Extra days, extra refunds: taxpayers reap benefits of leap year and free Second Look
Leap year, late deadline give taxpayers four extra days to claim tax benefits on current and prior-year returns
Refund Season 2016 is all about a little extra. With the tax filing deadline already extended three days to April 18, leap year gives taxpayers another day to complete and file their 2015 tax returns. Taxpayers also can amend the past three years of returns and claim any additional refund due. H&R Block (NYSE: HRB), the world’s largest consumer tax services provider, offers a free Second Look to taxpayers who may have left money on the table in their 2012, 2013 or 2014 returns, an amount that could total around $1 billion each year. And now until March 31 at participating locations, new clients to H&R Block who bring in their receipts can have their taxes prepared for half of what they paid someone else last year, subject to a $100 minimum charge.
“Our studies have shown that when taxpayers prepare their own returns, many of them file with inaccuracies. If you were one of the taxpayers who left money on the table since 2012, it’s not too late to get that money back,” said Kathy Collins, H&R Block’s chief marketing officer. “This isn’t just refund season for 2015. With our free Second Look, taxpayers can make sure they don’t miss out on the past three refund seasons. And with our Half Off program, they have even more incentive to come in.”
Overlooked tax benefits shortchange millions of taxpayers
One in five eligible taxpayers miss a potential earned income tax credit worth up to $6,242. Only about 50 million taxpayers itemize even though millions more should – especially many of the 86 million homeowners. Taxpayers also commonly overlook education and child-related tax benefits. Other costly mistakes include using the wrong filing status, like filing as single when qualifying for head of household status, resulting in a higher than necessary tax bill.
“The tax return is the single biggest financial event of the year for many taxpayers, but inaccuracies can jeopardize their refunds,” said Collins. “With a free Second Look, our 80,000 tax professionals, who receive the most training in the industry, can find money others left behind or give taxpayers the assurance they’ve left nothing on the table.”
Taxpayers who prepared their returns themselves or had others prepare them can visit any of H&R Block’s approximately 10,000 U.S. offices for a free review of the three prior year returns. Those who already filed a 2015 return with someone else can also bring in their 2015 return for the free review. Taxpayers can see if a Second Look is right for them with a free online assessment and schedule an appointment online or by calling 1-800-HRBLOCK.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is the world’s largest consumer tax services provider. More than 680 million tax returns have been prepared worldwide by and through H&R Block since 1955. In fiscal 2015, H&R Block had annual revenues of nearly $3.1 billion with 24.2 million tax returns prepared worldwide. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&R Block tax software products. H&R Block also offers adjacent Tax Plus products and services. For more information, visit the H&R Block Newsroom at https://www.hrblock.com/tax-center/newsroom.
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