Monday, May 07, 2007
Poor Hit Hard By Refund Anticipation Loans
According to an Associated Press report, people who were hit hardest by refund anticipation loans were low income households. A North Carolina investigation found that people in the state spend about $44 million per year on refund anticipation loans with interest rates topping 800%. The study claims that nearly 86% of the refund loans issued in 2004 went to low-income borrowers. About 500,000 taxpayers in North Carolina get tax refund loans every year, with average costs ranging from $78.30 to $174.95. For more details on the study visit Forbes.com.
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About Me
- Roni Deutch
- Roni Lynn Deutch is better known as The Tax Lady for a reason: she has dedicated the last two decades to resolving IRS tax problems for Americans, nationwide. Consequently, she has become a well-known media personality and one of the most popular go-to tax experts in the country. In 2009 Roni added another line to her already impressive resume: Author. Her first book, The Tax Lady’s Guide to Beating the IRS and Saving Big Bucks on Your Taxes, hit the shelves just in time for tax season. The book is an approachable guide to putting the reader in control of his or her taxes. It provides key advice in creating a tax plan, preparing one’s taxes, and considering the tax consequences of many important life choices, such as education, retirement, starting your own business, or investments. Check the book out at Taxladybook.com
