H&R Block error may delay 600,000 tax returns
Tue, 12 Mar 2013 18:27:17 GMT —
If you haven't received your tax refund, it could be due to an issue by the nation's biggest tax preparer.
According to the Wall Street Journal, H&R Block "bungled more than 600,000 tax returns, delaying refunds by as much as six weeks."
The website MarketWatch reports H&R Block "improperly filed Form 8863, leaving a mandatory field blank." The form is used to claim educational credits. The error apparently impacts about 10 percent of the 6.6 million tax returns containing Form 8863.
According to the report, "H&R Block confirms there is an issue with tax returns filed before Feb. 22 because the IRS changed the way it processes some of the yes or no questions on the form. While in previous years, leaving a field blank to indicate "No" on certain questions was acceptable, the IRS is now requiring preparers to enter an 'N.'"
The report points out that the delay is on top of a two week delay caused by the fiscal-cliff deal. It also comes at a time when college students are facing financial aid deadlines.
H&R Block is reportedly working with the IRS to fix the errors.