H&R Block, Inc. reports developments across its tax preparation, financial products, and small-business services business. Recurring updates cover assisted tax preparation, digital do-it-yourself filing, AI-enabled tax tools, changes in tax rules affecting filers, and seasonal operating results across U.S. assisted, DIY, international, Refund Transfer, and Wave activity.
The company also issues updates on capital allocation, including quarterly dividends and share repurchases, and on products tied to year-round money management and small-business support. Its brands and platforms include Spruce, Block Advisors, and Wave, which provide mobile banking, bookkeeping, payroll, advisory, and payment-processing services alongside the company’s core tax offerings.
H&R Block provides online tools to help individuals and small business owners navigate the new provisions of the American Rescue Plan Act. The Act offers significant changes in stimulus payments, providing $1,400 per individual and $2,800 per couple, with expanded eligibility for dependents. Key income thresholds have also shifted, with payments phasing out at lower income levels compared to previous rounds. Additionally, the Act includes a tax exemption for the first $10,200 of unemployment benefits for households earning under $150,000.
H&R Block, Inc. (HRB) reported its fiscal 2021 third quarter results, revealing a 41% decline in revenue to $308 million due to a delayed U.S. tax season. GAAP loss per share increased from $(0.66) to $(1.27>, while adjusted loss per share rose from $(0.59) to $(1.17. Despite these challenges, the company anticipates strong free cash flow and a quarterly dividend of $0.26 payable on April 1, 2021. The company remains optimistic about finishing the fiscal year strong, driven by its Block Horizons strategy.
H&R Block (NYSE: HRB) has announced the integration of its Block Advisors tax services with Wave's accounting software, simplifying tax filing for small business owners. This new feature allows automatic transfer of bookkeeping data to certified tax professionals, saving time during tax season. Ian Hardman from H&R Block highlighted the importance of reducing administrative burdens for small business owners. The seamless data transfer could aid businesses during challenging economic times due to the pandemic, improving both efficiency and accuracy in tax preparation.
H&R Block (NYSE: HRB) declared a quarterly cash dividend of 26 cents per share, set to be paid on April 1, 2021, to shareholders on record as of March 16, 2021. The company has maintained consecutive quarterly dividends since its public offering in 1962, underscoring its commitment to returning value to shareholders.
H&R Block (NYSE: HRB) will announce its fiscal 2021 third quarter results on March 9, 2021, post-market. Alongside the earnings report, a conference call will occur at 4:30 p.m. ET to discuss results, outlook, and updates. Interested parties can join by dialing U.S./Canada (866) 987-6821 or International (630) 652-5951. A replay will be available after the call. Shareholders and investors can access the press release and webcast through H&R Block’s investor relations website.
H&R Block (NYSE: HRB) is responding to the severe winter storm affecting millions in the U.S., particularly Texas, by donating to the American Red Cross for disaster relief. CEO Jeff Jones emphasized the company’s commitment to supporting impacted communities. Additionally, an Associate Relief Fund has been established to aid affected associates and franchisees. H&R Block’s community initiatives include funding for startups and programs designed to assist small business owners, particularly in underserved neighborhoods.
Block Advisors, part of H&R Block (NYSE: HRB), is launching a program aimed at aiding Black small business owners affected by the pandemic. A recent study indicates that 47% of small business owners lack optimism for success in 2021, with 59% reporting lower revenues than expected. Black-owned businesses faced severe challenges, with over 50% reporting a 50% revenue drop, compared to 37% of white owners. The program includes personalized coaching and potential micro-grants to enhance financial management and access to capital.
H&R Block (NYSE: HRB) has launched an online do-it-yourself tax software tailored for U.S. expats, enabling them to file their federal income taxes confidently from abroad. Due to unique tax obligations, expats must file U.S. taxes regardless of where they reside, facing potential penalties for non-compliance. The new software starts at $99 for simple returns, addressing complexities like avoiding double taxation and special reporting requirements. U.S. expats can benefit from an extended filing deadline of June 15 if they are outside the U.S. on April 15.
H&R Block (NYSE:HRB) is offering a Refund Advance loan to help taxpayers access funds quickly amid IRS delays in processing returns this tax season. Starting February 12, the IRS will not process refunds, potentially causing financial strain for many Americans. H&R Block's loan allows approved clients to receive up to $3,500 with 0% interest on the same day they file their tax return. This service aims to alleviate financial pressure during a challenging economic climate.
H&R Block (NYSE: HRB) announced its 2021 tax season advertising campaign, emphasizing accessible expert help for customers facing tax challenges due to the COVID-19 pandemic. The campaign highlights a hybrid model combining in-person and virtual tax preparation services. Clients can utilize digital tools such as video chats and document uploads for convenience. Directed by Michael Gracey, the campaign includes original musical scores to engage audiences. It will run across various media until April, reinforcing H&R Block's commitment to customer-centric service.