Here's some breaking news on the financial front -- this time concerning the issue of taxes from H&R Block:
Maximizing deductions is the mission for millions of American taxpayers every year. This year, H&R Block is providing more assistance than ever as it celebrates H&R Block National Tax Advice Day on Jan. 12 — a nationwide initiative to raise public awareness of the major changes or missed credits that have the greatest impact on taxpayers. The IRS begins accepting e-filed returns the following day, Jan. 13.
“National Tax Advice Day is about making sure Americans get the advice that matters, the tools they need, and the expertise they demand right now, as we kick-off the tax season,” said Tom Allanson, senior vice president and general manager, H&R Block Digital Tax Solutions. “Whether you want to know if you can deduct an iPod, deduct school supplies, or calculate the impact of new tax laws, we have the experience, technology, and tools that can make a real difference to every taxpayer.”
Allanson noted that the need for advice is greater than ever, with a wide range of commonly missed deductions that can impact the bottom-line for taxpayers who know their options. Nationwide, for example, 4.1 million taxpayers miss taking education credits and deductions, and 7.3 million taxpayers miss claiming the Earned Income Tax Credit.
H&R Block is offering extensive advice to help people get the maximum refund, understand changes in the law, and get started on their taxes. Hundreds of tips, common and unusual, plus a tax preparation checklist are available at the National Tax Advice Day website.
From information about Katrina-related tax relief and tax breaks for energy-saving purchases like hybrid cars, to more unusual tax deductions (like posing oil for body builders and pet relocation expenses), H&R Block has developed extensive resources and product choices to enable people to get the help they need when they need it online.
“Each year, half of all taxpayers, or 66 million Americans, wait until the last 30 days to file their taxes and this leads to errors, missed deductions, and a more stressful tax experience,” Allanson said. “By getting started now, do-it-yourself taxpayers can educate themselves on changes and be aware of how their situation may change this year and ensure they understand all of the deductions that can directly add money to their wallets.”
Also at www.nationaltaxadviceday.com, taxpayers can access a wide range of new products from H&R Block. H&R Block TaxCut Online do-it-yourself tax products are backed by over 50 years of tax preparation expertise. No other tax services company today can make this claim. The TaxCut Online suite of products for Tax Year 2005 are tailored for every type of taxpayer, from those with the most simple to the most complex tax and financial situations, and are conveniently located at www.taxcut.com and www.hrblock.com.
In addition to its online efforts, H&R Block is kicking off the tax season by mobilizing its network of more than 70,000 tax professionals. H&R Block tax professionals will be hitting the streets across America all week at events around the country and in communities nationwide, delivering free advice on tax topics with the most widespread impact.
I'll be posting more on this issue throughout the next few months, so stay tuned for tips on how you can minimize your income taxes this year.
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