News

Recently, the U.S. Department of the Treasury announced that it will launch a new pilot program to help capitalize on tax refund season as an opportunity to provide unbanked and underbanked Americans with access to safe, low-cost financial accounts. The immediate goal is to have low-and moderate income tax payers receive their refunds to a debit card rather than by a traditional paper check, but the program will also seek to offer accounts that can be used year round. (Read full press release)

Similarly, 11,000 VITA tax sites, which are sponsored by the Internal Revenue Service, will now be able to offer clients the MoneyWise Prepaid MasterCard as a result of a new relationship between Western Union and CCHSmall Firm Services (SFS), a leading provider of software for tax and accounting professionals. (Read full press release).