Image source: accountingtoday.com
H&R Block is a tax system that has over 120 000 tax professionals to help in the preparation of tax returns. It has a web option to provide a do-it-yourself option for individuals to file tax returns based on the current tax code. The software ensures no errors are made when filling the returns.
The H&R Block has been a tax leader in the US and continues to grow. Let’s look at the pros and cons of using this platform.
Pros:
**1. Professional support: H&R Block offers professional support and you can chat or consult with the tax preparer in case of issues when filling out the return. **
**2. Online services: **Although there are many H&R Block offices across the country, you can use the online tax software which offers professional assistance and guidance on filing the returns.
**3. Free filing option: The free filing option of H&R Block is more useful than that of other programs. It enables individuals to take advantage of home mortgage interest and earn income credit deductions. **
**4. Clarification of tax laws: **A knowledgeable tax professional can help in clarifying the tax laws and apply them in your situation to avoid any errors.
5. Ease of use: The online version of the H&R Block is easy to use. You can easily import the W-2 form and also input data with much ease.
**6. Peace of mind: The services are offered at the H&R Block tax office and you get a guarantee of IRS certified and tested Enrolled agents to help in tax issues especially when an error is committed. **
**7. Pro review: H&R gives an option to seek tax pro review services at an extra cost before you submit your return. **
**8. Easy navigation: H&R Block platform is designed in such a way the users can easily navigate through the menu at the top making it easy to backtrack and correct any errors. **
9. Accuracy check: The program runs an accuracy check to scan for any errors and any missed opportunities before submitting the return. This option is not available on other tax platforms.** **
**10. Maximum refund guarantee: **H&R Block offers a refund advance when you have met a certain refund threshold from all in-person tax return preparation.
Cons:
**1. Regulations: Due to regulatory scrutiny, H&R Block cannot continue to offer refund anticipation loans which is a source of revenue to the company. **
**2. Competition: H&R Block faces a lot of competition from the online Intuit providers which operate the TurboTax franchise and other emerging competitors like the Liberty Tax. **
**3. Not the best platform: **Although you can get the support, it is not the best platform if you need some explanations while filing the returns. The platform is not good at explaining some terms.
**4. Higher-end businesses: The RSM McGladrey which provides consultancy and tax services to medium size businesses has been facing a lot of challenges making H&R Block reduce its revenues. **
**5. Seasonal: **There aren’t many opportunities to move up in the company outside the tax season. You have to work for long hours during tax season.
**6. Temporary employment: **There are seasonal employment opportunities at the H&R Block where new people are hired every tax season.
**7. Low-Priced plan: The free and low price tax plan package can’t handle complex tax issues. It is most suitable for individuals who are preparing their own taxes. **
**8. Additional services at a fee: **If you want the services of a tax professional, you have to pay extra for the review of returns. An additional $19.99 fee is needed if you require an audit report.
**9. Design issues: The H&R Block software has design issues making it less intuitive like the Turbo Tax. **
**10. Limited guide: **Compared to TurboTax, H&R Block offers a limited tax guide to users. It only has a few options of getting you through the tax return.