Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Yahoo)   H&R Block revenues down this year on news that people don't need to use college kids to do their taxes   (news.yahoo.com) divider line 62
    More: Obvious, H&R Block  
•       •       •

794 clicks; posted to Business » on 21 Apr 2010 at 11:08 AM (4 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



62 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | » | Last | Show all
 
2010-04-21 10:23:12 AM  
The number of scam victims has fallen?

How unfortunate.
 
2010-04-21 11:13:27 AM  
On a whim, I walked into my local mall's H & R Block back in March and place looked like it'd been used previously to house the indigent. It had stained, indoor/outdoor carpet and smelled like a bum's yambag.

Quite an impressive outfit they're running over there.
 
2010-04-21 11:16:02 AM  
I_Am_Weasel: The number of scam victims has fallen?

How unfortunate.


I usually do my own taxes but for whatever reason I owe money this year. I brought my already completed return to H&R to look over and explain why I owed money because I couldn't see why.

Not only did the rep explain why I owed but he refused to accept any payment. Then he gave him his email and told me to email him if I had any problems.

I know, cool story bro, but at least not all of them are morons out to screw you.
 
2010-04-21 11:23:09 AM  
Taxes are fairly easy to do if no one has a job
 
2010-04-21 11:24:30 AM  
The have the college kids as data entry monkeys. If you have any type of complexity to your return they have people who review who do know what they are doing (usually).

I just don't see doing my taxes in a cubicle inside Wal Mart.
 
2010-04-21 11:28:05 AM  
My taxes are a little bit complicated because I work in a different state than I live and I also can't use the 1040EZ form so I have taken my taxes in to H&R for the last few years and the last two I have had to pay in as well as having to pay H&R double because I had to pay in to the government. Anyway, I took my taxes elsewhere this year. Turns out they had done my taxes wrong and I overpaid by about $700 each year. fark them.
 
2010-04-21 11:35:56 AM  
Use to work there, and my impression was that your tax pro's knowledge would be hit or miss. I can tell you that H&R requires extensive tax training to maintain your certifications. I also found that when looking at someone who prepared their own's return, they were wrong almost every time. The majority of the time it'd be them giving themselves a credit they weren't actually aloud to take. Sometimes we'd find a credit they missed though, that made them quite happy. I thought our prices were kind of high, but they're cheaper than the other commercial competitors.
 
2010-04-21 11:46:17 AM  
I made the mistake of using them once. I was shocked to see I was paying someone to basically enter my data into their version of turbo tax. I guess I was expecting some sort of magic tax accountant since they always claim a bigger return.

All I got was screwed out of $200.
 
2010-04-21 11:48:36 AM  
Or dumb toothless biatches who get pissy when you point out mistakes to them, then enter the account number as the interest on a saving account.
 
2010-04-21 11:49:41 AM  
Jobber8742: Use to work there, and my impression was that your tax pro's knowledge would be hit or miss.

I can beat that. I used to write income tax software, and the accountants on staff sometimes had to tell the accountants at the IRS or state tax offices why the new tax codes they'd written that year were ambiguous, wrong, etc. In essence, they'd put new lines on the tax forms without truly considering all the ramifications.
 
2010-04-21 11:55:41 AM  
Jobber8742: Use to work there, and my impression was that your tax pro's knowledge would be hit or miss. I can tell you that H&R requires extensive tax training to maintain your certifications. I also found that when looking at someone who prepared their own's return, they were wrong almost every time. The majority of the time it'd be them giving themselves a credit they weren't actually aloud to take. Sometimes we'd find a credit they missed though, that made them quite happy. I thought our prices were kind of high, but they're cheaper than the other commercial competitors.

When I did my own taxes in my younger days, I would error on the side of caution. Include paper gains on mutual funds and not include paper losses etc... Invariably the IRS would catch that error and send me a check from time to time.

Now that I have investments and real estate, I go to a pro. That shiat is complicated.

It beats getting audited and having your assets frozen for months while you go through tax court. Those old school IRS tactics are gonna make a comeback with the IRS and State Taxing authorities.
 
2010-04-21 12:21:04 PM  
Perhaps they shouldn't have jacked up their e-file rates the way they did this year. I certainly went elsewhere.
 
2010-04-21 12:24:06 PM  
But they still offer your refund* early, right? For a small fee*.
 
