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 (NYSE: HRB) has launched Spruce, a mobile banking app designed to enhance financial health, especially during tax season. Customers can receive their federal tax refunds up to five days early when deposited into their Spruce accounts. This app offers features such as tax refund recommendations and budgeting tools, catering to the needs of the majority of Americans who benefit from tax refunds. With no fees or minimum balance requirements, Spruce aims to help users manage their finances more effectively and make informed spending choices. The service aligns with the company's mission to improve access to financial services for struggling consumers.
H&R Block has partnered with CoinTracker to streamline cryptocurrency tax filing for the 2023 tax season. This collaboration allows users to automate their crypto tax filings, addressing the needs of consumers who were previously unaware of their tax obligations regarding digital assets. In 2022, H&R Block reported an 85% increase in clients declaring crypto transactions. Users can now easily import data from Form 8949 without manual entry. Benefits of the partnership include a free tax plan for fewer than 25 transactions and discounts on both CoinTracker and H&R Block products.
H&R Block (NYSE: HRB) announces significant savings for small businesses ahead of the March 15 tax filing deadline. Filers can save up to 50% on business entity tax preparation through Block Advisors, compared to standard accountant fees for S Corporations, partnerships, and multi-member LLCs. The March deadline also applies for tax extension filings using Form 7004. Block Advisors supports over 2 million small business owners yearly, ensuring they maximize their refunds.
H&R Block (NYSE: HRB) has announced the return of its program A Fair Shot, which aims to promote gender equity in name, image, and likeness (NIL) deals for female student athletes.
This year, the initiative celebrates 50 athletes across 13 sports, doubling last year's participation of 19 athletes. The program also includes NCAA Division II, Division III schools, and Historically Black Colleges and Universities.
Alongside partners Fabletics and Jambys, H&R Block highlights the disparities in NIL sponsorships, offering tax preparation services to help athletes understand the financial aspects of their earnings.
H&R Block (NYSE: HRB) has appointed Alex Cook as Vice President of Small Business, enhancing its tax services for small business clients. Cook, with over a decade of experience at Microsoft and 16 years at Walmart, will work under Chief Strategy and Small Business Officer Jamil Khan. H&R Block currently assists over 2 million small business owners annually, and Cook's expertise is aimed at increasing this client base. The company focuses on blending digital innovation with human expertise, offering services that include tax preparation, financial products, and small-business solutions.
H&R Block (NYSE: HRB) reveals insights on how Gen Z is approaching tax season. A survey indicates that 52% of Gen Z participates in side hustles, often leading to complex tax situations. With 39% earning over $600 from these activities, many lack knowledge regarding tax implications. Despite popular belief, only 16% turn to social media for tax advice, instead preferring trusted sources like tax professionals. Optimistically, 92% of Gen Z expects a refund, planning to use it for savings and debt relief. H&R Block promises a guaranteed maximum refund and real-time results to cater to this generation's needs.
H&R Block (HRB) reported a 5% revenue increase for Q2 FY2023, reaching $166.4 million, driven by strong tax season performance despite lower Emerald Card revenues. The company reiterated its fiscal year outlook, forecasting revenue between $3.535 to $3.585 billion. Share repurchases totaled $130.4 million, reducing shares outstanding by 2%. However, losses per share increased from $(1.09) to $(1.43) due to lower income tax benefits. Total operating expenses rose to $449.6 million, reflecting higher wages and bad debt, partially offset by favorable insurance reserves. H&R Block remains committed to returning value to shareholders through dividends and share buybacks.
H&R Block has appointed Terrell Brown as Vice President, Retail Sales and Service for the East Market, effective immediately. He will oversee seven regions across the Eastern U.S. and report to Bob Moretti, Senior Vice President of U.S. Retail Operations. Brown, a ten-year veteran at H&R Block, previously led multiple regions and developed the Field Leader Development Program, resulting in a significant increase in district general managers. His leadership in the Tax Pro Experience programs has been recognized with multiple awards, demonstrating his contribution to the company's growth and operational strategies.
KANSAS CITY, Mo., Feb. 1, 2023 – H&R Block (NYSE: HRB) has declared a quarterly cash dividend of $0.29 per share, payable on April 5, 2023, to shareholders of record by March 7, 2023. The company has maintained a consistent dividend payment for over sixty years, having gone public in 1962.
Since 2016, H&R Block has increased its dividend by over 45% and returned nearly $3 billion to shareholders through dividends and share repurchases.
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