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Earned Income Tax Credit Awareness Day
The OCC, in an effort to make more eligible working families aware of the benefits of the Earned Income Tax Credit (EITC), promoted the 14th annual EITC Awareness Day on January 31. The OCC encouraged national banks and federal savings associations to work in their communities to educate the public about, and to promote the EITC and free tax assistance programs. The OCC also encouraged banks and savings associations to:
- promote and provide low-cost bank products and services that enable tax refund recipients to deposit their income tax refunds directly into their accounts.
- encourage the use of tax refunds in bank-sponsored savings match programs, also known as Individual Development Accounts.
- sponsor IRS Volunteer Income Tax Assistance programs in branches and support employees who volunteer as tax preparers in low- and moderate-income communities.