The study reported here used data collected from participants in a Volunteer Income Tax Assistance (VITA) Program to better understand how families anticipated using their Earned Income Tax Credit (EITC) refunds and their use of direct deposit. Data were collected over 3 years. The most common use for a refund by participants was paying bills or debts. One-third of participants planned to use their refund for savings or asset accumulation. Direct deposit participation was not significantly associated with using the EITC refund for savings or asset accumulation, with the exception of one asset, which was a house.

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