Taxes: How much would H&R Block charge, and how quick would I get the refund?

[Planterz]

So here's the deal:

I'm expecting a combined (Fed and State) refund of $1600 and change. A circumstance has arisen and I could really use this money NOW. I can easily do my taxes myself, but I'd rather not wait a month for the refunds. I'd be filing with 1040EZ/AZ140EZ, so it's not like it's a terribly involved tax return, and this is how I've always filed, so I've never dealt with a firm like H&R Block before.

So how much would they charge me, how quickly do they get me the refund, and how big a chunk of the refund do they take? I tried looking online and couldn't find squat; I tried calling them and they said they'd have to look at my individual case before giving me that kind of answer.

 

[DaveH]

Approximately $150 upfront for a straightforward return filed electronically.

Your refund would probably take somewhere between 2 - 6 weeks.

Some states have outlawed tax return loans. YMMV.

 

[L6steel]

Some advice from an almost old fart, just file electronically yourself and be patient. You'll get the check before you know it and when you do, instead of blowing it on something, you can use it more wisely.
I know ya want it yesterday and ya wanna buy that gun or motorcycle or car today. Maybe down the road you'll find a better deal or a nicer what ever you're wanting to buy!

 

[Planterz]

I know ya want it yesterday and ya wanna buy that gun or motorcycle or car today. Maybe down the road you'll find a better deal or a nicer what ever you're wanting to buy!

My bike, my only transportation, grew legs and pedaled off on its own last night. I've been wanting a new one for a while, but now I'm forced to buy a new one 3-4 months ahead of schedule. :grumpy:

 

[David in FL]

Go pick yourself up a copy of Taxcut software at your neighborhood Staples/Office Depot. It's the same stuff that Block uses. You can file electronically and will have your cash in the same time as you would have gotten it from them, unless you take a refund anticipation loan (RAL) from them. I wouldn't recommend that unless you're gonna die without the money NOW.

Doing it yourself, you'll save $150 and will still have the refund in a couple of weeks. The days of 2 month + waits are long gone.

You can do this!

 

[WA Martin]

You can file it yourself online. I think the IRS web-site has links to people who agree to do free filing for people. H&R Block is one of them although you don't get to use the software that asks all the questions about deductions etc unless you pay the premium. If you only need to do the EZ then you don't need the questions asked. I did it a few years ago before I had a mortgage, etc and it worked just fine. Of course you will start getting all the spam from H&R but ...

 

[ratstuph]

I have used TaxACT online for the last few years. It is very quick, and while annoying, fairly easy. They charge you a fee, but it is more if you agree to deduct the fee from your refund. So you will need a CC, to avoid that. I got the state refund in days, and the fed in a couple of weeks.
all da best,
rats...

 

[Gollnick]

You can file it yourself online.

Exactly, especially for 1040EZ. The IRS WANTs you to file online. It's easier for them to get your data in electronic format since the first thing they do with paper returns in enter them into the computer anyway. If your adjusted gross income for 2007 is less than $54,000 (which means gross income of less than about $60,000), you can file online for free.
http://www.irs.gov/efile/article/0,,id=118986,00.html

By the way, you shoud NOT be getting a $1600 refund, especially if you've had no major change since last year. What this means is that you've loaned the government $1600 interest-free for the last year. You lost about $80 in interest this way.

It is a falacy -- and all to common -- that a tax refund is the government giving you free money. NO! It is the government giving you back your own money (hence the term "refund").

If your refund is more than about $240, then you need to adjust your withholding. In fact, you may want to adjust for even a smaller refund. If you really want free money from the government, then you want to end up OWEING a small amount on your income tax -- not so much that you have to pay a penalty. This means that you borrowed money from the government at no interest.

You, Mr. Planterz, with your $1600 refund, could have had an extra $133 in your pocket every month last year if you'd just taken a few minutes to ammend your W4.

 

[glockman99]

I used Turbo-Tax online to file mine. My refund was in my bank in about a week, and the total cost was about $45, and took me about 1/2 hour total time to file.

 

[Planterz]

By the way, you shoud NOT be getting a $1600 refund,

I know. I owed the previous year, and overcompensated on my W4s. I've already taken the steps to correct this for next year. OTOH, if I had that extra $133/month in my pocket, I'd probably have squandered it. Not the wisest savings plan, but I'm working on that too.

I'll just be e-filing like always. I got my immediate money situation taken care of (thanks Dad) so I'm not in desperate need of quick cash. I think I'll be selling off a couple of dust-collectors in my balisong collection though.

 

[longbeachguy]

H&R doesn't charge you a percentage of your refund, just a flat fee. Based on your description, probably about $150-$200.

 

[Mike G]

I have used www.taxactonline.com for several years, and it is recommended by the IRS.

I have a fairly complicated return, and it usually only takes me about an hour and a half to do the chore, and any refund is direct deposited in less than two weeks.

They charge $9.99 for the federal return, and another $7.00 for doing the state return if you file online. If you want to print the return and mail it in, you can. (But why?)

One nice thing I like is that I don't have to buy new software every year, and it asks questions to see what forms you need, and it automatically picks the 1040, 1040A, ect.

Because of the ease of this software, I do ours and my daughters returns, and even my C.P.A. mother now uses it over Turbo Tax, or doing it longhand.

I usually get a refund, but I do agree with Chuck; make sure you have the proper amount witheld so you aren't loaning the government your hard earned money.

EDIT: The fees are for the deluxe return. You can file and do your taxes for free using the standard edition.