H&R Block Helps Unscramble the Recovery Act Tax Code With Bill Signed, Digesting Impact on Individuals Begins
KANSAS CITY, MO, (MARKET WIRE via COMTEX) -- Now the real work begins. The direct impact of certain deductions and credits in the American Recovery and Reinvestment Act to individual taxpayers may take a few months or even a year to actually come to fruition. H&R Block (NYSE: HRB) puts the spotlight on several different provisions that can put money in taxpayers' pockets now and in the future.
"Taxes aren't just a one-day, annual event," said Amy McAnarney, executive director of The Tax Institute at H&R Block. "They are something you should think about year-round. And in this economic climate and the passage of the Recovery Act, taxpayers likely will need assistance getting the maximum benefit out of their tax situation."
H&R Block notes five key areas that impact individual taxpayers today and in the future:
- Putting money in taxpayers' pockets now
- Helping more of those who have less
- Making homeownership more affordable
- Increasing access to higher education
- Getting green from the garage
Learn more about the American Recovery and Reinvestment Act
With credits and deductions from a few hundred dollars to several thousand dollars, taxpayers want to get that money now as opposed to when they file their 2009 returns next spring.
"Adjustments to the taxpayer's W-4 can reap immediate benefits to their paycheck," McAnarney said. "That's one way to take advantage of a credit now, when they most need it."
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.
About H&R Block
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. For more information visit our Online Press Center at www.hrblock.com.
SOURCE: H & R Block