|
| |
|  Spearheaded
by the Office of Mayor Thomas Menino, the Boston Earned Income Tax Credit Coalition is a partnership of nonprofits, businesses, and community
organizations that promote the financial growth of working individuals and families.
The Coalition's campaign to advocate for low- and moderate-income workers began in 2001, when
free tax preparation services were provided to a few hundred residents. Now serving 8,000 taxpayers and facilitating refunds totalling $12.8 million to be used to pay bills, invest in higher education,
and save for homeownership, the Coalition operates 21 free tax sites throughout Boston and intends to offer additional financial resources in the near future.
The Campaign's namesake, the Earned Income Tax Credit, was created in 1975 to supplement low wages and spur the development of personal assets. It currently lifts more children out of poverty than any other social program.
Our services enable taxpayers to utilize the credit available to them, as well as avoid commercial fees and the high interest rates associated with Refund Anticipation Loans.
With the support of our partners, sponsors, and volunteers, the Coalition is increasing its capacity to serve over 10,000 taxpayers in 2007.
|
Mayor's Weekly Column - June 26, 2006
As the summer begins, it’s a great time to reflect on this past tax season and the terrific work done for our hardworking, low- and
moderate-income taxpayers. In 2006, the City of Boston’s Earned Income Tax Credit Campaign opened 22 free tax preparation sites that
served more than 8,000 individuals and returned nearly $13 million in combined state and federal refunds to Boston’s most vulnerable
workers. I want to take this time to thank everyone who made this tax season our most successful one yet.
The City of Boston is celebrating its fifth year of providing free tax preparation services and had 200 volunteers from State Street Bank,
Price Waterhouse Coopers, the Federal Reserve Bank of Boston, Dotwell, Boston Cares, Action for Boston Community Development, and other
community organizations. Many of them have been with us from the start, and I am proud of how they have helped their fellow Bostonians invest in the future.
In January, I alerted residents to the Earned Income Tax Credit, which can put up to $4,700 in federal and state refunds into a taxpayer’s pocket
to be used to pay bills or saved for higher education. Many of you were listening. Here are some impressive numbers that everyone can be proud of:
$10.4 million in federal tax refunds
$4.8 million in federal EITC
$2.4 million in Massachusetts State refunds
$632,405 in Massachusetts State EITC
$1.8 million in Child Tax Credits
$1.2 million saved by taxpayers using our free sites
The City of Boston and its many partners are also making great strides in offering free asset building services. In collaboration with the Federal
Reserve Bank and Dotwell, we provided a new credit repair and debt reduction program. Health Care for All and my Health Line assisted in signing up
35 taxpayers for Mass Health and filing 48 Food Stamp applications. Citizens Bank, Mount Washington Bank, Bank of America, and Boston Private Bank
continue to support the campaign, as well, by opening accounts for numerous taxpayers. By listening to the needs of the disability community, we
served over 800 disabled taxpayers around the city and look forward to expanding these services to all Bostonians who can benefit from them.
Last, but not least, the Campaign’s Ambassador Program continues to grow. Serving Boston’s largest immigrant communities, our Ambassadors worked
with taxpayers in seven languages: Spanish, Portuguese, Haitian Creole, Cape Verdean Creole, Somali, Vietnamese, and Cantonese. Our effort in Chinatown
has recently resulted in a commitment from the Boston Chinatown Neighborhood Center to run a tax site next year.
This is a remarkable campaign, and it will be even more remarkable in 2007 when we meet our goal of helping over 10,000 Boston residents get the
refunds they deserve. Again, thank you to all of our partners and volunteers. You play a very important role in providing hope and a great service to your city.
| |
|
