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What Tax Filers Need to Know To Get The Best Outcome This Tax Season

1. HRB offers new tax filing options ahead of January 27 launch. 2. Changes to tax laws may benefit HRB clients this season. 3. The company's expertise ensures clients maximize tax refunds. 4. Over 5 million taxpayers switched to HRB last year for superior service. 5. HRB provides a unique free Second Look® tax review for missed credits.

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FAQ

Why Bullish?

The new tax filing features could attract more clients, boosting revenue. Past tax seasons have seen increased demand for HRB's services, positively impacting stock prices.

How important is it?

Significant changes in tax laws can influence client engagements directly impacting HRB's performance.

Why Short Term?

Immediate effects anticipated during tax season. Client acquisition and satisfaction could lead to quick revenue growth.

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HRB
KANSAS CITY, Mo., Jan. 14, 2025 (GLOBE NEWSWIRE) -- With e-file set to open on Jan. 27, H&R Block (NYSE: HRB) is arming taxpayers with the latest information regarding significant changes to tax laws, deductions and credits that could impact individual returns, and the resources needed to minimize tax liabilities and receive their maximum refund - guaranteed. As the pioneer of the tax preparation category 70 years ago, H&R Block is trusted by more than 20 million hardworking Americans each year to ensure the best possible outcome at tax time with less stress by combining the latest technology that enables individuals to file how and when they want with the support of unmatched human expertise backed by the unparalleled expertise of The Tax Institute. “While tax season culminates into one day in April for many Americans, at H&R Block, we work year-round to ensure Americans get to keep every dollar they earned,” said Andy Phillips, Vice President of The Tax Institute at H&R Block. “Comprised of tax attorneys, CPAs, and enrolled agents, The Tax Institute constantly monitors and analyzes federal and state tax code changes to equip our 60,000 tax professionals and DIY products to address each taxpayer’s unique situation, whether from life changes or changing tax laws.” Top Things to Know for Tax Season 2025 1099-K Updates: The reporting threshold for online sales and third-party payment apps has lowered from $20,000 to $5,000, impacting many casual sellers and those with side hustles.1099-DA for Digital Assets: Filers who sell or exchange digital assets should keep detailed records of their transactions. Trading platforms will report that activity on the new Form 1099-DA in 2026.Child Tax Credit: The maximum additional Child Tax Credit has increased to $1,700 per qualifying child.Clean Vehicle Tax Credit: New guidance requires filing Form 8936 if individuals bought a new or used electric vehicle and transferred the credit to the dealer.Natural Disaster Relief: Individuals and business owners may be eligible for certain relief provisions, including those who had disaster-related losses not reimbursed by insurance. “Getting every dollar back matters more than ever, and H&R Block’s expertise and experience eclipses anything available to tax filers, making us uniquely qualified to help clients navigate evolving tax codes, find credits and deductions, and maximize refunds,” said Curtis Campbell, President, Global Consumer Tax & Chief Product Officer, H&R Block. Millions of Americans unknowingly miss out on tax benefits or credits they're entitled to every year, effectively leaving billions of dollars behind. H&R Block offers a free Second Look® tax review to double-check up to three years of prior tax returns for missed credits and deductions. No other company offers this extensive of a review for free.1 Common missed deductions include education credits, Child Tax Credits and Earned Income Tax credits. Additionally, taxpayers can offset gambling winnings with losses. A qualified tax professional can help identify ways to lower taxable income and claim all eligible tax benefits. “Our expertise is matched only by the innovation empowering our clients to get their taxes done with less friction and the tremendous value we build into each of our products and services. Over 5 million taxpayers switched to H&R Block last year because we combine the best technology with human support without hidden fees to help you achieve your maximum refund,” said Campbell. Switching to H&R Block is seamless and easy, and importing your prior year's tax return from another provider takes less than two minutes. New clients can take advantage of the new limited-time Price Match offer, which matches the price individuals paid to their previous tax preparer, up to 50% off H&R Block’s price.2   More Ways to File and Expertise For most Americans, filing taxes is the most significant financial moment of the year—and stressful. H&R Block strives to make filing as easy and convenient as possible by offering more ways to file than any other brand and providing expert