Press Release Details

Double Check Challenge Helps Taxpayers Catch Costly Errors in Previous Tax Returns

KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 21, 2007--Each year, millions of Americans assume they've prepared their tax returns correctly. But with frequent tax code changes and increasingly complex forms to complete, mistakes are common and can be costly.

In fact, more than $1 billion in missed deductions and credits is left on the table by millions of Americans according to the IRS. That equates to nearly $400 per taxpayer.

With H&R Block's Double Check Challenge, an H&R Block (NYSE: HRB) tax professional reviews prior returns, regardless of who prepared them, to look for overlooked credits or deductions, confirm the correct filing status was claimed and the tax bill was calculated properly. Since the IRS allows taxpayers to amend returns originally filed in any of the past three years, it's worth reviewing recent returns to make sure common errors weren't made.

H&R Block will review prior returns for free, but if an error is found and the taxpayer chooses to file an amended return, he or she is responsible for all re-filing fees. Clients who file amended returns have averaged as much as $1,500 in additional refunds when H&R Block does find missed deductions.(1)

"Every year H&R Block helps hundreds of thousands of Americans review their returns from previous years, free of charge, to ensure they've claimed the maximum refund they are entitled to by law," said Tim Gokey, president of H&R Block Retail Tax Services. "That's where the experience of our tax professionals comes in. Our average client is served by a tax professional that has more than eight years of tax experience and more than 400 hours of training, to help identify these mistakes and overlooked deductions."

Frequently overlooked deductions and credits include the Earned Income Tax Credit (EITC), mortgage interest, job relocation expenses, child-care expenses, and charitable contributions.

To learn more about saving on taxes and H&R Block's Double Check Challenge service, visit www.hrblock.com or contact your local H&R Block tax office.

    (1) Individual results may vary.

    About H&R Block

H&R Block Inc. (NYSE: HRB) is a leading provider of tax, financial, mortgage, accounting and business consulting services and products. H&R Block is the world's largest tax services provider, having prepared more than 400 million tax returns since 1955. The company and its subsidiaries generated revenues of $4.9 billion and net income of $490 million in fiscal year 2006. The company operates in four principal business segments: Tax Services (income tax preparation and advice via in-office, online and software solutions); Mortgage Services (non-prime mortgage originations and loan servicing); Business Services (tax, accounting and consulting services for midsized businesses); and Consumer Financial Services (investment and financial advisory services, retail mortgage loans and banking services). Headquartered in Kansas City, Mo., H&R Block markets its services and products under three leading brands - H&R Block, Option One and RSM McGladrey. For more information, visit our Online Press Center at www.hrblock.com/presscenter.

CONTACT: H&R Block
Dan Smith, 816-854-4287
mediadesk@hrblock.com

SOURCE: H&R Block