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Free Tax Prep: Multiple Programs

Ridgewood Savings Bank (Honorable Mention) - Ridgewood, New York

2020 Community Commitment Awards Submission

  • Entry Category: Community & Economic Development
  • Asset Size: Medium

Many low-to-moderate income (LMI) households depend on their tax refunds to catch up on bills or make large purchases. However, many families need help preparing their tax returns. Therefore, Ridgewood Savings Bank sponsors “Free Tax Preparation Days” in LMI communities in which the Bank operates branches. The Bank works with community partners Ariva and IMPAACT, two not-for-profit professional tax preparation/financial counseling organizations serving low-wealth populations, to provide tax preparation services. Ridgewood's Free Tax Preparation Days service more than 200 individuals a year. In many cases, filers obtain a refund, thus increasing spending power in the community.