A Second Look® at Previous Tax Returns Could Mean A Larger Tax Refund

Jan 15, 2013, 13:48 ET from H&R Block

KANSAS CITY, Mo., Jan. 15, 2013 /PRNewswire/ -- Given the fact the IRS won't accept 2012 tax returns until Jan. 30, taxpayers can use the first weeks of January 2013 to go three years back to find possibly overlooked tax breaks with a Second Look®.

Starting Jan. 2 through April 30 at participating H&R Block tax offices, tax filers can receive a free Second Look® review of their 2009, 2010 and 2011 income tax returns. This review is designed to ensure taxpayers received the maximum refund possible and to help them recover any hard-earned money that might have been left on the table.

"Because the IRS provides taxpayers up to three years to file amended returns, clients can take advantage of a free Second Look® by an H&R Block tax professional on one or all three years and fix past mistakes," said Roland Sabates, tax research manager at The Tax Institute at H&R Block. "For many taxpayers, there is money hiding in a past tax return and it won't find itself."

Unfortunately, not all tax returns are prepared accurately and some mistakes can lead to overpayment. H&R Block's Second Look® provides a professional review of the original tax return and advice on what to do if variances are found.

Second Look reviews often reveal many common tax mistakes, including:

  • Missed education credits: The Tuition and Fees Deduction provides a reduction in taxable income for the American Opportunity Credit and Lifetime Learning Credit.
  • Inaccurate filing status: For some families, the correct filing status for married couples can make them eligible for more tax breaks and a larger tax refund.
  • Overlooked Earned Income Tax Credit: Low-income workers may be eligible for the Earned Income Tax Credit, depending on marital status and family size.

Taxpayers who want to take advantage of the free Second Look® offer can find a participating H&R Block office by visiting www.hrblock.com.