2010-04-21 12:31:52 PM  
stuhayes2010: I made the mistake of using them once. I was shocked to see I was paying someone to basically enter my data into their version of turbo tax. I guess I was expecting some sort of magic tax accountant since they always claim a bigger return.

All I got was screwed out of $200.


What you're paying for is their knowledge of tax law, not the software. Whether you actually get a knowledgeable person is a different story.
 
2010-04-21 12:48:38 PM  
HAHA! My firm's revenues actually went up for the Spring season. Suck it retail tax outlets!
 
2010-04-21 12:49:54 PM  
I used them once. Then I found out that they were just punching my numbers into the computer and charging me $250. This year I used a popular online tax tool and it cost a fraction of that.
 
2010-04-21 12:59:15 PM  
Farkn Yaj Yenrac: My taxes are a little bit complicated because I work in a different state than I live and I also can't use the 1040EZ form so I have taken my taxes in to H&R for the last few years and the last two I have had to pay in as well as having to pay H&R double because I had to pay in to the government. Anyway, I took my taxes elsewhere this year. Turns out they had done my taxes wrong and I overpaid by about $700 each year. fark them.

I hope you amended your 2006, 2007, and 2008 returns to recoup the lost cash. Do it fast. 3 year time limit on refund claims. That's 3 years from the date filed, so you may be out of luck on the 06 unless you extended.
 
Jha
2010-04-21 01:09:32 PM  
It's ok, Obama will do all of our taxes for us.
 
2010-04-21 01:10:52 PM  
Jha: It's ok, Obama will do all of our taxes for us.

Funny that you should say that. One of his proposals during the campaign was to have the IRS pre-fill your tax returns with the information that they gather already so that you would spend less time completing your taxes. They would send you the pre-filled tax booklet and you would just fill in the missing data.
 
2010-04-21 01:58:41 PM  
Jobber8742: Use to work there, and my impression was that your tax pro's knowledge would be hit or miss. I can tell you that H&R requires extensive tax training to maintain your certifications. I also found that when looking at someone who prepared their own's return, they were wrong almost every time. The majority of the time it'd be them giving themselves a credit they weren't actually aloud to take. Sometimes we'd find a credit they missed though, that made them quite happy. I thought our prices were kind of high, but they're cheaper than the other commercial competitors.

So did I. Interesting gig. Learned a lot that helped me in other parts of my career. Learned to despise the Earned Income Credit and the 40% slime that took it illegally.

The other business practice I hated were the Refund Anticipation Loans. Just wait people. The charge just isn't worth it.
 
2010-04-21 02:08:40 PM  
Another Government Employee: Jobber8742: Use to work there, and my impression was that your tax pro's knowledge would be hit or miss. I can tell you that H&R requires extensive tax training to maintain your certifications. I also found that when looking at someone who prepared their own's return, they were wrong almost every time. The majority of the time it'd be them giving themselves a credit they weren't actually aloud to take. Sometimes we'd find a credit they missed though, that made them quite happy. I thought our prices were kind of high, but they're cheaper than the other commercial competitors.

So did I. Interesting gig. Learned a lot that helped me in other parts of my career. Learned to despise the Earned Income Credit and the 40% slime that took it illegally.

The other business practice I hated were the Refund Anticipation Loans. Just wait people. The charge just isn't worth it.


This....and that.

All refundable credits are the debil and open to fraud and abuse. The RAL is a goddamn scam. The IRS will get your direct deposit to you within 10 business days. For free.
 
2010-04-21 02:09:08 PM  
H&R Block revenues down this year on news that people don't need to use outsourced Indian labor to do their taxes

/ftfy
 
2010-04-21 02:10:30 PM  
Fo Shiz: H&R Block revenues down this year on news that people don't need to use outsourced Indian labor to do their taxes

/ftfy


Source (pops):
Link (new window)
 
2010-04-21 02:14:15 PM  
We used H&R Block and found a retired CPA who wanted a little extra income and no hassles. He was awesome and well worth the $300. Then he really did retire and we got a young guy that basically read the program to us which is the exact thing that Turbo Tax does so we stopped.

As a side note, the kitchen designer we used at Home Depot was a retired architect.

The Florida retirees do come with some benefits.
 
