Do you trust H & R Block to do your taxes?

Are you pressured to divert $300 of your tax returns into starting a IRA investment account? Are you aware of all the hidden fees, low interest rates etc etc? What is your opinion or personal experience with this matter please.

Be aware that H & R Block is facing two lawsuits concerning its fast track IRAs

H&R Block employees are not paid for selling an IRA so I don't see why anyone would pressure you. Their savings account is paying a much higher rate than the local banks and there is no fee to open an account.

H&R is attempting to build a banking relationship with people who do not have a checking account or who cannot get a checking account. Most of these people pay huge fees just to have their paychecks cashed and by having the emerald card they can have their paycheck directly deposited onto the card and not have to pay. The card is like a debit card they can use anywhere mastercard is used. Yes, there are fees associated with the card but they are much less than check cashing fees and helps build credit for the customer. The fees are not hidden and you can go to their website and see all the fees.

Also, if you keep 300 in the savings account you can borrow against that during the year at a rate much lower than a pay day loan.

The service is not for everyone but does help the person whof finds themselve living paycheck to paycheck and having no bank to help them for whatever reason.

Sometimes putting money into an IRA can get you a larger return due to the contribution be tax free. You will still have your money in the IRA and get a larger refund.

Liberty is having some legal troubles of it's own.
http://www.masnet.org/news.asp?id=4767

Nope; they screwed me over rawly many years ago and never went back

I switched to Jackson Hewitt and then i started doing my own taxes using Turbo Tax
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Nope, and I work for Liberty Tax

Hey Rush! I work for Liberty Tax too! And I used to work for H&R Block. Need I say anymore.

Because of all the laxity in those instant loans, and rapid refunds, over the last few years and the banks getting worked over real good. .. . well, this year it is very difficult for the client to pass the bank criteiria to actually get any of those loans.

BUT the bank we are using doesn't charge the client high interest rates, and if the customer gets denied the rapid refund loan or the refund anticipation loan, the charges are removed by the bank, except for a $30 processing fee for reviewing the application, collecting the money from the IRS and printing the clients check out in our office and getting it to the client as fast as possible.

I am really pleased that I switched to Liberty Tax. The clients are treated better and the bank isn't ripping them off.

And of course H&R Block are trying to get people to put money in the bank to get the Saver's Credit... and that really isn't such a bad idea. The US Savings Rate is in the minus right now. BUT, and this is a BIG BUT. . . H&R Block owns the bank that they want you to put the money in.. . .and then there is a charge for opening up the savings account. .. . Give me a break!

The client could just go to the bank and open a savings account. What Bank charges you for opening a savings account?

Yes there are all kinds of fees buried into the H&R Block System, but most people, at least the clients I had, didn't get suckered in. NOPE!

And let's talk about the Peace of Mind Policy! Where you pay for an extra insurance policy to H&R Block so that they will back you up if you get into trouble with the IRS.

Well, Liberty provides that as part of the service to begin with! You don't pay extra for Liberty People to do their job right and to be there in case of trouble! NOPE! It is included in the regular fee. You don't need to pay extra for them to back up your tax return as long as you told the truth.

And if you did buy the Peace of Mind Policy at H&R Block, well, it is only good if you told the them the truth.

I am sure you know that the IRA is one of the very important investments of your lifetime. So be slow and invest some time for doing reasonable research! Personally, I wouldn't trust the H&R Block IRA investment offer. This is just one way to rip off your money. First thing, you need make sure is "if your investment is insured up to some amount", in case of bankruptcy etc.

H&R Block has many good seasoned tax preparers and many bad ones! As you mentioned their financial and tax service have lots of hidden fees that some of the tax preparers can't even explain to you. So educate yourself first, then you can make a good decision. Good Luck.

That is a good question ...Thanks I once patronized them, now I go to the free ones i.e. AARP