More About Malden Tax Partnership & Tax Location

2006 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 $$.

2007 Tax Returns:

$48,433 refunded
 

to local residents who e-filed with the Malden Tax Partnership
Plus more than 120 Economic Stimulus 2007 TaxesReturns filed

Click to see more details

Volunteers Needed (click Volunteer Match to read description):  

Become Money Smart

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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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