H&R Block Offers Free Mid-Year Check-In to Help Tax Filers Maximize Refunds, Avoid Tax Season Surprises
01 Agosto 2024 - 7:00AM
On average, Americans who received tax refunds in 2024 got more
back than in previous years, but fewer people received a refund,
according to IRS data. H&R Block (NYSE: HRB) advises taxpayers
who owed money or were caught off guard at tax time to conduct a
tax assessment now to check that their withholdings and financial
setup will serve them well when filing taxes. H&R Block is
offering free Mid-Year Care Check-Ins to ensure tax filers are on
track for their maximum refund1 next tax season.
A recent survey commissioned by H&R Block
revealed that 81% of consumers say maximizing their take-home pay
through tax withholding optimization is important, while only 28%
say they have the support needed to fully meet this need.2
Now is the make-or-break time to recalibrate to avoid surprises
next year, and H&R Block offers a free W-4 calculator tool that
helps filers determine if their current withholding status aligns
with their financial goals. The tool assists filers with adjusting
their withholdings, accounting for any side income, and creating an
updated, ready-to-sign W-4 form all in one place.
“Many life changes happen over the course of a year, like buying
a home, getting a raise at work, changing jobs or even selling
investments. People may not realize that some of these life
milestones can increase tax liability if you don’t properly account
for them or know to take advantage of tax benefits created by the
change,” said Andy Phillips, Director of The Tax Institute at
H&R Block. “H&R Block is here to help people understand how
life changes and financial decisions throughout the year can have
tax implications and make adjustments as needed to improve outcomes
at tax time.”
H&R Block has thousands of locations in cities across the
U.S., with talented tax pros ready to help with Mid-Year Care
Check-In. Kim Buttler, a Chicago area tax pro who has been helping
H&R Block clients for nearly 17 years knows firsthand how big
of a difference these financial check-ups can make in a client’s
life.
“Part of our job as tax preparers is also advising our clients
on how to adjust withholdings to ensure a better outcome in the
future. I helped a client who mistakenly marked themselves as being
exempt from both federal and state tax withholding and as a result,
owed a substantial amount,” said Buttler. “As a single mother, this
was devastating because she relied on getting a large tax
refund.”
“By doing a Mid-Year Care Check, we can help our clients avoid
situations like this. We will even print out a new W-4 form and
provide instructions to the client on how to correctly complete it
and submit it to their HR department. Now 10 years later I still
service that client and look forward to seeing her year after
year,” said Butler.
From individuals to small business owners, there are significant
advantages to checking your finances and making any necessary
adjustments at the halfway point in the year.
New entrepreneurs with self-employment income or a gig work
income are often surprised to learn they may need to pay quarterly
taxes. On top of ensuring timely quarterly tax payments, small
businesses can benefit from a Mid-Year Care Check-In by planning
for tax reductions to maximize business credits and deductions,
evaluating changes in business structure, and ensuring compliance
with new small business regulations like beneficial ownership
information reporting to avoid penalties. A check-in can also help
keep business records organized to streamline year end
bookkeeping.
“Whether you are a solopreneur, a gig worker or a small business
owner, it is important to understand your tax obligations but there
is also an opportunity to be more strategic to ensure a maximum
refund,” said Phillips. “There are some deductions that are
universal but there are many that are specific to each industry so
it is important to have a partner, like H&R Block, that has
your specific industry expertise and can help you understand what
you can claim and cannot.”
H&R Block offers a courtesy Mid-Year Check-In to clients as
part of its No Surprises Guarantee.3 Some situations are more
complex and may benefit from professional advice. To schedule an
appointment to talk to a tax professional about unique tax
situations and how to adjust withholdings, visit hrblock.com.
1. All tax situations are different. Not everyone gets a refund.
See hrblock.com/guarantees for complete details.2. The total sample
size was 3,500 US adults. 3. Limitations apply. Description of
benefits and details at hrblock.com/guarantees.
About H&R Block H&R Block, Inc.
(NYSE: HRB) provides help and inspires confidence in its clients
and communities everywhere through global tax preparation services,
financial products, and small-business solutions. The company
blends digital innovation with human expertise and care as it helps
people get the best outcome at tax time and also be better with
money using its mobile banking app, Spruce. Through Block Advisors
and Wave, the company helps small-business owners thrive with
year-round bookkeeping, payroll, advisory, and payment processing
solutions. For more information, visit H&R Block News.
Media Contacts:
Media Relations:
Shayla Wilkinson, (816) 718-1448 shayla.wilkinson@hrblock.com
Media Desk: mediadesk@hrblock.com
Investor Relations:
Michaella Gallina, (816) 854-3022, michaella.gallina@hrblock.com
Jordyn Eskijian, (816) 854-5674, jordyn.eskijian@hrblock.com
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