Tax season is underway and the April 18 tax deadline to file your 2022 tax return or request an extension is fast approaching. The IRS began accepting and receiving returns for the 2022 tax year on January 23 About 46 million returns by February 24. Interestingly, 76% of these returns were returned to the taxpayer, with an average amount of $3,079.
Many taxpayers are turning to online tax preparation services like H&R Block to help themThis timely H&R Block review will give you the lowdown on the service’s filing options, costs, benefits and downsides to help you understand whether the service is a good option.
You can now get online expert help from H&R Block here.
H&R Block Overview
H&R Block was founded in 1955 by brothers Henry and Richard Bloch. Since then, the agency said it has prepared more than 800 million tax returns internationally.
H&R Block may be best known for its offices across the country, but the company offers a variety of servicesTo help you file your taxes. In addition to a free online filing option, H&R Block offers four paid filing options depending on your budget and needs (more on that in a moment).
If you qualify for oneH&R Block offers four ways to get it:
- Deposit the refund electronically into your account
- Accept a paper check
- Get your federal refund sooner by transferring to a Spruce account, H&R Block’s mobile banking app
- Deduct your filing fee from your refund
H&R block costs
H&R Block offers four do-it-yourself filing options ranging from free to $115. Here are the costs and features associated with each service
- Free Online: Unlike TurboTax and other tax software options, H&R Block offers a free filing option for federal and state taxes. This service is best suited for W-2 employees and others who file easy returns. The free version is a good option for students as they can take advantage of education-related tax credits and deductions. You can report different types of income, such as unemployment payments, alimony, and investment earnings. Learn more about free options here.
- Deluxe: This online offering costs $55 for federal tax filings and $45 for state filings. This option includes the same features as the free version, but is designed for those who want to itemize their taxes and take deductions for HSA contributions and child and dependent care expenses and other expenses. You have the option to upgrade for $70 and get live online help from tax professionals, either via screen share or chat and video.
- Premium: You may need a premium package if your taxes are more complex and you need to claim income or losses , investment or cryptocurrency trade. The premium is $75 for federal and $45 for state tax filings. As with the Deluxe Edition, you can upgrade to enlist the help of an H&R Block tax expert.
- Self-reliant: This version comes with the same features as Premium and costs $115 and $45 for federal and state tax filings, respectively. This version is best suited for business owners and those participating in the gig economy.
In addition to the DIY options above, you can also hire H&R Block professionalsFor you, prices start at $85. Make an appointment at an H&R Block office near you or at a location far from your home. For convenience, you can drop off your documents at your local office or upload them using your computer or device
Start online now by clicking here.
If you prefer using software rather than doing your taxes online, you can download H&R Block’s tax software directly to your computer, starting at $19.95. There is no free option, and the software comes with four options:
- Basic ($19.95): For easy tax preparation.
- Deluxe + State ($44.95): It is more suitable for investors and those who want to itemize deductions.
- Premium ($64.95): This version is designed for more complex tax preparation for self-employed and rental property owners.
- Premium and Business ($79.95): This top package supports business owners and employers.
The above price does not include state tax and fees for filing state e-filing.
H&R Block Professionals
H&R block tax filing options come with several valuable benefits, such as:
- Simple question-answer interface: Filling out your tax forms is easy and intuitive. Answer the questions presented to you.
- Simple Document Upload Process: You may need to upload W-2s, 1099s or other documents, which you can upload using the H&R Block portal by taking a picture of them.
- Help from tax professionals: By filing with Online Assist, which starts at $70, you can get unlimited help from an H&R Block Tax Pro.
If these facilities are convenient for you then start your return online now.
H&R Block Cons
As with any financial product, it’s wise to consider the drawbacks of H&R Block’s income tax preparation options before proceeding. Note the following items:
- The free version is not an option for those with a Health Savings Account (HSA): Surprisingly, the free version of H&R doesn’t include HSA contributions even if your employer pays for your plan. You must upgrade to the Deluxe version to report HSA contributions on your income taxes.
- Free for worry-free audit support for H&R Block Online: H&R Block’s worry-free audit support is free if you use the company’s tax software but costs an additional $19.95 if you file your income taxes online.
Unique Features and Drawbacks of H&R Block Tax Services
Perhaps the most unique feature of H&R Block’s tax preparation services is the flexibility to file online with H&R Block, or using tax software, or file in person at H&R Block’s 12,000 retail offices. Online and software options are best for do it yourself
Of course, you have the option of making an appointment with an H&R tax professional at a local office, at home, or both. You can submit your documents and let H&R Block do all the heavy lifting.
H&R Block offers a convenient way to upload your W-2s and other documents by simply taking a picture of them and instantly uploading them to your account through the online portal, MyBlock.
If you need to file multiple state taxes, however, H&R Block may not be your best choice because you’ll have to pay to file each state separately. In contrast, Jackson Hewitt offers unlimited state returns.
Is H&R Block Worth It?
H&R BlockMay be best for students and others with simple taxes who can take advantage of H&R Block’s powerful free version. You can use H&R Block to get in-person support at your local H&R Block retail office.
The company’s online and tax software options are competitively priced compared to other tax services. Just be aware that extras like worry-free audit support can increase your costs. Learn more about H&R Block and start filing your taxes today!