Experts Say 2011 Tax Day More Confusing Than Ever
K2's Ophelia Young reports, firstname.lastname@example.org:
We are two weeks away from tax day. If you haven't filed yet, experts are saying you might need help. This year's tax returns are stumping many people. H&R Block says its mainly due to late action from the IRS and Congress.
"IRS has been dragging our feet on having the forms available," H&R Block Office Manager Rodney Raleigh said. "Also, this is the first year that the first-time home buyer credit was available for 2008."
And those are just two reasons filing taxes this year required more work. Other reasons include that 40 tax cuts were signed into law in December when, according to H&R Block, they should have been signed back in the Summer.
"The money is okay, it's just that (people) are getting their refunds much later," Raleigh said. "If they have one of those forms, they get it much later this year than they did last year."
Today the White House released a tax calculator online. H&R Block says it's their first time doing so, and it's probably in response to the confusion.
"It is specifically targeted at the tax laws that got extended in December," Raleigh said.
With all the new laws and some old ones taking effect this year, tax experts are saying that filing is harder and more confusing than ever. So especially this year, they're recommending that tax filers not do it alone.
"Everything changes year to year so I just have it done (at H&R Block) and it's a lot easier for me," said H&R Block customer Dan Reedy.
"I think that some of the old things have changed and there's new ones and it gets confusing," said another H&R Block customer Karen McConnell. McConnell says she normally files her taxes alone...but not this year.
H&R Block says they've gotten more customers this year than in previous years, and that even those filing by themselves are calling them for help. If you haven't filed yet, the good news is, this year you have three more days than usual, due to a holiday in Washington D.C.