H&R Block Opens 10,000 Offices Nationwide, Ready for Tax Season
This tax season, some taxpayers will face a delay in getting their tax refunds due to a new law meant to help combat tax refund fraud. Others will deal with the increased threat of tax identity theft and uncertainties around the Affordable Care Act. In addition, due to the observance of a federal holiday, the filing deadline will be on
"We know taxpayers want to do more than just get their taxes done, which is why we are here to make sure they get their taxes won," said
1. PATH Act to cause delays for some early filers
A possible refund delay, due to the Protecting Americans from Tax Hikes (PATH) Act, passed by
Many refunds will be delayed. Taxpayers who claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) who file early in the season will have their refunds delayed. The
IRShas indicated that the impacted taxpayers, for a variety of reasons, may have to wait until the week of Feb. 27for refunds to deposit.
Less room for error when filing. The PATH Act has set stiff penalties on top of the already existing ones to prevent false claims made on taxes, including refundable credits. The PATH Act also gives the
IRSauthority to act on certain tax return errors without a formal audit of an affected taxpayer.
- New tax benefits. The PATH Act expands tax benefits that make it easier for taxpayers to save. From education to retirement to rolling over funds from employee-sponsored retirement plans, the PATH Act provides several new tax advantages for taxpayers.
"The PATH Act is complicated, holding both opportunity and caution for taxpayers," Orosco said. "To get every tax advantage, as well as receive their refunds as early as possible, taxpayers should not delay in making an appointment to file with their
2. Tax refund fraud a growing concern
Among the challenges for identity theft victims, they can lose access to the refund they are due for four months or more, as it takes multiple steps with the
"One of the best ways for taxpayers to fight tax identity theft refund fraud is by visiting a local
3. Dozens of exemptions exist to reduce or avoid the ACA penalty
The penalty for being without health insurance has increased substantially since 2014 when the Affordable Care Act (ACA) first went into effect for individuals.
For the 2016 tax year, taxpayers will pay a penalty of
"In some cases uninsured taxpayers may qualify for one of several exemptions to reduce or eliminate that penalty," said
"We have 80,000 tax professionals ready to serve the needs of all taxpayers," Orosco said. "For more than six decades,
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