John Waggoner
USA Today
Up to 600,000 tax returns filed by H&R Block could be delayed by up to six weeks, according to the Internal Revenue Service.
The problem: Form 8863, which you must fill out to get the student tax credit. The credit -- which reduces your tax bill dollar for dollar -- is equal to 100% of the first $2,000 of qualified expenses and 25% of expenses over $2,000. Maximum is $2,500.
In previous years, preparers could leave a field blank to indicate "no." This year, they have to enter "n." If they didn't, the forms get delayed.
About 10% of the 6.6 million returns filed with form 8863 are affected, the IRS says. The government tax agency is helping to reduce wait time, according to Marketwatch.com.
The Kansas City Business Journal reported that the company prepared 22.2 million tax returns through April 18 of 2012, a 4.5% year-over-year gain.
Shares of the company, based in Kansas City, are up 1.15% in afternoon trading to $27.66.
USA TODAY has calls out for comment to the IRS and H&R Block.
The Associated Press