Kansas City, MO,(MARKET WIRE via COMTEX) -- The federal tax code has more than one million words, is several thousand pages long, and in 2008 alone, there were 500 changes to the code, or more than one per day*. More than ever, Americans need the counsel of trusted tax professionals to decipher the complex tax code and apply it to their unique financial situations.
"The tax code is like a thousand-page instruction manual that's always changing. Reading, interpreting and applying this technical document is no easy feat for the untrained eye," said Amy McAnarney, executive director of The Tax Institute at H&R Block. "In this tough economic climate, taxpayers can't afford to leave money on the table. So, they should only work with a tax advisor who's up-to-date on the latest tax law changes."
H&R Block (NYSE: HRB) offers six tips to help taxpayers find the right tax professional:
Regardless of who prepares the return, the taxpayer is legally responsible for the information on the return. Researching the best tax professional now can prevent significant financial and legal harm later. For more information about tax season 2009, visit www.hrblock.com.
*The Wall Street Journal, Jan. 8, 2009, "Confusing Tax Rules Under Fire."
**Conducted Nov. 6-9, 2008. A nationally representative sample of 1,000 adults ages 18 and older residing in the U.S. were surveyed by telephone. Results are considered accurate within + or - 3.1 percentage points.
The Tax Institute, a division of H&R Block, is a national leader in providing unbiased research, analysis and interpretation of federal and state tax laws. Staffed by enrolled agents, CPAs and attorneys, The Tax Institute provides industry expertise for matters related to taxes and the professional tax preparation industry.
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955 and generating annual revenues of $4.1 billion in fiscal year 2008. H&R Block provides income tax return preparation and related services and products via a nationwide network of approximately 13,000 company-owned and franchised offices and through TaxCut(R) online and software solutions. The company also provides business services through RSM McGladrey.
SOURCE: H & R Block