H&R Block Offers Help to Individuals and Families Who Receive IRS Letters Explaining Unclaimed Eligible Credits for 2021 Tax Return

Rhea-AI Summary

H&R Block has announced the IRS’s distribution of letters to nine million taxpayers about potential eligibility for unclaimed tax credits. These letters encourage individuals not typically required to file tax returns to consider filing for 2021, which may allow access to credits including the Recovery Rebate, Child Tax, and Earned Income Tax credits, expanded under the 2021 American Rescue Plan Act. Taxpayers seeking assistance can consult with H&R Block tax professionals to navigate the filing process and maximize their potential refunds.

Positive

• Notification to nine million taxpayers about unclaimed tax credits could increase customer engagement and tax preparation services.
• Encouragement to file 2021 tax returns may lead to significant tax credits for eligible individuals, potentially driving higher business volumes for H&R Block.

Negative

• None.

Letters notify taxpayers of extended IRS deadline for unclaimed tax credits

KANSAS CITY, Mo., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Following the Internal Revenue Service’s distribution of letters to nine million individuals and families regarding eligibility for unclaimed tax credits, H&R Block (NYSE: HRB) wants taxpayers to know they can get help to access the credits. The letters will be sent starting this week.

The letters will notify people who normally aren’t required to file tax returns that filing a 2021 return may give them the chance to receive Recovery Rebate, Child Tax and Earned Income tax credits.

Each of these credits was expanded by the 2021 American Rescue Plan Act. Other potential credits include the Child and Dependent Care Credit and a deduction for gifts to charity.

The total refund amount is dependent on each personal situation. To navigate the process of filing their 2021 returns and accessing the credits, taxpayers can get help from an H&R Block tax pro online or in person.

More information about eligibility and how much can be received through a refund is available here. For information specific to each credit, see the articles below on H&R Block’s website.

• Recovery Rebate Credit
• Child Tax Credit
• Earned Income Tax Credit
  

About H&R Block

H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with innovative products like Wave Money, a mobile-first, small-business bank account and bookkeeping solution that manages bookkeeping automatically. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.

FAQ

What is H&R Block's recent announcement regarding unclaimed tax credits?

H&R Block announced the IRS is sending letters to nine million individuals about their eligibility for unclaimed tax credits, encouraging them to file 2021 returns.

How many taxpayers are affected by the IRS notification from H&R Block?

The IRS is notifying nine million individuals and families about potential eligibility for unclaimed tax credits.

What tax credits are mentioned in H&R Block's press release?

The mentioned tax credits include the Recovery Rebate Credit, Child Tax Credit, and Earned Income Tax Credit.

When will the IRS letters regarding unclaimed tax credits be sent out?

The letters regarding unclaimed tax credits will be sent starting this week.

How can taxpayers get assistance with filing for unclaimed tax credits?

Taxpayers can get help from H&R Block tax professionals online or in person to navigate the filing process for unclaimed credits.