Estimated reading time: 0 minutes, 53 seconds

Block Prepared Tax Returns Drop

Wednesday, Feb 24 2010
News
Written by 

Russ SmythKANSAS CITY, Mo. – H&R Block saw a 6.3 percent drop in the number of tax returns prepared through February as total returns prepared year-to-date fell 8.2 percent and average retail fee per tax return prepared increased by 1.8 percent. Meanwhile, returns prepared online or via Block's desktop software dropped by 1.8 percent from the prior year.

Although the number of returns prepared online grew by 3.1 percent, the number prepared via its H&R Block At Home software (formerly called TaxCut), fell by 7.6 percent. The results seem to give credence to Intuit's statements that its increase in sales of TurboTax came at Block's expense.

Block CEO Russ Smyth, without referring to the competition, said the weak economy has led to a shift in do-it-yourself preparation. He also said the filings in general are down because of economic conditions.

The tax services change is in the middle of major shifts, having taken on new management in the last year, renamed the software product line and decided to franchise many company stores along with promising to make retail locations more welcoming to clients.

Read 5378 times
Rate this item
(0 votes)
More in this category: « CCH Small Firm Services Consolidates Operations Morningstar Restores Benefits Despite Net Decline »

Latest from The Progressive Accountant

Visit other PMG Sites:
Template Settings
Theme

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Link Color
Text Color

Header

Background Color
Background Image
pattern1 pattern2 pattern3 pattern4 pattern5

Footer

Background Color
Background Image
pattern1 pattern2 pattern3 pattern4 pattern5
Layout
Select layout
Menu
Select menu
Typography
Google Font
Body Font-size
Body Font-family
Direction
Reset