Showing posts with label Government Shutdown Could Slow Tax Refunds. Show all posts
Showing posts with label Government Shutdown Could Slow Tax Refunds. Show all posts

Tuesday, March 29, 2011

Government Shutdown Could Slow Tax Refunds, Crimp Use Of Largest Federal Anti-Poverty Program

WASHINGTON -- A prolonged government shutdown could deliver a blow to many poor American families by limiting or delaying access to the federal government's largest anti-poverty program, the Earned Income Tax Credit.
Last year, 26 million families received about $59 billion from the EITC, according to the Treasury Department. While a broad majority of recipients may be unaffected by a possible government shutdown, which at the earliest could come little over a week from this year's April 18 deadline for individual tax returns, the sheer scope of EITC recipients means a vast number of households can still be hurt by any problems with poverty-relief payments. Such pain could throw a wrench into federal efforts to fight poverty during the worst economic downturn since the Great Depression.