Use of H&R Block Second Look

While I normally use Turbotax and/or TaxCut to prepare my returns, my return is unusually complicated this year (2008) due to capital gains and losses. Therefore, I thought I would submit the completed return to a local H&R Block office for a review which they call "Second Look".

Question: Can I select any one from the H&R local office or is there one person assigned to "Second Looks"? When I go online to the H&R Block website and review the qualifications of each of the employees of the local office, I note that one has extensive background in the securities field and is also an Enrolled Agent. It looks like that person would be well qualified to review my return.

Any thoughts?

Reply to
Kadaifi
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I have no idea whether you can choose the person, but I do recall hearing somewhere along the way that you get what you pay for.

A question, though. What about your capital gains/losses was complicated? If it was just trades and you kept good records, it's tedious but not difficult, especially when you're using software.

Reply to
Phil Marti

go to hrblock.com and enter a zip code for "find an office near me." Look for the "Premium" office designation and then find an Enrolled Agent or CPA at that office.

The idea (I believe) is that the preparer will find mistakes and you will either want to pay for an amended return or you will become their client in future years. You can bring in returns from

2005 forward.
Reply to
brew.one

One trade was for units in a partnership which generated some ordinary gain. The partnership provided a sales schedule which included a procedure for calculating how much of the sale should be considered ordinary gain and reported on Form 4797 Part II, line 10 and how much should be considered as capital gain and entered on 1040 Schedule D. They also showed the amount for AMT to be entered on 6251, line 17. It all seems fairly straight forward but never having done it before, I thought I would get someone to check my calculations.

Reply to
Kadaifi

"Kadaifi" wrote

I doubt the "second look" is designed to double check your current year return. It sounds, from the commercials, that you have to have this year's return prepared by them, and they'll then look at prior year's returns "for free", as someone else said, finding errors and talking you into an amended return for a fee.

This program isn't designed to be free, it's a revenue generator for Block.

Reply to
Paul Thomas, CPA

At the Block website it appears that you are not required to use them to do any returns. But they are charging $29 for the service. The site says, among other things,

"Fees apply for Second Look reviews and if you have us prepare a corrected or amended return."

Stu

Reply to
Stuart A. Bronstein

The Second Look is a product for current year returns, whether already filed or not, and returns from 2005-2007 as well. The overwhelming number of clients who request a Second Look (we are told by management) are looking not necessarily for money back, but more so for the peace of mind that the return was prepared correctly. The $29 fee is waived if an amendment is prepared at regular prices. The current advertising shows that errors are found on 4 out of 5 returns we check, though not always for more money back. The product is absolutely designed to drive client base. Those who come to Block are already by definition questioning the preparer of their return, whether it was themselves or someone else. It is the hope that the experience will create a client who will return, and who will speak highly of the process to others.

Reply to
Tyler Franks

$29 eh? Darn. I should have been charging for this all this time. maybe I will in the future. Probably not.

ChEAr$, Harlan Lunsford, EA n LA

Reply to
Harlan Lunsford

"Tyler Franks" wrote

Aren't most people who use Block, prior Block customers?

A huge point missing here is that the Block preparer wasn't there 12 or 24 months ago at the initial interview for the 2007 or 2006 return preparation. They have no clue what was asked by that year's return preparer or what answer was given by the client (and chances are the client doesn't remember either). I also suspect that documentation for items of income and/or expenses/deductions are missing by then.

I ask that new clients bring in the prior year return. In some cases it's in shambles with pages missing, maybe it comes with documentation, maybe not. I rarely look at it from an audit perspective of if there are "mistakes".

I try very hard to not blame the prior year preparer for "mistakes" when I don't have all the facts surrounding that year's return preparation. I have clients who forget to tell me about facts necessary to prepare a complete and/or proper return. From the birth of a child, to the amount and frequency of estimated tax payments, to items of income. And we all have clients who may receive amended 1099's from brokerages who may never tell us about it, or that a decision is made to ~not~ amend the return for the few dollars of tax it may save.

I've got one client right now that we're waiting on the 1099 from the company they work for to verify that it matches the client's records of income. We may very well end up filing that return and the 1099 comes in later for a different amount - if at all. If it comes in at some smaller amount, is that a "mistake" to have prepared the return based on the client's records that report a higher amount?

"Mistakes"? It may be looked at in that light 12 or 24 months down the road by someone who isn't party to the current communications between the client and this year's preparer.

And if your job is to "land the customer" by finding a "mistake" in a prior year return, then you'll find a mistake. Your commission is dependent on you doing so.

Reply to
Paul Thomas, CPA

The 2nd look is a full tax preparation with the results showing agreement or disagreement with the 2005-2008 paper returns that the potential client brings in. Client is charged $29 if the returns match and given the Block standard quarantine on penalties and interest. If the returns disagree, the potential client is advise on the proper course of action. If the client chooses to amend, the $29 is waived and the new client pays for the 1040X. If they choose to walk, they are charged the $29 without any guarantee.

Ron Hickey CPA, EA in NC.

Reply to
Rhickey

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