2010-04-21 02:22:21 PM  
Another Government Employee: Jobber8742: Use to work there, and my impression was that your tax pro's knowledge would be hit or miss. I can tell you that H&R requires extensive tax training to maintain your certifications. I also found that when looking at someone who prepared their own's return, they were wrong almost every time. The majority of the time it'd be them giving themselves a credit they weren't actually aloud to take. Sometimes we'd find a credit they missed though, that made them quite happy. I thought our prices were kind of high, but they're cheaper than the other commercial competitors.

So did I. Interesting gig. Learned a lot that helped me in other parts of my career. Learned to despise the Earned Income Credit and the 40% slime that took it illegally.

The other business practice I hated were the Refund Anticipation Loans. Just wait people. The charge just isn't worth it.


40% seems a bit high. There were several I suspected were that were fraudulently trying to maximize their EIC though. All I could do is ask the same questions in a different way about 10 times to try to trip them up. I had to turn a few away that were just too obvious, like having a "hair styling" business out of their home, but no receipts, no expenses, and just happened to make exactly the right amount to maximize the EIC, but limit the self-employment taxes. I saw the other day the IRS has set something up for tax pros to report something like that.

I didn't really mind the RALs. I explained to those people that you would be charged whatever amount it was (usually well over $100), just to get your money a couple of weeks early. They made their own choice to take that loan. We did not make any commissions in the loans fees, only on the tax prep fees.
 
2010-04-21 02:24:35 PM  
My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"
 
2010-04-21 02:27:05 PM  
LemSkroob: My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"


You should have filed anyway and sued for malpractice. Anyone that doesn't know that $500K of gain from the sale of the home is excluded from income deserves to have their license revoked.
 
2010-04-21 02:29:47 PM  
The_Six_Fingered_Man: LemSkroob: My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"

You should have filed anyway and sued for malpractice. Anyone that doesn't know that $500K of gain from the sale of the home is excluded from income deserves to have their license revoked.


only if it is your primary residence. Maybe she wasn't clear about it. Or, maybe the dude was just a Palin American.
 
2010-04-21 02:33:33 PM  
Jobber8742: The_Six_Fingered_Man: LemSkroob: My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"

You should have filed anyway and sued for malpractice. Anyone that doesn't know that $500K of gain from the sale of the home is excluded from income deserves to have their license revoked.

only if it is your primary residence. Maybe she wasn't clear about it. Or, maybe the dude was just a Palin American.


I took "sold your house" to mean the primary residence.
 
2010-04-21 02:38:28 PM  
The_Six_Fingered_Man: Jobber8742: The_Six_Fingered_Man: LemSkroob: My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"

You should have filed anyway and sued for malpractice. Anyone that doesn't know that $500K of gain from the sale of the home is excluded from income deserves to have their license revoked.

only if it is your primary residence. Maybe she wasn't clear about it. Or, maybe the dude was just a Palin American.

I took "sold your house" to mean the primary residence.


yep. Primary residence, and there was nowhere near a 500k gain on the house.

H&R guy really wanted her to cut a check to the IRS for half the sale price.
 
2010-04-21 02:41:14 PM  
LemSkroob: The_Six_Fingered_Man: Jobber8742: The_Six_Fingered_Man: LemSkroob: My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"

You should have filed anyway and sued for malpractice. Anyone that doesn't know that $500K of gain from the sale of the home is excluded from income deserves to have their license revoked.

only if it is your primary residence. Maybe she wasn't clear about it. Or, maybe the dude was just a Palin American.

I took "sold your house" to mean the primary residence.

yep. Primary residence, and there was nowhere near a 500k gain on the house.

H&R guy really wanted her to cut a check to the IRS for half the sale price.


Like I said, if you could have afforded it, you should have filed the return he advocated, collected your refund from the government, and sued the living pants off the guy and H&R Block for erroneous advice. You wouldn't have been out anything, since the IRS would have checked to ensure that the gain was reported correctly and issued a check for the refund. You would have just been out some cash for a while.
 
2010-04-21 02:42:37 PM  
Fo Shiz: H&R Block revenues down this year on news that people don't need to use outsourced Indian labor to do their taxes

/ftfy


From The Article:
"PricewaterhouseCoopers and H&R Block have no immediate plans to send tax work overseas."

