The FINANCIAL — Walmart is determined to save Americans money this tax season, and is doing so through its $3 and $6 check cashing1. The retailer has also worked with its partners to lower costs for their tax preparation services including free in-store federal Form 1040EZ filing, according to Walmart Stores.
Last year more than 60 million Americans didn’t have access to traditional banking services – such as credit cards and checking accounts2 – adding up to billions of dollars in fees paid by Americans who need it the most.
Over the next two weeks these underserved Americans will file their taxes and start cashing approximately $31 billion in tax refund checks3. Sadly, so many providers stand to capitalize on these individuals by charging between one and three percent of the total refund to cash the check. The average tax refund is $2,902 which means Americans could spend up to $90 just to receive their tax refund4.
Leading up to the biggest tax filing week of the year, January 16 – 22, Walmart has worked with Jackson Hewitt and H&R Block to double its in-store tax kiosks and lower the cost for tax preparation services. Jackson Hewitt will offer free federal Form 1040EZ filing5 at its Walmart kiosks throughout the tax season and H&R Block will offer a free federal Form 1040EZ until February 29. H&R Block will have 250 kiosks in Walmart stores, while Jackson Hewitt is adding approximately 800 kiosks bringing their Walmart footprint to 2,800.