July 8, 2005 |
One month after pledging to staunch the loss of customers from its digital tax business, H&R Block Inc. said Thursday that it had acquired a small, online tax service company whose founders helped create the popular Turbo Tax software. TaxNet Inc. of San Diego, formed last year by Tom Allanson and David Murray, launched its online tax preparation and filing program in January. Formerly with Intuit Inc.'
June 9, 2005 |
H&R Block Inc. said fiscal fourth-quarter profit rose 6.9% on an increase in mortgage lending, after adjusting for a restatement that boosted year-earlier earnings. It also set a 2-for-1 stock split. Net income rose to $616.5 million, or $3.66 a share, from $576.9 million, or $3.24, a year earlier, the Kansas City, Mo.-based company said. The company restated earnings for fiscal 2004 and 2003, adjusting for changes in the way it accounts for acquisitions, leases and other items.
January 14, 2005 |
H&R Block Inc., accused by clients of gouging as many as 17 million tax preparation customers on refund loans, said it would work with an advocacy group for low-income families to reduce sales of the loans. The tax-preparation company and the Assn. of Communication Organizations for Reform Now said they were collaborating to help more clients understand that a loan may be unnecessary because refunds often come in as few as eight days.
November 9, 2004 |
Securities regulators have accused H&R Block Financial Advisors of fraud in selling customers nationwide some $16 million of Enron Corp. bonds in late 2001 and touting them as a safe investment when the energy-trading giant had begun to collapse. The NASD, formerly the National Assn. of Securities Dealers, announced its complaint Monday against the investment division of the world's largest tax preparer, H&R Block Inc., which denied the allegations.
April 1, 2004 |
H&R Block Inc. on Wednesday said it lost a bid for dismissal of a lawsuit on behalf of millions of customers who claim the world's largest tax preparer plotted with bankers to gouge them on tax-refund loans. U.S. District Judge Elaine Bucklo in Chicago found that a nationwide class of consumers can press claims that H&R Block and its banking-services partner, Household International Inc.
December 13, 2003 |
H&R Block Inc. said the Securities and Exchange Commission was investigating the company's disclosure of lawsuits stemming from its tax refund loans. The SEC has begun a formal investigation into company filings before December 2002. H&R Block reported a $41.7-million charge in November 2002 to settle a Texas lawsuit over its loans, which advance money to clients while they await tax refunds.
November 26, 2003 |
H&R Block Inc., the world's biggest tax preparation company, earned a second-quarter profit for the first time in its history because of a 20% increase in mortgage lending earnings. Its shares rallied in after-hours trading. Net income was $10.4 million, or 6 cents a share, contrasted with a loss of $37.3 million, or 21 cents, a year earlier. Analysts surveyed by Thomson First Call expected a 6-cent loss. The company increased its annual earnings forecast to a range of $3.65 to $3.
June 3, 2003 |
The Supreme Court ruled that usury claims in a lawsuit involving H&R Block Inc. customers who took out tax refund anticipation loans must be moved to federal court. The high court ruled for Beneficial National Bank, a unit of Household International Inc., which had joined the nation's leading tax preparer in making the loans.