Overview H&R Block
H&R Block is a tax preparation and financial services company headquartered in Kansas City, Missouri. The company was founded in 1955 by Henry W. Bloch and Richard Bloch. H&R Block provides tax preparation services, including online and in-person tax filing, as well as a range of financial products and services.
H&R Block has over 10,000 retail locations in the United States, Canada, and Australia. In addition to tax preparation services, the company offers tax software for individuals and small businesses, as well as online bookkeeping and payroll services. H&R Block also provides a range of financial products, including prepaid debit cards, refund anticipation loans, and personal loans.
The company is known for its expertise in tax preparation and has been helping individuals and small businesses with their tax needs for over 65 years. H&R Block is committed to providing its clients with high-quality services and has a team of tax professionals who are dedicated to helping clients navigate complex tax laws and regulations.
H&R Block Pros and Cons
- Expertise in tax preparation: H&R Block has a long-standing reputation for providing high-quality tax preparation services. The company has a team of tax professionals who are knowledgeable about tax laws and regulations, making it easier for clients to navigate the tax preparation process.
- Convenience: H&R Block has over 10,000 retail locations in the United States, Canada, and Australia, making it convenient for clients to access tax preparation services. In addition, the company offers online tax preparation software and services, which can be accessed from anywhere with an internet connection.
- Range of services: H&R Block offers a range of financial products and services in addition to tax preparation, including bookkeeping, payroll, and loans. This makes it a one-stop-shop for clients who need help with their financial needs.
- Satisfaction guarantee: H&R Block offers a satisfaction guarantee, which means that if clients are not satisfied with their tax preparation services, the company will refund their preparation fees.
- Cost: H&R Block’s tax preparation services can be expensive compared to other options, particularly for those with more complex tax situations.
- Limited support for self-employed individuals: H&R Block’s tax software and services may not offer as much support for self-employed individuals as other tax preparation options.
- Limited international tax support: H&R Block’s tax preparation services may not be as comprehensive for clients who have international tax obligations.
- Availability of tax professionals: During the busy tax season, it may be difficult to schedule an appointment with a tax professional at an H&R Block location, particularly in more rural areas.
H&R Block Prices and Plans
H&R Block offers a variety of pricing options for their tax preparation services, depending on the complexity of the tax return and the type of service required. Here are the current prices and plans for H&R Block:
- Online Tax Filing: H&R Block’s online tax filing options include a free option for simple tax returns, as well as paid options for more complex returns. Prices for paid options typically range from $29.99 to $109.99, depending on the level of support required.
- In-Person Tax Preparation: H&R Block offers in-person tax preparation services at their retail locations. Prices for these services typically start at around $69 for a basic tax return, and can range up to several hundred dollars for more complex tax situations.
- Tax Pro Go: Tax Pro Go is a virtual tax preparation service offered by H&R Block. Prices for this service typically range from $49 to $389, depending on the complexity of the tax return and the level of support required.
- Peace of Mind Extended Service Plan: This is an optional add-on to H&R Block’s tax preparation services, which provides additional protection against IRS audits and other issues. The cost of this plan typically ranges from $19.99 to $44.99, depending on the level of protection required.
It’s worth noting that prices for H&R Block’s services can vary depending on factors such as location, time of year, and the complexity of the tax return. Clients should consult with a tax professional at H&R Block for a personalized quote based on their specific needs.
Filing with a Tax Expert
Filing with a tax expert at H&R Block can be a good option for individuals who have complex tax situations or who want the peace of mind of having a trained professional handle their tax return. Here’s how it works:
- Schedule an appointment: Clients can schedule an appointment at an H&R Block retail location, either online or by phone. During the appointment, the tax expert will review the client’s tax documents and ask questions about their income, deductions, and other relevant information.
- Tax preparation: Based on the information provided, the tax expert will prepare the client’s tax return. The expert will ensure that all applicable deductions and credits are claimed, and will review the return for accuracy and completeness.
- Review and sign: Once the tax return is complete, the client will review it with the tax expert to ensure that all information is correct. The client will then sign the return, and the tax expert will file it electronically with the IRS.
- Follow-up support: If the client has any questions or concerns about their tax return after it has been filed, they can contact the tax expert for support.
Filing with a tax expert can be more expensive than using H&R Block’s online tax preparation services, but it can also provide additional peace of mind and support for complex tax situations. Clients should consult with a tax expert at H&R Block to get a personalized quote based on their specific needs.
H&R Block for Expats
H&R Block offers tax preparation services for US citizens living abroad, also known as expats. Here’s what expats should know about using H&R Block for their tax needs:
- Expertise in expat tax laws: H&R Block has a team of tax professionals who are knowledgeable about the unique tax laws and regulations that apply to US citizens living abroad. This can be especially helpful for expats who have complex tax situations, such as foreign income or investments.
- Online tax preparation software: H&R Block offers online tax preparation software that is specifically designed for expats. This software can guide expats through the tax preparation process and help them navigate the unique tax laws and regulations that apply to their situation.
- Virtual tax preparation services: Expats who prefer to work with a tax professional can use H&R Block’s virtual tax preparation service, Tax Pro Go. This service allows expats to connect with a tax professional who is knowledgeable about expat tax laws and regulations, without needing to visit an H&R Block retail location.
