Wednesday, January 11, 2012

Free Tax Preparation


More than 3,000 Walmart stores nationwide are now offering free preparation of simple tax forms. The nation’s largest retailer has contracted with H&R Block and Jackson-Hewitt to set up kiosks inside its stores where customers can have their tax returns completed by trained preparers. As it is doing in its own retail locations nationwide, H&R Block will offer free preparation of 1040EZ forms at Walmart through February 29th. Block will have kiosks in about 250 Walmart stores. Jackson-Hewitt will provide free prep throughout the tax season at about 2,800 Walmarts, up from 2,000 last year. A spokesman said some of its retail outlets may also offer free 1040EZ prep, but doing so is not companywide policy. About 39% of the total 133 million individual returns filed with the Internal Revenue Service last year were submitted before the end of February. Early filers usually expect a refund. The average refund last year was $2,805, down 2.6% from $2,880 in 2010.  Customers who have their taxes prepared at Walmart will have the usual options for receiving a refund, either direct deposit into a bank account or to a prepaid card, or a mailed check.