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H&R BLOCK SAYS CONSIDER ALL OPTIONS BEFORE FILING LATE

 KANSAS CITY, Mo., April 8 /PRNewswire/ -- Can't pay your taxes? Tempted to file your tax return late this year?
 "Think again," said Thomas M. Block, president and chief executive officer of H&R Block. "Although the IRS has just announced plans to allow some taxpayers to use an extension to avoid some of the normal penalties, even if they file their tax returns late, there's another solution to your April 15 dilemma -- one that will save you money in the long run."
 If you owe money on your income tax return and can't afford to pay the full amount right away, Block recommends that you consider filing your return on time and paying the taxes you owe in installments.
 All you have to do is attach Form 9465, Installment Agreement Request, to the front of your tax return. H&R Block will prepare this form at no charge.
 Even the IRS recommends filing your tax return now and paying as much as you can as soon as you can. By filing your return on time and requesting an installment payment plan, you are guaranteed protection from the penalty for filing your return late. Although the IRS will assess interest and may charge an additional amount for paying late, by making installment payments you'll keep these charges to a minimum.
 On the other hand, if you're tempted to take the IRS up on its extension offer, remember, using an extension does not eliminate the need to work through your tax return. To properly complete the form and obtain the extension, you need to estimate the amount of your tax accurately -- failure to do so can result in the extension being denied and late filing penalties being assessed.
 Even if you do get the extension, you won't get a break on the late payment penalties unless you pay at least 90 percent of your tax by April 15. And then, you'll still have to pay interest on the amount you owe.
 In addition, you must still file your state return on time, as it's not clear if any states are following the IRS example.
 -0- 4/8/93
 /CONTACT: Judy C. Keisling of H&R Block Tax Services, 816-753-6900/


CO: H&R Block ST: Missouri IN: SU:

MC -- DV010 -- 4436 04/08/93 17:25 EDT
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Date:Apr 8, 1993
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