By KIMBERLY JACOBS 

As the April 15 tax deadline looms for thousands of Bronxites, Councilman Ritchie Torres hopes residents think of the local economy should they receive their tax refund.

Torres’ office partnered with Urban Ubpound, a financial services group, for the last few weeks to prepare returns for hundreds of low-income Bronxites at no cost.

The partnership between Torres and Urban Upbound for this endeavor has already helped hundreds of Bronxites avoid the cost of getting their federal and state taxes completed, which can run from $50 to over $100 depending on how the return’s complexity. Torres hopes Bronxites recycle their refund back into the Bronx economy, along with the money they save from going to retail tax preparers.

“This program is an opportunity to put more money in people’s pockets, so not only are we reducing poverty we are connecting people to proven poverty-reduction programs like the earned income tax credit,” said Torres, speaking on April 3 at the epicenter of the Fordham Road Business Improvement District, home to over 300 stores. “We’re actually pumping more money into the local economy.”

For the past few weeks Bronxites have arrived by appointment to Torres’ office carrying proper documents, receipts, and paperwork as advised by the office.

“We have experts on tax preparation in our office. So, if you’re looking for expertise then feel free to come to our office and they can inform you about the full range of tax credits and tax rebates that you can potentially benefit from,” said Torres.

Along with tax preparation services, Urban Upbound has additional services that can be utilized to break the cycle of poverty. These services range from “one-on-one financial counseling, employment services, owning our credit union, and helping people holistically with a wrap-around suite of services” so that patrons can make the most of their large refund.

Tax refunds are typically considered a large windfall for residents, causing some to use it for large purchases or pay off debt. Urban Upbound’s services aim to help people manage to save their money while also helping them budget for paying off debt and everyday expenses.

“The biggest benefit that we can offer clients is to help them put together a budget and think about how they’re going to use this large windfall of sorts and manage it effectively,” said Bishop Mitchell Taylor, director of Urban Upbound. “That’s the basics of what we want to help people to structure.”

Bronx resident, Michelle Vasquez, admits to using her refund to pay off large amounts of debt.

“I used my refund to pay off credit card debt,” said Vasquez, a clerical worker at an optical office on Jerome Avenue. “It was a lesson learned.”

Edey Sama intends to invest his return to his business.

“Usually I don’t get a check, I pay,” said Sama. “But this year I used my refund to get more products for my business.”

For more information about free tax preparation and the programs offered by Urban Upbound call Councilman Ritchie Torres’ office at (718) 784-0877.