All articles tagged with #handr block
H&R Block in Kansas City gave its employees the afternoon off to celebrate Taylor Swift's engagement to Travis Kelce, reflecting the widespread excitement and community spirit surrounding the celebrity couple's announcement.
Shares of H&R Block and Intuit fell after reports that the Trump administration is considering a free tax-filing app, potentially competing with these companies' services. The discussions, led by the Department of Government Efficiency, are in early stages. This development follows the IRS's permanent establishment of its free Direct File program.
H&R Block experienced technology outages, affecting last-minute tax filers using desktop software, but not those using web browser or working with tax professionals. The issue started Sunday night and was resolved by Monday afternoon, with the company receiving about 2,000 inquiries related to the outage. The IRS encourages e-filing, warning that processing paper returns takes longer. Meanwhile, the U.S. Treasury Department met its goal of 100,000 taxpayers filing returns as part of the Direct File pilot program, with eligible taxpayers in 12 states able to file simple tax returns using Direct File until the deadline.
Some H&R Block customers experienced outages with the desktop software ahead of the tax day deadline, but the issue was resolved later in the day. The company confirmed that online clients and those working with a professional were not affected. The IRS received an $80 billion funding boost to enhance its digital capabilities, including a new online tax filing tool. Customers have until 11:59 p.m. in their local time zone on Monday to file their taxes without receiving a late fee, with extensions available for certain circumstances.
Some H&R Block customers experienced outages on Tax Day, preventing them from filing their taxes online, with the issue being resolved by Monday afternoon. The outage came at a crucial time as the IRS deadline approached, affecting desktop software users but not the company's website. Affected customers were advised to refile or print and mail their forms, frustrating some who rely on e-filing. The IRS extended the deadline for taxpayers in Maine and Massachusetts due to local holidays.
H&R Block experiences electronic filing issues on tax deadline day, with users encountering "bad gateway" and "502" errors, as well as reports of repeated charges. The issue, affecting desktop software users, began Sunday night and extended into Monday. H&R Block assures that online and in-person clients are not impacted and is working to resolve the problem. Meanwhile, affected users are advised to try again later or consider alternative filing services like TurboTax and FreeTaxUSA.
The Federal Trade Commission has accused H&R Block of deceiving customers by pushing them to use more expensive products than necessary and making it inconvenient for them to switch. The agency claims that while customers upgrading to more expensive products had their data transferred seamlessly, those wanting to downgrade had to contact customer service and start over. H&R Block has defended itself, stating that it offers fair and transparent pricing and allows consumers to downgrade to a less-expensive DIY product while ensuring accurate tax returns.
The Federal Trade Commission (FTC) has accused H&R Block of deleting the tax data of customers who attempt to downgrade to less expensive options, effectively pressuring them into paying for pricier services. The FTC also alleges that H&R Block engaged in deceptive advertising by marketing its online tax preparation services as free when many customers end up having to pay. H&R Block's chief legal officer maintains that the company provides fair and transparent pricing and allows consumers to downgrade to less expensive products, while the FTC's claim comes shortly after a similar ruling against Intuit's TurboTax.
The Federal Trade Commission is taking action against H&R Block for unfairly deleting consumers’ tax data, deceptively marketing their products as “free,” and pressuring consumers into overpaying for their online tax filing products. The FTC alleges that H&R Block's practices cost consumers time and money, as they lead consumers into higher-cost products and fail to clearly explain which forms and schedules are covered. Additionally, the company requires consumers to contact customer support and start their tax return from scratch when attempting to downgrade, creating a significant disincentive to do so. The complaint also outlines deceptive advertising practices, as H&R Block's "free" offer applies only to "simple returns," which has caused frustration and confusion among consumers.
Forbes' annual best employers list for the U.S. includes six Kansas City-area companies, with Garmin Ltd ranking at No. 2 and the University of Kansas Health System at No. 10. H&R Block also made the list at No. 355.
E.l.f. Beauty raises full-year guidance after surpassing third-quarter earnings estimates, Enphase Energy stock surges despite mixed fourth-quarter earnings, and H&R Block beats fiscal second-quarter revenue estimates while announcing the retirement of its chief financial officer.
Microsoft and H&R Block have partnered to launch AI Tax Assist, a generative AI tool powered by Microsoft's Azure OpenAI Service, to simplify the tax filing process for individuals, self-employed, and small business owners. The tool leverages data from H&R Block's Tax Institute and over 60,000 tax professionals to provide guidance on tax forms, deductions, credits, and policy changes. Microsoft's Eric Boyd highlighted the exclusive partnership with H&R Block as part of its AI 100 initiative, emphasizing the use of AI to assist users in preparing and filing their tax returns. The companies ensure data privacy and transparency, with H&R Block continuing to offer its accuracy guarantee through AI Tax Assist.
H&R Block and Cava stocks rose after both companies reported better-than-expected earnings in their respective quarterly reports. H&R Block beat Wall Street's expectations with higher earnings per share and revenue, leading to a 10.3% increase in its quarterly dividend and an upward revision of its full-year guidance. Cava, the Mediterranean restaurant chain, exceeded revenue estimates and posted positive earnings per share, driving a 4.3% increase in its stock. Meanwhile, AgEagle Aerial Systems reported a smaller loss per share, Mercury Systems missed expectations, causing a 10.4% drop in its stock, and Stride's educational technology stock surged after delivering better-than-expected earnings and revenue in its fiscal fourth quarter.
The debt ceiling deal in Washington has caused some companies to emerge as winners. Pipeline company Equitrans Midstream spiked around 40% due to the agreement containing a call to speed up the creation of a stalled natural gas pipeline called the Mountain Valley Pipeline. Lending company SoFi is also expected to benefit as the deal calls for borrowers to start paying back federal student loans at the end of the summer. H&R Block and TurboTax owner Intuit are expected to benefit from the loss of funding to the IRS, which lowers the odds the IRS will build an expansive electronic tax filing system. The defense industry is also emerging largely unscathed from the debt ceiling battle.
The IRS is testing a free online tax filing system that could compete with commercial preparers such as Turbo Tax and H&R Block. The system, which was funded through $15 million from last year’s Inflation Reduction Act, would be free and fill out some tax-related information for the user. Currently, the IRS Free File directs users to commercial providers through an existing public-private partnership, but the new system would put the agency in direct competition with those providers.