they need money fast to pay bills, especially just after the holidays; others need part of the expected tax refund to pay for tax preparation.

What does new research from the Urban Institute say about who needs credit at tax time and why? What role should public policy play in shaping tax-time credit products? Why and how does the tax-preparation industry provide RACs and RALs? And can new financial products provide low-income families better access to credit before Tax Day?

Panelists:
•    Melissa Koide (Center for Financial Services Innovation)
•    Brett Theodos (Urban Institute)
•    Robert Weinberger (Aspen Institute Initiative on Financial Security)
•    Chi Chi Wu (National Consumer Law Center)