- Knowledge of foreign tax credits: Expats may be eligible for foreign tax credits, which can help offset their US tax liability. H&R Block’s tax professionals are knowledgeable about these credits and can help expats take advantage of them to minimize their tax burden.
- Assistance with FBAR and FATCA requirements: Expats may have additional reporting requirements related to their foreign bank accounts and assets. H&R Block’s tax professionals can help expats understand and comply with these requirements, including the Foreign Bank Account Report (FBAR) and Foreign Account Tax Compliance Act (FATCA).
H&R Block Audit Assistance
H&R Block offers audit assistance as part of their tax preparation services, which can provide clients with additional protection in case of an audit by the IRS. Here’s what clients should know about H&R Block’s audit assistance:
- Free audit support: All H&R Block clients are eligible for free audit support from an H&R Block enrolled agent or tax professional. This support includes guidance on what to do if the IRS contacts you about your tax return, as well as assistance with gathering the documents and information needed to respond to the audit.
- Additional protection with Peace of Mind® Extended Service Plan: Clients can purchase the Peace of Mind® Extended Service Plan for additional protection in case of an audit. This plan provides up to three years of audit protection, as well as assistance with identity theft and tax fraud, and is available for an additional fee.
- Assistance with IRS communication: H&R Block’s audit assistance can also help clients communicate with the IRS and respond to any requests for information or documents related to their tax return. This can help ease the burden of an audit and ensure that clients are able to provide the IRS with the information they need in a timely manner.
- Expert guidance: H&R Block’s tax professionals are knowledgeable about the tax laws and regulations that apply to their clients’ situations, and can provide expert guidance and support throughout the audit process.
Is H&R Block Safe and Reliable?
H&R Block is generally considered safe and reliable for tax preparation services. Here are some reasons why:
- Established company: H&R Block has been in business for over 65 years and has helped millions of clients prepare their taxes during that time. The company has a strong reputation in the industry and has earned the trust of many customers.
- Secure technology: H&R Block uses secure technology to protect client data, including encryption and multi-factor authentication. The company also adheres to strict data security and privacy standards to protect client information.
- Trained professionals: H&R Block’s tax professionals are trained and certified to prepare tax returns, and the company has a rigorous training program to ensure that its employees are knowledgeable about the latest tax laws and regulations.
- Satisfaction guarantee: H&R Block offers a satisfaction guarantee, which means that if clients are not satisfied with the tax preparation services they receive, the company will refund their preparation fee and provide additional support to resolve any issues.
- Regulatory oversight: H&R Block is regulated by various government agencies, including the Internal Revenue Service (IRS) and state boards of accountancy. These agencies oversee the company’s tax preparation practices and ensure that it is operating in compliance with applicable laws and regulations.
Overall, H&R Block is considered a safe and reliable option for tax preparation services. However, as with any tax preparation service, it’s important for clients to review their tax returns carefully before signing and filing them, and to contact H&R Block if they have any questions or concerns.
H&R Block Competitors
H&R Block has several competitors in the tax preparation industry. Some of the most notable competitors include:
- TurboTax: TurboTax is a popular tax preparation software that allows users to file their taxes online. The software is owned by Intuit, and offers a variety of features and plans to meet the needs of different users.
- Jackson Hewitt: Jackson Hewitt is a tax preparation company that offers in-person tax preparation services at its retail locations. The company also offers an online tax preparation service, Jackson Hewitt Online.
- TaxAct: TaxAct is an online tax preparation software that offers a variety of features and plans to meet the needs of different users. The company has been in business since 1998 and has helped millions of customers file their taxes.
- Liberty Tax: Liberty Tax is a tax preparation company that offers in-person tax preparation services at its retail locations. The company also offers an online tax preparation service, eSmart Tax.
- TaxSlayer: TaxSlayer is an online tax preparation software that offers a variety of features and plans to meet the needs of different users. The company has been in business since 1965 and has helped millions of customers file their taxes.
Sure, I’d be happy to help answer some frequently asked questions about H&R Block!
What services does H&R Block offer?
H&R Block offers a range of tax preparation services, including in-person tax preparation, virtual tax preparation, and online tax preparation. They also offer financial and wealth management services, including retirement planning, investment planning, and debt solutions.
How much does H&R Block charge for tax preparation?
The cost of tax preparation with H&R Block depends on the complexity of your tax situation, the type of service you choose, and where you live. However, the average cost for tax preparation with H&R Block is around $250 for a federal and state return.
What documents do I need to bring to H&R Block for tax preparation?
The documents you need to bring to H&R Block for tax preparation can vary depending on your specific tax situation. However, some common documents you may need to bring include your W-2 form, 1099 forms for any other income, receipts for deductible expenses, and documentation for any credits or deductions you plan to claim.
Can H&R Block help me with tax problems, such as an audit or back taxes?
Yes, H&R Block offers assistance with tax problems such as audits, back taxes, and other tax issues. They have a team of tax professionals who can help you navigate these complex situations and find a solution that works for you.
How long does it take for H&R Block to process my tax return?
The time it takes for H&R Block to process your tax return can vary depending on a variety of factors, such as the complexity of your tax situation and the time of year. However, in general, you can expect to receive your refund within 21 days if you file electronically and have the refund directly deposited into your bank account.