June 30, 1999 |
H&R Block Inc., the world's largest tax preparer, said it will pay $290 million for accounting firm McGladrey & Pullen's non-audit business, expanding its accounting and consulting practice fourfold as it builds a full-range financial services company. The transaction would make H&R Block the nation's sixth-largest accounting firm, with about $400 million in revenue.
January 5, 2006 |
H&R Block Inc. mistakenly mailed out free copies of its tax-return software that included the recipients' Social Security numbers on the mailing label, a spokeswoman said. The company estimates that fewer than 3% of the mailings included the numbers, although the spokeswoman declined to say how many copies of the TaxCut software went out. H&R Block began mailing letters to the recipients Dec. 22 warning them about the mistake.
February 16, 2006 |
California Atty. Gen. Bill Lockyer sued H&R Block Inc. on Wednesday, seeking to stop a widely used loan program that entitles the nation's largest tax preparer to a chunk of its customers' tax refunds. The San Francisco Superior Court complaint joins a long list of lawsuits that have targeted H&R Block's refund anticipation loans -- cash advances the company arranges for customers so they won't have to wait for a check from the government.
September 8, 2006 |
H&R Block Inc., responding to New York and California regulators who said the nation's biggest tax preparer had overcharged clients, said Thursday that it would cut fees on refund loans by 40% and offer low-cost bank and retirement accounts. Charges for a typical $2,800 "refund-anticipation loan" will drop to $60 from about $100, Chief Executive Mark Ernst told shareholders at the company's annual meeting in Kansas City, Mo.
May 14, 1998 |
H&R Block has acquired a Kansas City, Mo., accounting firm in its first step toward building a national accounting practice. The firm, Donnelly Meiners Jordan Kline, will be acquired by Block's newly formed subsidiary, HRB Business Services Inc. Terrence E. Putney, the firm's president, will head the new subsidiary. "This is the first in what we expect will be a series of local and regional accounting firm acquisitions," H&R Block President and Chief Executive Frank L. Salizzoni said.
December 12, 2007 |
H&R Block Inc., the nation's largest tax preparer, delayed its fiscal second-quarter earnings report to give its new auditors time to review the numbers. But the company said it expected a much larger loss as its mortgage business continued to drag it down. A preliminary report said that H&R Block expected a net loss of $502.3 million, or $1.55 a share, for the quarter ended Oct. 31, compared with a loss of $156.5 million, or 49 cents, during the same period a year earlier. Of that loss, $366.
January 26, 1999 |
H&R Block Inc., the largest tax-preparation company in the U.S., said it will sell its credit card unit to Providian Financial Corp., exiting the card business. San Francisco-based Providian will buy H&R Block's $181-million WebCard Visa portfolio. Terms of the transaction, which is expected to close Friday, weren't disclosed. The credit cards were used by customers of H&R Block's former CompuServe online service. The company sold CompuServe to MCI WorldCom Inc. in February.
February 16, 2000 |
H&R Block Inc., the world's largest tax preparer, has shut down its online filing system after discovering that some people's financial information may have been mixed with that of other people. H&R Block identified fewer than 50 people affected among more than 300,000 tax returns, but it expects the program to remain shut down until the weekend while it makes sure no other people are affected, spokeswoman Linda McDougal said.
August 29, 1996 |
H&R Block Inc. on Wednesday postponed the spinoff of its remaining stake in CompuServe Corp., hoping to raise the stock price before giving the money-losing unit to shareholders. To separate CompuServe from its tax-preparation business, H&R Block intends to improve CompuServe's performance by cutting costs and stemming customer defections to cheaper Internet services.
August 29, 2001 |
AOL Time Warner Inc. agreed to promote services from H&R Block Inc., the world's biggest tax preparer, on its Internet and television networks, including America Online and Time Warner Cable. H&R Block will offer America Online service to clients at its 10,400 offices worldwide. Terms of the agreement weren't disclosed. Separately, H&R Block said its fiscal first-quarter losses narrowed to $30.8 million, or 17 cents a share, from $51.