H&R Block Tax services for Crypto can be found on their website. The company has officially announced the service for those people struggling with the IRS notification to crypto users.
The Overview
In addition to its typical cadence of taxpayer correspondence, the IRS has also begun sending roughly 10,000 letters to taxpayers with virtual currency transactions that may have been unreported or misreported, as well as another tranche starting in late September to taxpayers with estimated tax obligations. This is in addition to the 720,000 IRS letter audits, 2 million math-error notices, 3 million underreported income letters, and 13.2 million letters on delinquent accounts and liens and levies that the IRS sends annually. While the cryptocurrency and estimated tax notices may garner extra attention, H&R Block (NYSE: HRB) cautions taxpayers that the volume of IRS letters and notices show that the possibility of needing to interact with the IRS after the April tax filing deadline is much more common than taxpayers realize.
“Some of these notices are really just a courtesy, meant to help taxpayers understand their obligations and stay ahead of the curve. But that doesn’t relieve the taxpayer of the stress and anxiety that receiving an IRS letter can cause. It’s nerve-racking. Plus, some letters do require a response or some action from the taxpayer,” said Andy Phillips, director at The Tax Institute at H&R Block. “Fortunately, not only do we know how to resolve a broad range of tax problems from the simple to the complex, but we also understand what it feels like and can help navigate people through to a solution.”
An experienced H&R Block IRS specialist will help taxpayers file any missing returns, if necessary; prevent or minimize additional tax assessments; reduce or eliminate any tax, penalties, and/or interest owed; and obtain the best possible payment arrangements on any balance owed.
The client starts with a free diagnostic analysis to identify the tax issue, and a tax professional will explain the resolution process. The expert works to resolve the issue with the taxing authority, whether that is the IRS or a state department of revenue. The expert follows up with the client and explains the results and next steps to remain compliant. The client is charged a flat, upfront fee based on the complexity of their tax situation. This eliminates the surprise of hidden fees and price hikes as the issue is being addressed.
“H&R Block cuts through the confusion of receiving an IRS letter, with a free evaluation, and plan to fix it. We’ll put the plan into action until your problem is solved,” said Phillips.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is a global consumer tax services provider. Tax return preparation services are provided by professional tax preparers in approximately 11,000 company-owned and franchise retail tax offices worldwide, and through H&R Block tax software products for the DIY consumer. H&R Block also offers adjacent Tax Plus products and services. In fiscal 2019, H&R Block had annual revenues of $3.1 billion with over 23 million tax returns prepared worldwide.
