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HRB Products Updated /36 Questions And Answers (A+)
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HRB Products Updated /36 Questions And Answers (A+)
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HRB Products Updated 2023-2024 /36 Questions AndAnswers (A+)
Quiz :Second Look Review - √Answer :--thorough, professional review of non-
Block prepared current TY and 3 prior TYs' returns
--look for missed deductions and certify that return is accurate or amend to get
it right
--the matched or amended return is certified and covered by HRB guarantee
Quiz :Second look: benefits - √Answer :--find money due to mistakes or
missed opportunities
--accurate return covered by HRB guarantee
--confidence in return's accuracy
Quiz :Second look: best practices - √Answer :--tell a success story
--complete Second Look reviews in BlockWorks
--ask every new client to bring in last year's tax return and this year's
documents
--ask every new client if there was anything that concerned them about last
year's return
--schedule follow up Second Look appointment
Quiz :Second look: need to amend return - √Answer :--discovering the error
before the IRS will limit the penalties and interest charged
, Quiz :Second look: matched return, why HRB? - √Answer :--e-file with HRB -->
receive notification/ verification that IRS received/ accepted return, and can
receive refund in 8-21 days
Quiz :Second look: why pay the price? - √Answer :--to gain any additional
refund due plus interest from IRS (net should be greater than Second Look
cost)
Quiz :Refund Transfer - √Answer :--tax refund-related deposit product
--not a loan
--enables clients with an anticipated tax refund to conveniently pay their tax
prep and related fees using their tax refund
Quiz :Refund Transfer: benefits - √Answer :--convenience: pay tax prep fees
out of refund
--security: refund deposited in secure Bofl bank account with multiple
disbursement options
--savings: select Emerald Card or Direct Deposit as disbursement option to
avoid check-cashing fees
--speed: Emerald Card means access sooner than with a paper check mailed
from IRS; also accessible for unbanked clients
--notification: via email address when Refund Transfer is completed
Quiz :Refund Transfer: cost - √Answer :$39.95 for federal refund transfer
(includes $13 state refund transfer at no additional cost; must take a federal RT
in order to take a state RT)
Quiz :Refund Transfer: qualifying - √Answer :--must have Refund Transfer
funds of at least $1 after tax prep and related fees are deducted
Quiz :Refund Transfer: timeline - √Answer :--available until IRS stops
accepting e-filed returns (c. 10/15)
--RT funds are typically available within 21 business days of IRS acceptance of
e-filed return
Quiz :Refund Transfer: disbursements - √Answer :$ dispersed after tax prep,
related fees are deducted
1) direct deposit to Emerald Card
2) direct deposit to client's bank account (must be valid bank account with
client listed as owner)
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