Senate Dems Ask GAO to Probe Refund-Related Financial Products

Senate Dems Ask GAO to Probe Refund-Related Financial Products

Three Democratic senators asked the Government Accountability Office April 18 to examine tax-specific financial products such as refund anticipation loans and checks, and their impact on earned income and additional child tax credit (ACTC) recipients.
 
Democratic Sens. Elizabeth Warren of Massachusetts, Al Franken of Minnesota, and Tammy Duckworth of Illinois, in a letter to U.S. Comptroller General Gene L. Dodaro, requested “a review of the tax-time financial products most commonly used by U.S. taxpayers,” including those products’ transparency and fees.