H&R Block Offers Free Second Look at Prior Year Tax Returns

Lawndale News Chicago's Bilingual Newspaper - BusinessThrough April 30, participating H&R Block tax offices will offer taxpayers free Second LookSM reviews of their 2008 – 2010 income tax returns not prepared by H&R Block. This review is designed to ensure taxpayers received the maximum refund possible and to help them recover any hard-earned money that might have been left on the table.

New this year, taxpayers can access the expertise of H&R Block for a free Second Look from the comfort of their own homes with Block Live. The video conferencing tool engages the taxpayer directly with a tax professional in a secure format, making it even easier to have H&R Block do a Second Look at prior year tax returns. The Second Look review process in Detroit revealed many common tax mistakes, including:

  • Missed education credits: The American Opportunity Credit was extended through 2012, allowing taxpayers to claim $2,500 for the first four years of college education for each student. The Tuition and Fees Deduction provides a reduction in taxable income of up to $4,000, and the Lifetime Learning Credit is worth up to $2,000 per return for post-secondary degree programs. These education benefits cannot be combined (for the same student) so taxpayers should work with a tax professional to choose the one that is most beneficial.
  • Inaccurate filing status: It is very important to accurately assess your filing status as it impacts the value of some credits and deductions available. For example, a family in Detroit received an additional $5,498 from their Second Look review by changing their filing status to married filing jointly versus the often less beneficial married filing separate status).
  • Overlooked Earned Income Tax Credit: Eligible low-income earners did not claim the Earned Income Tax Credit, which is worth up to $5,751 for tax year 2011.

Taxpayers who want to take advantage of the free Second Look® offer can find a participating H&R Block office by visiting www.hrblock.com.

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