support along the way tailored to each unique tax situation and ensure the best possible tax outcome. Assisted: File in as little as one hour with the option to drop off or meet virtually or in-person with one of the more than 60,000 company tax professionals at one of our 9,000 offices—locations in every state and within 5 miles of most Americans.DIY Online: File on your own with H&R Block’s DIY online filing tools, supported by AI Tax Assist and Live Tax Pro Support.DIY Software: Download our award-winning desktop software trusted by millions of Americans for over twenty years. For tax filers who aren’t sure which is best for them, H&R Block provides a Help Me Choose feature that will recommend the best tax prep option based on an individual’s situation and preferences simply by answering a few questions. The MyBlock app is one of the many safe, efficient and convenient ways to work with our tax pros. This year-round tax companion provides an easy way to store tax documents securely, jumpstart a return, chat with a tax pro, book and manage appointments, track a refund, and manage finances, all from a mobile phone or desktop. For those who prefer to prepare their own taxes, H&R Block offers several Do-It-Yourself (DIY) options, including free federal filing for simple returns. In 2024, about 50%, or 3.5 million DIY clients, filed for free with H&R Block. Free3 – Ideal for simple tax situations like filing a 1040 form without complex deductions or investments. It covers unemployment income, earned income credits, and education credits, and student loan interest (1098E) or tuition payment (1098) at no extra charge.Deluxe – Suitable for itemized deductions and slightly more complex tax situations, such as homeowners and those with child and dependent care expenses.Premium – Designed for complex tax situations, including cryptocurrency, stock sales, and rental property income. It provides guidance for additional tax forms and schedules, such as D and E.Self-Employed – Tailored for self-employed individuals, gig workers, freelancers, and independent contractors. It supports tracking and deducting business expenses and calculating self-employment taxes. Getting started is easier than ever with a streamlined onboarding experience, a dynamic product selector, and transparent pricing. Ongoing improvements simplify the filing process, reducing steps and data imports for a smoother experience from start to finish. File On Your Own But Not Alone With H&R Block Deluxe, Premium or Self-Employed editions, H&R Block AI Tax Assist and Live Tax Pro Support are included at no extra charge. AI Tax Assist provides unlimited tax help 24/7 to empower clients to confidently complete their returns from start to finish. DIY clients can ask questions specific to their tax situation, such as how a particular regulation or tax law applies to them and get instant answers without leaving the product flow as they actively work on their tax return.Live Tax Pro Support: While others charge an extra fee for human assistance and reassurance, H&R Block provides unlimited expert help at no charge. Tax pros can be reached from 8 a.m. to 9 p.m. CST Monday through Friday by choosing the icon at the bottom of the Help Center. Beginning Jan. 20th, they are available seven days a week during tax season. Peace of Mind Life events like relationship changes, buying a new home, or stock portfolio gains/losses can complicate your taxes. Adding Tax Pro Review to our online DIY options ensures a knowledgeable tax professional checks your return for every eligible credit and deduction, and to spot errors or omissions. H&R Block guarantees 100% accuracy, satisfaction, no surprises, worry-free audit support, and a maximum refund, whether you prepare taxes with a tax pro, DIY online, or downloadable software. For more information, visit hrblock.com/guarantees. Learn more about H&R Block’s tax preparation services and year-round financial support at hrblock.com. For media assets, visit hrblock.com/tax-center/newsroom or for a downloadable Tax Season 2025 media kit, visit https://www.hrblock.com/tax-center/media-kit/tax-season-2025/. For helpful tips and information, follow us on TikTok, Instagram, and Facebook. 1  At participating offices. Results vary. All tax situations are different. Fees apply if you have us file an amended return. The IRS allows taxpayers to amend returns from the previous three tax years to claim additional refunds to which they are entitled. Applies to individual tax returns only.2  Offer Terms and Conditions: Price Match offer valid from January 6, 2025 to February 15, 2025. At participating locations only. Receive up to 50% off H&R Block’s price to prepare your 2024 personal income tax return. See HRBlock.com/PriceMatch for full terms and conditions.3  H&R Block Free Online is for simple returns only. Not everyone qualifies. All tax situations are different. Additional fees may apply. 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 year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News. H&R Block Contacts:

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