Last Chance Approaches to Claim $950 Million in 2012 Tax Refunds
More than 1 million taxpayers nationwide will lose potential refunds if they don’t file by April 18
April 18 is not just the deadline to file 2015 tax returns. It is also the last chance for taxpayers to claim a refund for 2012. The IRS estimates more than 1 million taxpayers nationwide could claim more than $950 million in refunds for 2012, an average of $916 per tax return. If they do not file by April 18, they forfeit their 2012 refund. H&R Block (NYSE: HRB), the world’s largest consumer tax services provider, also offers a free Second Look to taxpayers who may have left money on the table in their 2012, 2013, 2014 or even their 2015 returns.
“Taxpayers can leave money on the table when they have a life change and don’t know how it impacts their tax situation. But taxpayers also miss out on refunds simply by not filing a return,” said Kathy Collins, H&R Block’s chief marketing officer. “Even if a taxpayer doesn’t have to file a return, they still may be entitled to a refund.”
Non-filers could miss thousands of dollars in refunds
One in five eligible taxpayers miss a potential earned income tax credit worth up to $6,242. Millions of workers miss this credit because they are not required, and decline, to file. But an eligible person can still get the credit even if they do not owe and have not paid income taxes. The only way for them to claim this credit is to file a tax return.
“The tax return is the single biggest financial event of the year for many taxpayers, but more than a million of them missed it in 2012,” said Collins. “Fortunately, they still have a couple more weeks left to file their 2012 return and get their refunds.”
A Second Look for those who filed
Those who did file a tax return also may have overlooked tax benefits. H&R Block studies have shown that when taxpayers prepare their own returns, many of them file with inaccuracies. But it’s not too late for taxpayers who left money on the table since 2012 to get that money back.
“With a free Second Look, our 80,000 tax professionals, who receive the most in-depth training in the industry, can find money others left behind or give taxpayers the assurance they’ve left nothing on the table,” said Collins.
Taxpayers who prepared their returns themselves or had others prepare them can visit any of H&R Block’s approximately 10,000 U.S. offices for a free review of the three prior year returns. Those who already filed a 2015 return with someone else can also bring in their 2015 return for the free review. Taxpayers can see if a Second Look is right for them with a free online assessment. To file a 2012 return or amend a previous year’s return, taxpayers may schedule an appointment online or by calling 1-800-HRBLOCK.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is the world's largest consumer tax services provider, with revenues of $3.1 billion in fiscal year 2015. More than 680 million tax returns have been prepared worldwide by and through H&R Block since 1955, including 24.2 million tax returns in fiscal year 2015. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&R Block tax software products. H&R Block also offers adjacent Tax Plus products and services. For more information, visit the H&R Block Newsroom at http://newsroom.hrblock.com/.