Welcome to our dedicated page for H&R Block news (Ticker: HRB), a resource for investors and traders seeking the latest updates and insights on H&R Block stock.
H&R Block, Inc. (NYSE: HRB) stands as the world's largest tax services provider, having prepared over 650 million tax returns since its inception in 1955. Catering to a diverse clientele, H&R Block operates approximately 12,000 company-owned and franchise retail locations across all 50 U.S. states, Puerto Rico, and other U.S. territories. The company also has a presence in Canada, Australia, India, and on U.S. military bases worldwide. An H&R Block retail office is located within five miles of most Americans.
In the fiscal year 2015, H&R Block reported revenues exceeding $3.1 billion, preparing 24.2 million tax returns globally. The company’s services extend beyond retail locations, including digital tax solutions that have been aiding do-it-yourself clients for over 15 years. In FY 2015 alone, 6.9 million tax returns were completed through H&R Block's digital solutions. Employing around 9,000 bilingual tax professionals, H&R Block provides expert assistance in multiple languages.
Recent Achievements and Projects:
- AI Tax Assist: In December 2023, H&R Block introduced the H&R Block AI Tax Assist, a generative AI experience designed to streamline the tax preparation process. This innovation combines the company's extensive tax expertise with artificial intelligence to provide real-time, reliable assistance, ensuring accuracy and maximum refunds for individuals, the self-employed, and small business owners.
- Fiscal Updates: H&R Block will report its fiscal 2024 second quarter results on February 6, 2024. This will be followed by a conference call for stakeholders to discuss results and the company’s outlook.
- Leadership and Growth: Curtis Campbell, a seasoned executive with vast experience in the tax, fintech, and software industries, joined H&R Block to drive innovation and growth, especially in the consumer tax business.
- Direct Import Feature: To simplify the tax filing process, H&R Block launched the Direct Import feature, enabling users to seamlessly import prior year tax return data from TurboTax into H&R Block's online products.
- Minecraft Competitive League (MCL): H&R Block launched a unique Minecraft experience to engage young adult gamers, integrating custom versions of the game with a branded character, Sir Block, and offering in-game skins and avatars.
Beyond tax preparation, H&R Block provides financial products and small-business solutions through Block Advisors and Wave. These services include bookkeeping, payroll, advisory, and payment processing solutions, helping small-business owners thrive year-round. Additionally, H&R Block’s mobile banking app, Spruce, enhances its clients’ financial well-being.
For more detailed information, visit the company's official website at HRBlock.com.
H&R Block Announces New Leadership
On March 12, 2021, H&R Block (NYSE: HRB) appointed four vice presidents to enhance its retail and product experience divisions. This move aligns with the company’s strategic growth initiative, Block Horizons 2025. Jeff Jones, president and CEO, emphasized the importance of combining digital capabilities with human expertise to enhance the customer experience. New leaders include Karisa Booker, Mark Darling, Scott Runkel, and Ryan Weber, each bringing valuable experience to improve customer understanding and operational efficiency aimed at driving company growth.
H&R Block provides online tools to help individuals and small business owners navigate the new provisions of the American Rescue Plan Act. The Act offers significant changes in stimulus payments, providing $1,400 per individual and $2,800 per couple, with expanded eligibility for dependents. Key income thresholds have also shifted, with payments phasing out at lower income levels compared to previous rounds. Additionally, the Act includes a tax exemption for the first $10,200 of unemployment benefits for households earning under $150,000.
H&R Block, Inc. (HRB) reported its fiscal 2021 third quarter results, revealing a 41% decline in revenue to $308 million due to a delayed U.S. tax season. GAAP loss per share increased from $(0.66) to $(1.27>, while adjusted loss per share rose from $(0.59) to $(1.17. Despite these challenges, the company anticipates strong free cash flow and a quarterly dividend of $0.26 payable on April 1, 2021. The company remains optimistic about finishing the fiscal year strong, driven by its Block Horizons strategy.
H&R Block (NYSE: HRB) has announced the integration of its Block Advisors tax services with Wave's accounting software, simplifying tax filing for small business owners. This new feature allows automatic transfer of bookkeeping data to certified tax professionals, saving time during tax season. Ian Hardman from H&R Block highlighted the importance of reducing administrative burdens for small business owners. The seamless data transfer could aid businesses during challenging economic times due to the pandemic, improving both efficiency and accuracy in tax preparation.
H&R Block (NYSE: HRB) declared a quarterly cash dividend of 26 cents per share, set to be paid on April 1, 2021, to shareholders on record as of March 16, 2021. The company has maintained consecutive quarterly dividends since its public offering in 1962, underscoring its commitment to returning value to shareholders.
H&R Block (NYSE: HRB) will announce its fiscal 2021 third quarter results on March 9, 2021, post-market. Alongside the earnings report, a conference call will occur at 4:30 p.m. ET to discuss results, outlook, and updates. Interested parties can join by dialing U.S./Canada (866) 987-6821 or International (630) 652-5951. A replay will be available after the call. Shareholders and investors can access the press release and webcast through H&R Block’s investor relations website.
H&R Block (NYSE: HRB) is responding to the severe winter storm affecting millions in the U.S., particularly Texas, by donating to the American Red Cross for disaster relief. CEO Jeff Jones emphasized the company’s commitment to supporting impacted communities. Additionally, an Associate Relief Fund has been established to aid affected associates and franchisees. H&R Block’s community initiatives include funding for startups and programs designed to assist small business owners, particularly in underserved neighborhoods.
Block Advisors, part of H&R Block (NYSE: HRB), is launching a program aimed at aiding Black small business owners affected by the pandemic. A recent study indicates that 47% of small business owners lack optimism for success in 2021, with 59% reporting lower revenues than expected. Black-owned businesses faced severe challenges, with over 50% reporting a 50% revenue drop, compared to 37% of white owners. The program includes personalized coaching and potential micro-grants to enhance financial management and access to capital.
H&R Block (NYSE: HRB) has launched an online do-it-yourself tax software tailored for U.S. expats, enabling them to file their federal income taxes confidently from abroad. Due to unique tax obligations, expats must file U.S. taxes regardless of where they reside, facing potential penalties for non-compliance. The new software starts at $99 for simple returns, addressing complexities like avoiding double taxation and special reporting requirements. U.S. expats can benefit from an extended filing deadline of June 15 if they are outside the U.S. on April 15.
H&R Block (NYSE:HRB) is offering a Refund Advance loan to help taxpayers access funds quickly amid IRS delays in processing returns this tax season. Starting February 12, the IRS will not process refunds, potentially causing financial strain for many Americans. H&R Block's loan allows approved clients to receive up to $3,500 with 0% interest on the same day they file their tax return. This service aims to alleviate financial pressure during a challenging economic climate.
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