Posted on March 17, 2013 10:24 am

H&R Block Software Glitch To Delay 600,000 U.S. Tax Refunds

from the government-happy-to-keep-your-money-a-while-longer dept.

Tax refunds for about 600,000 taxpayers claiming an education credit will be delayed, the Internal Revenue Service said on Wednesday, citing a software glitch at some tax-preparation companies, including industry leader H&R Block Inc. Refunds may be delayed four to six weeks from mid-February, likely not showing up until late March, the IRS said. … On Tuesday, a Wal-Mart Stores Inc executive said shoppers had cashed about $2.7 billion in tax refund checks at its U.S. stores so far this year. At this point last year, that amount was about $4 billion. The IRS delayed the start of the tax filing season by eight days, to January 30, due to the enactment of tax law changes made to resolve the “fiscal cliff.