{"id":61678,"date":"2023-01-26T08:15:10","date_gmt":"2023-01-26T14:15:10","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/?post_type=newsroom&#038;p=61678"},"modified":"2023-02-28T13:21:22","modified_gmt":"2023-02-28T19:21:22","slug":"new-technology-delivers-refunds-missed-with-turbotax","status":"publish","type":"newsroom","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/newsroom\/financial-confidence\/new-technology-delivers-refunds-missed-with-turbotax\/","title":{"rendered":"H&#038;R Block Introduces Industry-First Artificial Intelligence Technology that Finds Americans Tax Refunds Missed with TurboTax\u00ae"},"content":{"rendered":"\n<p><em>The company\u2019s new feature of its Online DIY product automatically detects additional refunds in last year\u2019s tax returns completed with TurboTax<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Initial models of the new AI-powered technology uncovered millions in additional refunds<\/strong><\/li>\n\n\n\n<li><strong>Automatically searches last year\u2019s TurboTax return when a customer switches and files a return this year using H&amp;R Block\u2019s Online DIY product<\/strong><\/li>\n\n\n\n<li><strong>Models from millions of returns and AI algorithms bring the power of 60,000 tax pros virtually to a single return<\/strong><\/li>\n\n\n\n<li><strong>Customers only pay if they amend their return to claim their missed refunds<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Kansas City, Mo. (Jan. 26, 2023)<\/strong> \u2013 <a href=\"https:\/\/www.hrblock.com\/?campaignid=pr_mcm_pr-newsroom_hrblock_\">H&amp;R Block<\/a> (NYSE: HRB) announces the launch of new artificial intelligence-powered technology that automatically searches customers\u2019 last year TurboTax return for additional refunds when they switch and file a return this year using H&amp;R Block\u2019s Online DIY product. In initial modeling, this industry-first approach identified millions in additional refunds in last year\u2019s returns filed with TurboTax.<\/p>\n\n\n\n<p>\u201cEvery year, we work to get Americans every dollar of their tax refund that they deserve,\u201d said Jeff Jones, H&amp;R Block President and Chief Executive Officer. \u201cNow we\u2019ve taken a proactive approach with breakthrough technology to make sure they received every dollar last year using the competition\u2019s product, too. It\u2019s a game-changer that brings a new level of accuracy and confidence to taxpayers with a simple upload of last year\u2019s TurboTax return.\u201d<\/p>\n\n\n\n<p>Through machine learning models trained with millions of tax returns, AI algorithms, and technology such as optical character recognition, last year\u2019s TurboTax return uploaded by a customer is automatically scanned for additional refunds when they complete a tax return this year using H&amp;R Block\u2019s Online DIY product. The return is then flagged, and the customer is notified. Customers only pay if they choose to file an amended return to claim the past refund amount that was missed.<\/p>\n\n\n\n<p>\u201cOur new technology demonstrates the power and efficiencies artificial intelligence can provide, but it also blends technology with human expertise and care that only H&amp;R Block has delivered for decades,\u201d said Karen Orosco, H&amp;R Block\u2019s President of Global Consumer Tax and Service Delivery. \u201cFor most people, their tax refund is their single largest financial transaction of the year. They can\u2019t afford<\/p>\n\n\n\n<p>to leave any money behind. Now with just a quick upload of last year\u2019s TurboTax return, customers will know if there are additional refunds from their past return. And as the possibility of a recession looms, that\u2019s a major benefit of switching to H&amp;R Block\u2019s Online DIY product this year.\u201d<\/p>\n\n\n\n<p>The new capability builds upon the company\u2019s Second Look product. For nearly 20 years, customers have been able to use the Second Look service, allowing an H&amp;R Block tax pro to conduct a manual review of past returns. While Second Look continues to be available to all H&amp;R Block customers, the new AI-powered technology brings an automated review to Online DIY customers that is free of charge.<\/p>\n\n\n\n<p>H&amp;R Block\u2019s new AI-powered technology is available immediately to all customers who used TurboTax last year and switch to Block\u2019s Online DIY product in 2023.<\/p>\n\n\n\n<p class=\"has-text-align-center\">###<\/p>\n\n\n\n<p><strong>About H&amp;R Block<\/strong><strong><\/strong><\/p>\n\n\n\n<p>H&amp;R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global <a href=\"https:\/\/www.hrblock.com\/\">tax preparation<\/a>&nbsp;services,&nbsp;<a href=\"https:\/\/www.hrblock.com\/financial-services\/\">financial products<\/a>, and&nbsp;<a href=\"https:\/\/www.hrblock.com\/tax-offices\/business-services\/\">small business solutions<\/a>. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, <a href=\"https:\/\/www.sprucemoney.com\/\">Spruce<\/a>. Through <a href=\"https:\/\/www.blockadvisors.com\/\">Block Advisors<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.waveapps.com\/\">Wave<\/a>, the company helps small-business owners thrive with innovative products like Wave Money, a mobile-first, small-business bank account and bookkeeping solution, that manages bookkeeping automatically. For more information, visit <a href=\"https:\/\/www.hrblock.com\/tax-center\/newsroom\/\">H&amp;R Block News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company\u2019s new feature of its Online DIY product automatically detects additional refunds in last year\u2019s tax returns completed with TurboTax Kansas City, Mo. (Jan. 26, 2023) \u2013 H&amp;R Block (NYSE: HRB) announces the launch of new artificial intelligence-powered technology that automatically searches customers\u2019 last year TurboTax return for additional refunds when they switch and [&hellip;]<\/p>\n","protected":false},"author":406,"featured_media":61680,"menu_order":0,"template":"","tags":[19283],"news-categories":[23339],"class_list":["post-61678","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","tag-corporate-news","news-categories-financial-confidence"],"acf":{"post_rest_thumbnail_alt_id":null},"yoast_head":"<title>H&amp;R Block Newsroom | New Technology Delivers Refunds Missed with TurboTax\u00ae<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/newsroom\/around-block\/about-us\/new-technology-delivers-refunds-missed-with-turbotax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"H&amp;R Block Introduces Industry-First Artificial Intelligence Technology that Finds Americans Tax Refunds Missed with TurboTax\u00ae\" \/>\n<meta property=\"og:description\" content=\"The company\u2019s new feature of its Online DIY product automatically detects additional refunds in last year\u2019s tax returns completed with TurboTax Kansas City, Mo. 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