(Photo: Adam Gerik for USA TODAY)
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 833 are affected, the IRS says. The government tax agency is helping to speed reduce wait time, according to Marketwatch.com.
Shares in Kansas City-based H&R Block are up 1.15% in afternoon trading to $27.66.