If you’ve watched even five minutes of television in the last two weeks or so, then you’ve likely seen H&R Block’s new commercial offering free tax filing to Americans who didn’t make a ton of money in 2011.
The ad is saturating the airwaves. Heck, last night I saw the commercial five times in less than two hours, and I thought the same thing each time I viewed it: Too good to be true.
Of course, I’m a cynic. And by cynic I mean realist.
Regardless, like many deals that feature the word “free” this one also comes with a string of caveats.
For starters, not just anyone can stroll up to his or her local H&R Block office and expect workers there to file tax papers at no charge. Rather, the promotion is only available to individuals filing a 1040EZ federal form. As you may well know, this is the simplest form out there and can only be used by people who don’t have dependents. What’s more, you can’t use the form if you make more than $100,000 per year, are 65 years or older, or if you are claiming deductions, such as tuition or mortgage interest or charitable contributions.
Another catch is that even if you are filing a 1040EZ, you will have to fork over some cash to have H&R Block file a state income tax form. If you live in Alaska, Florida, Nevada, South Dakota, Texas, Washington, or Wyoming, this is not a big deal since there is no income tax there, but if you reside in the remaining 43 states, then the “free” filing doesn’t apply.
Finally, H&R Block’s promotion is a limited time offer. The deal begins today and ends on February 15, 2012. That means if you are still waiting for W-2 forms or any other important end-of-the-year paperwork, you will need to act fast if you want to take advantage of the free filing offer.