I could not find a copy of the e-mail but did find this article on their website:
34 million could owe additional tax if AMT not raised for 2012 income levels
Unless there is legislative action, 34 million taxpayers could be hit with the alternative minimum tax – many for the first time. This could mean that in just two months, taxpayers who had grown accustomed to getting a tax refund could be hit with a hefty tax bill.
http://www.hrblock.com/press/Article.js ... leid=60692
Enjoy the ride.
This is what you get when the govt tries to soak "the rich". It turns out "the rich" are anyone who makes much over the minimum wage.
BTW: We really don't tax the "rich" at all. We have no wealth taxes in the US. When they speak of "rich" the deep thinkers are really talking about high income earners. Who may or may not be rich. Just as low income earners may or may not be rich. This is why Warren Buffett historically paid so little in taxes. He had relatively little income to pay it on. At least compared to his wealth.
Perhaps we should tax wealth instead of or in addition to income. But we don't.
This is going to really screw with Block's 2013 earnings. They apparently make a lot of money by factoring tax returns. They find you have a refund of, say, $1,000 coming. They make you an offer: "Why wait on the IRS to send you a check? Sign the $1,000 over to us and we will give you a check for $800 right now."
It works out to an interest rate that makes shylock Vinnie the Nose down on the corner look positively charitable.
But if you are not getting a refund, they can't do that deal.
OTOH, they are do have a consumer finance arm. So they will probably be happy to loan you the money you need for the IRS. I doubt they charge more than 30-40% interest.
Worse is better but how much worse will it have to get?