H&R Block Opens 10,000 Offices Nationwide, Ready for Tax Season

KANSAS CITY, MO--(Marketwired - January 03, 2017) - H&R Block (NYSE: HRB), the nation's largest consumer assisted tax preparation company, has opened its 10,000 offices nationwide to serve clients for the 2017 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 April 18.

The IRS expects 153 million tax returns this year with approximately three-fourths of those returns receiving a refund. This year, the average refund should be approximately $2,900.

"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 Karen Orosco, senior vice president of H&R Block U.S. Retail Sales and Service organization. "There are many reasons to turn to the industry's most trusted tax preparation services company for your tax filing needs."

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 Congress for the 2016 tax year, could impact as many as 15 million taxpayers. While the goal of the new law is to fight tax identity refund fraud, it has other implications for taxpayers, including:

1. 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 IRS has indicated that the impacted taxpayers, for a variety of reasons, may have to wait until the week of Feb. 27 for refunds to deposit.
2. 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 IRS authority to act on certain tax return errors without a formal audit of an affected taxpayer.
3. 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 H&R Block tax professional."