Also Block sold Option One two years ago so thanks for playing
 
2010-04-21 02:44:05 PM  
stuhayes2010: I made the mistake of using them once. I was shocked to see I was paying someone to basically enter my data into their version of turbo tax. I guess I was expecting some sort of magic tax accountant since they always claim a bigger return.

All I got was screwed out of $200.


THIS! Never Again!
 
2010-04-21 02:46:30 PM  
Couple things...

My dad works for H&R so am getting a kick...

Anyway, the friends and family discount used to be free taxes, last couple of years it was $20 to file. I can't complain about that.

And as for the 'refund anticipation loans', that is a nice racket those companies have going, in some cases it is probably pretty much all the profit they make.
I file electroniclly and have direct deposit, and every year for the last 5 I have had both the federal and state refunds in less than 10 days. Cetainly not worth the fee to have a check in hand when you walk out of the office.
 
2010-04-21 02:50:26 PM  
Jobber8742: The_Six_Fingered_Man: LemSkroob: My wife's H&R story:

agent "Hmm, you sold your house this year. You have to give half that money to the IRS"

my wife: "give me back my paperwork, i'm leaving"

You should have filed anyway and sued for malpractice. Anyone that doesn't know that $500K of gain from the sale of the home is excluded from income deserves to have their license revoked.

only if it is your primary residence. Maybe she wasn't clear about it. Or, maybe the dude was just a Palin Obama American.


FTFY
 
2010-04-21 03:11:54 PM  
I like TaxCut better than TurboTax

One day I hope to have enough income to need the pros
 
2010-04-21 03:17:01 PM  
Had mine done for the second year in a row by someone else. It's not rocket science to do taxes but it saved me spending several hours filling out shiat plus paying TurboTax $30-40 anyway. She sat us down and told us about great deals we could get from the government for new appliances, asked good questions, told us she'd file early for the money we were owed and late for the money we didn't owe.

You know, say what you will about the Jews and banking and accounting (yes I'm stereotyping), but from my personal experience they do a great job with tax returns.
 
2010-04-21 03:18:31 PM  
Not surprised with this news. They charged me an extra fee to report about $6 in dividends, which cost more than the dividend (think it was about $8 fee). I've used Turbo Tax or online programs ever since.

Agree with folks who feel that all they do is enter your info; I didn't feel like I was consulting an "expert".

I see no reason why the IRS doesn't have their own free online tax prep program for relatively simple filers. The IRS is already getting enough info to complete 95% of my taxes. There should be no need to use paid software or service for average folks with a job, mortgage, and a few deductions. I can see that a business owner could get more complex.
 
2010-04-21 03:24:32 PM  
stewbert: Not surprised with this news. They charged me an extra fee to report about $6 in dividends, which cost more than the dividend (think it was about $8 fee). I've used Turbo Tax or online programs ever since.

Agree with folks who feel that all they do is enter your info; I didn't feel like I was consulting an "expert".

I see no reason why the IRS doesn't have their own free online tax prep program for relatively simple filers. The IRS is already getting enough info to complete 95% of my taxes. There should be no need to use paid software or service for average folks with a job, mortgage, and a few deductions. I can see that a business owner could get more complex.


This. They should send us paperwork saying you owe this much, and you can enter your deductions and be done.
 
2010-04-21 03:28:12 PM  
relaxitsjustme: One day I hope to have enough income writeoffs, shelters, loopholes and deductions to need the pros

FTFY.
 
2010-04-21 03:31:21 PM  
Turbo Tax, FTW.

I would hate to do it the old fashioned way on paper. My Dad starting using Turbo Tax some time in the late 90s. Before that, he would spend an entire weekend in the den, in a pissed off mood.

Side note:

Not too far from my house there was one of those tax prep places in a strip mall.....just a bunch of cheap furniture and cubicles, and they had one of the employees stand outside wearing a Statue of Liberty costume. Yeesh.
 
2010-04-21 03:34:12 PM  
If you have a complex situation like investments and rental properties, I can see having them done by a pro at least once. But really, subsequent years should be done the same way, and you can usually just use the old returns as a model.

One time, the first year we filed together, my wife and I paid a retired accountant that her parents use every year. We did this since we were newly filing together, she worked in MI, I worked in MA and MI and I also got unemployment in between and I also owed city of Detroit tax. (Lot going on.)

