Mar 13, 2013

A software glitch at tax preparer H&R Block (NYSE:HRB) may delay up to 600,000 tax returns.

The glitch — which involved Form 8863 “American Opportunity and Lifetime Learning Credits” — can be vital for students hoping to receive financial aid, reports ABC News.

The error was revealed by the Internal Revenue Service and not by H&R Block. In a statement, the company said, “H&R Block has confirmed with the IRS that there was an issue with a limited number of software company products that affected some tax returns filed between Feb. 14 and 22, 2013. These affected returns included certain education tax credits claimed on Form 8863. H&R Block has worked with the IRS to expedite a solution to this issue for our affected clients.”

Still, the company has not apologized to its customers. This has led to complaints on H&R Block’s Facebook page. Comments include, “They could have sent out a mass email to all of their clients letting us know … that they have a problem and the money is not there,” and “I just can’t believe that nobody said anything. I have been a loyal customer of H&R Block for years. That is going to change. Many of us count on that money.”

http://investorplace.com/2013/03/hr-block-error-could-delay-600k-ta...