January 10, 2013 // Franchising.com // San Francisco, CA - Due to late passage of tax legislation, the IRS announced today it will begin processing federal income tax returns on Jan. 30. That is eight days later than originally planned.
This does not mean taxpayers have to delay preparing their tax returns, however. Whether taxpayers prepare in one of H&R Block’s 11,000 tax offices or use our At Home product, they can prepare their returns now and we will hold them until the IRS is ready to begin processing.
“While the IRS indicated some forms may be delayed, the majority of taxpayers can begin the filing process now. By preparing the tax return with H&R Block now, taxpayers can have confidence they’ll get their tax refund as fast as possible,” said Kathy Pickering, executive director of The Tax Institute at H&R Block.
According to IRS data, approximately 18 million total taxpayers typically file a tax return in January with 98 percent of those receiving a refund. “With refunds now coming several weeks later, those who can afford it the least are impacted the most,” Pickering said.
To ensure timely processing of the return and refund delivery, H&R Block recommends taxpayers still prepare their return as they normally would.
H&R Block, Inc. (NYSE: HRB) is the world's largest tax services provider, having prepared more than 600 million tax returns worldwide since 1955. In fiscal 2012, H&R Block had annual revenues of $2.9 billion and prepared 25.6 million tax returns worldwide. Tax return preparation services are provided in company-owned and franchise retail tax offices by nearly 100,000 professional tax preparers, and through H&R Block At Home™ digital products. H&R Block Bank provides affordable banking products and services. For more information, visit the H&R Block Online Press Center.