All he did was enter crap into Turbo Tax and advise us on how we could take credits that we *technically* probably shouldn't have been able to do (which I ended up having to pay back due to not meeting the time requirement for moving deductions). When it came time for the real difficult stuff he had no clue. He was just doing everything on the fly so I basically showed him how I did the MA one the prior year and he went with that.

The mystery is why her parents pay someone every year when I know their tax situation hasn't changed in about a decade.
 
2010-04-21 03:37:00 PM  
If you need software or help, use Turbo Tax.
 
2010-04-21 03:37:01 PM  
Jobber8742: Another Government Employee: Jobber8742: Use to work there, and my impression was that your tax pro's knowledge would be hit or miss. I can tell you that H&R requires extensive tax training to maintain your certifications. I also found that when looking at someone who prepared their own's return, they were wrong almost every time. The majority of the time it'd be them giving themselves a credit they weren't actually aloud to take. Sometimes we'd find a credit they missed though, that made them quite happy. I thought our prices were kind of high, but they're cheaper than the other commercial competitors.

So did I. Interesting gig. Learned a lot that helped me in other parts of my career. Learned to despise the Earned Income Credit and the 40% slime that took it illegally.

The other business practice I hated were the Refund Anticipation Loans. Just wait people. The charge just isn't worth it.

40% seems a bit high. There were several I suspected were that were fraudulently trying to maximize their EIC though. All I could do is ask the same questions in a different way about 10 times to try to trip them up. I had to turn a few away that were just too obvious, like having a "hair styling" business out of their home, but no receipts, no expenses, and just happened to make exactly the right amount to maximize the EIC, but limit the self-employment taxes. I saw the other day the IRS has set something up for tax pros to report something like that.

I didn't really mind the RALs. I explained to those people that you would be charged whatever amount it was (usually well over $100), just to get your money a couple of weeks early. They made their own choice to take that loan. We did not make any commissions in the loans fees, only on the tax prep fees.


When they first started, the preparers got commissions on the RALs. There was a lawsuit and the practice stopped.

As far as the EIC filers, I could count on 30-40 single men in the first week of February claiming they had a qualifying child they supported for the year and one small W-2. After all was said and done, they would take home $2-4000 (depending on filing years credits). This was sometimes more income than the W-2 had on it. Thieves.
 
2010-04-21 03:49:10 PM  
echocamp: The Florida retirees do come with some benefits.

Retirees With Benefits, starring Betty White only on Pay Per View.
 
2010-04-21 03:49:36 PM  
Another Government Employee: When they first started, the preparers got commissions on the RALs. There was a lawsuit and the practice stopped.

As far as the EIC filers, I could count on 30-40 single men in the first week of February claiming they had a qualifying child they supported for the year and one small W-2. After all was said and done, they would take home $2-4000 (depending on filing years credits). This was sometimes more income than the W-2 had on it. Thieves.


Yeah, I guess we had a lot of that going on. A parent claiming the child when the other one probably should have. There was really nothing you could do if they lied about the kid being with them I guess. I'm not too much of a fan of the EIC. I understand it's purpose, but it's the #1 fraudulently claimed credit. I guess that's why the IRS audits those returns quite regularly.

/From your SN, it looks like we have the same employer again. H&R Block must be a stepping stone for government employees.
 
2010-04-21 04:15:42 PM  
I primarily use Turbo Tax but last year I went into H&R to amend a state tax filing for my then fiancee. Her state withholdings where screwed up by her employer because she moved between states. I was happy to have the nice lady there make the calls to the IRS to sort it out and fill out the amended return.

/and right back to TurboTax this year, piece of cake putting our numbers together
 
2010-04-21 04:20:33 PM  
Feh, I use their online dealy every year. Free federal return, $30 for state, and the software is almost identical to TurboTax.
 
2010-04-21 04:21:39 PM  
Also this year they kicked in a $10 Amazon gift card, so really only $20 spent on filing for me. YMMV if you don't grocery shop at Amazon, though.
 
2010-04-21 04:52:41 PM  
Maybe they need to change their brand. I saw a place several years ago in Memphis called "Mo Better Taxes"

That sounds a lot more trustworthy to me than H&R Block.
 
Displayed 50 of 62 comments

First | « | 1 | 2 | » | Last | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
Advertisement
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report