Professionally prepared tax returns are closing the gap with the numbers filed in the 2013 tax season. While the number through February 28 lagged last year's total by 1.4 percent, the gap between 2013 and 2013 has narrowed significantly since the Internal Revenue Service began reporting statistics early in February. Meanwhile, the numbers received and processed continue to outstrip the totals through March 1, 2013.

A Washington D.C.-based tax preparer has been indicted for allegedly conspiring to defraud the Internal Revenue Service, aiding and assisting in the preparation of false individual income tax returns and filing false individual income tax returns. Sherri Davis, owner of 2FT Fast Facts Tax Service, faces a maximum of 53 years in prison and a fine of up to $4,250,000 if convicted on all 17 counts.

The delayed tax season left H&R Block all dressed up with no place to go for the third quarter ended January 31 in terms of financial results. With only one day of filing reflected in the quarterly report, the company reported a steep rise in its loss and a sharp drop in revenue, compared to last year's corresponding quarter. During this week's earnings webcast, CEO Bill Cobb said that $277 million in revenue would shift to the current quarter.