More About Malden Tax Partnership & Tax Location

Become Money Smart

Take control over your finances and money. Learn how to save, how to make your money work for you, why short-term loans may hurt more than they help, and much more!

Special Savings Account program for selected financial literacy cours participants. Check the Money Smart section of this website for more information.

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2006 Taxes:

$47,078 refunded in 2007

to local residents who e-filed with the Malden Tax Partnership

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Volunteers Needed (click Volunteer Match to read description):  

Tax Program Returns $47,078 to Local Residents! 

The Malden Tax Partnership helped local taxpayers get a total $47,078 from the IRS.

• Total of 45 e-filed returns accepted (and 3 paper returns filed)
• The average adjusted gross income: $10,967
• 21 residents qualified for the Earned Income Tax Credit (EITC)
• Total EITC refunded: $24,482
• Average EITC refund: $1,166
• 6 residents qualifed for the Child Tax Credit
• Total Child Tax Credit: $4,427
• Average Child Tax Credit: $738

The Malden Tax Partnership is comprised of: Cyber Café @ Malden Square, Tri-City Community action Program (Tri-CAP), Office of Mayor Richard C. Howard, YWCA Malden, Central Bank, and Bentley College Low-Income Taxpayer Clinic.

What is ”Instant Refund”?

Many tax preparation sites offer an “instant refund” or something similar. This is a Refund Anticipation Loan (RAL). It is not a refund. 

It is a loan and you pay interest on it. The loan is calculated based on the amount you should get for a refund. But now you have paid to get your taxes done and you have paid even more for the “refund anticipation.” 

The New “Twist” on Refund Anticipation Loans

The latest twist on RALs is the “money card” that you get instead of a check. Why would they do this? Because if you don’t use all the money right away, it’s still in their bank! With a check, you can put the money into a savings account and earn interest. With this money card, they get to earn interest on your money until you actually spend it! 

Be Smart! Get your taxes done for free and save your hard-earned $$.

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Tax preparation is conducted by IRS-sponsored and trained volunteers at the Cyber Cafe @ Malden Square,
Website designed and maintained by Murray Learning Associates