H&R Block's 'Second Look' Review Finds Missed Deductions, Bigger Refunds
An Additional $1,300 Found for More Than Half of Its Clients
KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 7, 2008--A tax review service from H&R Block (NYSE: HRB) is helping taxpayers maximize their refunds. With a Second Look review, H&R Block's tax professionals check returns that were self-prepared or prepared by other tax professionals for missed tax benefits. Last year, H&R Block found bigger refunds for more than half of clients who received a Second Look review. The average additional refund was more than $1,300 for those who re-filed with H&R Block.
Regardless of who prepared their returns, taxpayers can bring in their current and previous three years' returns for review by an H&R Block tax professional, who confirms the accuracy and ensures that all eligible credits and deductions have been claimed. In addition, the return is covered by the unique H&R Block Guarantee, which provides audit assistance and pays for any penalties and interest owed to the IRS due to an H&R Block error on a return. Last year, H&R Block tax professionals found errors in more than 80 percent of returns prepared by competitors or taxpayers using the leading tax software.
Individual tax audits are at a 10-year high and the IRS has announced this number will rise as it takes steps to update the audit selection system and close the nation's tax gap. A Second Look review gives taxpayers confidence that their return is correct. For $29, taxpayers receive a professional evaluation of their current year's tax return and:
-- Advice on what to do next if any variances are found;
-- A printed advice summary in an H&R Block Advantage Report; and
-- The H&R Block Guarantee which includes free audit assistance
and coverage for any penalties and interest in the unlikely
event of an error by H&R Block.
"With tax audits at peak levels and the economy in a state of flux, Americans are looking for ways to save on their taxes and are counting on professionals to help them prepare their returns correctly," said Tim Gokey, H&R Block president of retail tax services. "A Second Look review assures taxpayers that their return is accurate and that they've claimed all the eligible credits and deductions. It also gives clients confidence that they will have assistance if they're one of the millions audited this year."
Visit www.hrblock.com or call 1-800-HRBLOCK for more information about a Second Look review and H&R Block's other products and services.
About H&R Block
H&R Block Inc. (NYSE: HRB) is the world's largest tax services provider, having prepared more than 400 million tax returns since 1955. The company and its subsidiaries reported revenues of $4.0 billion and net income from continuing operations of $374.3 million in fiscal year 2007. The company has continuing operations in three principal business segments: Tax Services (income tax return preparation and related services and products via in-office, online and software solutions); Business Services (accounting, tax and business consulting services primarily for midsized companies); and Consumer Financial Services (brokerage services, investment planning and related financial advice along with full-service consumer banking). Headquartered in Kansas City, Mo., H&R Block markets its continuing services and products under two leading brands - H&R Block and RSM McGladrey. For more information visit our Online Press Center at www.hrblock.com.
CONTACT: H&R Block
Media Desk, 816-854-4287
mediadesk@hrblock.com
SOURCE: H&R Block