Posted on 12/27/2014 12:16:15 AM PST by upchuck
On December 9, business reporter Mark Davis posted an article up on the website of the Kansas City Star headlined “About 25 percent of H&R Block customers will ‘confront’ the Affordable Care Act”; the next day it appeared in the wood pulp version of the newspaper. Davis reported on a meeting in New York where H&R Block, the world’s largest tax services provider, told investor’s “that it sees the potential for significant growth in business thanks to the health care reform commonly called Obamacare.”
Inasmuch as Block bases “customer bills on the complexity of their returns, such as how many and which tax forms are involved,” does this mean that ObamaCare is going to make federal income taxes even more of a headache? For some taxpayers, the answer is yes (italics added):
“We will be charging for them this season,” Macfarlane said of the new tax forms required. “There is pricing opportunity for us here, for sure.” He did not divulge the amount of the fees to avoid tipping off competitors.
Block expects to gain customers from among taxpayers who currently do their taxes themselves […].
Macfarlane said current H&R Block customers and those who “sample” the company in the coming year will be more likely to remain customers because of Block’s skill in handling their first tax experience under the health care reform.
“And that situation will only get more complicated as the next few years unravel,” he said.
(Excerpt) Read more at americanthinker.com ...
This is why we need a flat rate tax system.
I recommend TaxAct. Doesn’t have the bells and whistles that Turbo Tax has, but it will handle 99%+ of tax returns. I’ve used both over the past 20 years, and TaxAct is a great value for the money.
Block’s software isn’t bad, though a couple of years back they “lost” a whole bunch of e-files for both their bricks-and-mortar and software customers which cost them a number customers as the IRS got stuck cleaning up their mess and people formed a sort of angry support group on H & R Block’s Facebook page. They are probably still trying to recover from that, so complex filings to this guy, would seem like the “good” news since unlike the other companies the software is not what drives their profits.
Most people don't pay taxes and just want a refund (plus the subsidy) so for them there are sooo many free ways to file on line. My taxes are so convoluted that every year I just end up using h&r block tax software. For me doing it at home on my computer seems so much easier than carting all my records down to some office and paying a human to do it for me. Also a lot cheaper.
I think the software is just there to allow them to not lose their market share, and as such it is a good deal.
You could qualify for nearly $2000 in benefits for you and your family. We help you connect to government benefit programs and retake command of your day-to-day finances so you can get ahead.
Good for you. I’m proud to say that in the nearly 50 years that I’ve been filing returns, only one time have I paid someone else to do it.
I have been using TaxAct since 2008 and highly recommend it!
Ditto on Tax Act. I’ve used the online version for the past 3 years. Pretty straight forward.
I would like to give a big shout out to our friend CHIEF JUSTICE ROBERTS who single handedly could have killed this and didnt, Thanks chief you are a just another turd in that STEAMING pile we call DC. Looks like your friends in the GOP will be doing the same to the voters who elected and re elected them in november.
For me I tried a private consultant once, and a few years later I tried a walk-in name-brand store front, but every time the hard part was always getting together all the info --which only I could do-- and the calc part ended up being just a small part of the work.
Remember kids, you only have to file income taxes if (someone can prove) you had income.
And some may even be tea-partiers, paging Reverend Al, they are not as IQ challenged as you and the rest of the entire leftist crowd make them out to be!
I heard last year they were not looking forward to sitting on the other side of the table and telling the bad news of Lear-Deader-Care.
I hear from other sources the dread preparers had towards last year.
I can't even imagine what this year will be like.
So, if you are using a tax professional, maybe bringing them a homemade baked good might not be a bad thing to brighten their spirits...
According to Grueber, the architect, Roberts was correct.
Obamacare was designed as a tax but sold as something different.
I think Roberts also knew he would get another crack at the law.
It will be gone by July 17, 2015
Not too many people defending Roberts on this forum, so I’ll join you.
To me, Roberts was also saying that if you don’t like Obamacare, then vote for people that get rid of it - don’t expect us to do your dirty work.
Also, yes, the writing was on the wall regarding the subsidies when Roberts ruled...he may well have figured it was just a matter of time before he got another shot at it...and this time after people got a real taste of it. But one thing...it is a very risky strategy, considering the age of the conservative justices - had one been replaced in the interim, Obamacare would be untouchable.
I can’t disagree your your reasoning and don’t have firm enough grasp on the legal issue he decided within the context of the issue he was deciding
You are correct about the potential dangers and risk. I have pretty much always believed there was far more to the SCOTUS issue than what was superficially showing. Still do......
I think he knew with certainty that the thing would crumble and there would be matters to decide with the crumbling stronger than the specific issue at hand. There are lots of mortal and near mortal wounds that have been bandaged that present opportunities for SCOTUS decision besides the biggie now before the court.
“I recommend TaxAct. Doesn’t have the bells and whistles that Turbo Tax has, but it will handle 99%+ of tax returns. I’ve used both over the past 20 years, and TaxAct is a great value for the money.”
I’ll check it out.
Do you know if it can do rentals and small businesses?
With a flat tax system, which would be considerably simpler than what we've got, you still have to file a return.
I'd much prefer an expense based system like a national sales tax. No forms to file, you'd get all of your paycheck to spend, etc.
Note, I did not say I'm in favor of the Fair Tax. IMHO, the Fair Tax is too complicated. It can't b explained to a LIV in 15 seconds or less. Therefore, it stands little chance of getting passed.
I agree. Income taxes are by definition immoral. If a 100% tax rate equals slavery, then any lesser percentage is merely a matter of degree.
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