H&R Block Debuts Tax Reform Checkup
There have been many changes in the tax reforms. IRS is encouraging everyone to do a quick tax reform checkup. That's why H&R is in the forefront by offering a free tax reform "Checkup service." It's an excellent program that helps you to track whether your tax obligations are smaller or bigger than usual. This will help taxpayers to change their financial or family situations in the next tax season.
There is a lot to do much ground to cover by taxpayers. The current reforms drastically decreased their taxes while increasing their paychecks. It requires taxpayers to check and fix their W4 forms.
A single taxpayer with one withholding allowance, with no children and a salary of $35000 was entitled to a $600 in refunds in 2017 returns. Changes in withholding tables in February saw a paycheck increase of 32$ in March. However, by next year, April the refunds will be 600$.
Kathy Pickering, the executive director of Block's Tax Institute, and vice president of regulatory affairs stated that even if you owe less tax than you are currently about to pay. It's better to know now that you are due for a refund than have it take you by surprise next spring.
What is needed?
Taxpayers need to bring their current paystub, as well as their 2017 tax returns documents to the participating "Checkup service" Block stores.
TaxPlanning - Withholding Checkups