H&R Block launches one of the first services to help small businesses navigate CARES Act stimulus relief options

Rhea-AI Summary

H&R Block (NYSE: HRB) has launched a new Recovery Action Plan service, aimed at assisting small businesses in navigating CARES Act relief options amid COVID-19 challenges. The service includes a one-on-one consultation for $99, where owners can learn about eligible loan programs, tax credits, and receive a customized action plan. Additional services include a free Second Look® review of prior tax returns and a discount on 2019 tax preparation fees. This initiative supports H&R Block’s commitment to helping small businesses recover and thrive.

Positive

• Launch of the Recovery Action Plan service provides valuable support to small businesses facing COVID-19 challenges.
• Customized action plans help small business owners understand relief options effectively.
• Free Second Look® review ensures small businesses maximize available tax credits and deductions.

Negative

• The service requires a fee of $99, which may be a barrier for some small business owners seeking assistance.

KANSAS CITY, Mo., May 07, 2020 (GLOBE NEWSWIRE) -- Many small businesses are struggling with how to recover from the COVID-19 crisis, and H&R Block believes they should have a trusted place to turn for assistance. That is why H&R Block (NYSE: HRB) is introducing a Recovery Action Plan consulting service to help small businesses navigate the CARES Act stimulus options, including loan programs, and tax credits.

The Recovery Action Plan service* includes up to an hour-long one-on-one phone consultation for $99 with an H&R Block small business expert to discuss various relief options, eligibility requirements, and potential actions. After the session, the small business owner will receive a customized action plan outlining the CARES Act options for their business and the immediate next steps they can take.

“We hear from small business owners every day asking for help understanding the CARES Act stimulus relief programs,” said Jeff Jones, H&R Block, President and CEO. “Because they shouldn’t have to go it alone, we developed the Recovery Action Plan service, using our human advantage – our network of highly trained tax professionals –-to help small businesses recover and thrive despite the financial impact of the pandemic. This is an important part of our community impact initiative to Make Every Block Better by supporting communities and small businesses across the country.”

The Recovery Action Plan service will help small business owners understand which stimulus loan programs they may be eligible for, how much they might be able to borrow, and, where applicable, the guidelines for the loan to be forgiven. H&R Block experts will also help small business owners determine their eligibility for applicable tax credits and conduct a free Second Look® review of the small business’s prior three years of tax returns to ensure they received all the credits and deductions they are entitled to. As an added benefit, small business owners who use this service will receive $25 off their 2019 tax prep fees if they have not yet filed.

H&R Block is supporting small businesses in several other ways as well. These include:

• A free coronavirus small business resource center with regular updates on government assistance programs and answers to commonly asked questions.
• Joining the Stand for Small coalition of companies combining the valuable benefits of its members into an easy-to-use centralized digital platform where small business owners can access relevant products, information, tools, and services.
• Helpful resources for small businesses are also available from Wave.

Small business owners can visit hrblock.com/smallbusiness to get started by scheduling their phone consultation with an H&R Block small business expert.

*Additional consultation is available for $60 per hour. All fees to be collected at time of consultation. Terms and conditions apply.

About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial services and small business solutions. The company is disrupting the tax industry by providing consumers price transparency and with digital platforms such as Tax Pro Go^SM. H&R Block believes the best solutions blend digital capabilities with human expertise and care. For more information, get H&R Block News online and follow @HRBlockNews.

For further information
Investor Relations: Colby Brown | 816-854-4559 | 
Media Relations: Susan Waldron | 816-854-5522 |

FAQ

What is the Recovery Action Plan by H&R Block?

It is a consulting service helping small businesses understand and access CARES Act relief options.

How much does the Recovery Action Plan consultation cost?

The consultation costs $99 for up to an hour with a small business expert.

What are the benefits of using H&R Block's Recovery Action Plan?

Benefits include a customized action plan, eligibility assessments for loans and tax credits, and a free review of past tax returns.

Who can benefit from H&R Block's Recovery Action Plan?

Small business owners looking for guidance on financial recovery options related to COVID-19.

When was the Recovery Action Plan launched by H&R Block?

The Recovery Action Plan was launched on May 7, 2020.