The Tax-Man Giveth? Refunds, Savings, and Promoting Economic Security

Millions of Americans are waiting for their big tax refund. Most have already spent the money before it arrives. What if there were a way to turn that moment upside down? What if we could get millions of Americans to apply their refunds to building financial security by paying down debt, saving for an emergency, or building a nest egg? In 2013, Intuit, Inc. (the makers of TurboTax), the Center for Social Development at Washington University in St. Louis, and Duke University launched Refund to Savings, the largest intervention of its kind, to see if simple changes integrated into the tax filing process could help striving families set aside part of their refund for saving. The result? Almost $6 million saved by families earning less than $11,000 a year. Please join the Center for Social Development and New America’s Asset Building Program to discuss key findings of the Refund to Savings experiment and explore how these lessons can inform broader policy efforts to help families build healthy balance sheets.
 
Join the conversation online using #TaxTimeSavings and following @AssetsNAF.     

Agenda: Welcome:
Reid Cramer
Director, Asset Building Program, New America Foundation
 
Introduction:
Phillip Poirier
Vice President, Government, Consumer Division, Intuit, Inc.Presentation:
Dan Ariely
James B. Duke Professor of Psychology & Behavioral Economics, Duke University

 

Michal Grinstein-Weiss
Associate Professor, George Warren Brown School of Social Work
Associate Director, Center for Social Development, Washington University in St. Louis
 
Featured Speakers:
Ray Boshara
Senior Advisor and Assistant Vice President, Federal Reserve Board, St. Louis 
Director, Center for Household Financial Stability

Rourke O’Brien
Senior Policy Advisor, US Department of Treasury

Moderator:
Amy Brown
Program Officer, Ford Foundation

For questions, contact Kirsten Holtz at New America at (202) 735-2806 or holtz@newamerica.org.