Refund to Savings (R2S)

The Refund to Savings (R2S) randomized experiment, begun in 2012, measures the effect of behavioral economics techniques on savings at tax time by building a saving-promotion scheme into the TurboTax Free File Online product that is available free to low- and moderate-income households. 

The tax refund is the largest check most households receive all year. Because the refund is separate from normal household income, it may present a golden moment to build savings. This research draws on lessons from behavioral economics to design defaults and frameworks that could encourage individuals to save more of their incomes. See R2S_Concept_Paper and R2S_FAQs.

Beginning in 2018, researchers expanded the scope of R2S experiments beyond tax time savings to explore behavioral approaches to help households better manage their debt at tax time.

R2S launched as a partnership between Washington University, Duke University, and Intuit Inc., the makers of TurboTax.

Funding Partners: Ford Foundation, Annie E. Casey Foundation, Intuit, Inc., The Intuit Financial Freedom Foundation, The Smith Richardson Foundation, JPMorgan Chase Foundation, U.S. Department of the Treasury

---