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 (NYSE: HRB) is adapting to the pandemic's impact on tax preparation, offering safe and convenient filing options. As many Americans face financial uncertainty, the company emphasizes the importance of accuracy to maximize tax benefits. Customers can choose virtual or in-office services, benefiting from expert tax advice. Enhanced safety measures, including social distancing and sanitation, are implemented for in-person visits. H&R Block aims to help clients claim all eligible credits, deductions, and stimulus payments, providing valuable assistance for 2020 tax returns.
The recent stimulus package offers additional support for small business owners, including a second round of Payroll Protection Program (PPP) loans. Block Advisors' certified tax professionals are available to help small business owners navigate these relief options and understand the tax implications. Their services include consultations and resources available on the company’s coronavirus resource hub. Block Advisors has over 7,500 locations nationwide and aims to assist small business clients with bookkeeping and payroll needs, emphasizing their expertise and commitment to accuracy.
KANSAS CITY, Mo., Jan. 04, 2021 – Millions of Americans will receive their second stimulus payment starting January 4, as announced by the IRS. Payments will be processed mainly via direct deposit or through checks and debit cards for those without bank accounts. H&R Block is poised to assist customers with available tools and expert help. Notably, issues like payments sent to closed accounts may result in checks being mailed instead. The IRS Get My Payment website will help track the payment status, and H&R Block provides resources for potential claims during tax filing.
H&R Block has introduced a stimulus payment calculator and a new resource library to assist individuals, families, and small business owners impacted by COVID-19. This initiative coincides with the rollout of the second stimulus check under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. Users can estimate their potential payment amounts and get answers to frequently asked questions regarding the relief bill. The company's tax professionals are also available to provide guidance through this challenging period.
H&R Block (NYSE: HRB) is offering approved applicants access to up to $1,000 through its Emerald Advance line of credit, available until January 9, 2021. This initiative aims to alleviate financial burdens amid the ongoing challenges of 2020. Applicants must provide a current pay statement and photo ID at H&R Block tax offices, where strict COVID-19 safety measures are in place. Credit is subject to bank approval, with the typical first draw loaded onto an Emerald Card.
For more details and to apply, visit the Emerald Advance website.
H&R Block (HRB) reported a 10% revenue growth in Q2 fiscal 2021, reaching $177 million, driven by higher tax return volumes in the U.S. and Canada, and increased small business payments. Despite a pretax loss of $237 million, it improved by $24 million compared to the previous year. GAAP loss per share rose to $(1.17). The company repurchased 9.5 million shares for $150 million and declared a dividend of $0.26 per share. H&R Block plans to discuss its strategic transformation and fiscal outlook during a virtual Investor Day.
On December 8, 2020, H&R Block (NYSE: HRB) unveiled its Block Horizons strategy, aimed at ensuring long-term growth through three key imperatives: Small Business, Financial Products, and Block Experience. The strategy focuses on enhancing customer experiences and expanding service offerings to a broader client base, particularly among small businesses and under-banked consumers. H&R Block aims for an annual revenue growth of 3-6% and emphasizes a strong balance sheet to support growth investments.
H&R Block (NYSE: HRB) has announced a virtual Investor Day scheduled for December 8, 2020, starting at 10:00 a.m. EST. The company's leadership, including CEO Jeff Jones and CFO Tony Bowen, will discuss their strategic transformation plans and provide an outlook for fiscal year 2021. Key financial results for the second quarter of fiscal 2021 will also be released on the same day before the market opens. Materials from the event will be accessible on the company’s investor relations website.
H&R Block (NYSE: HRB) announced a quarterly cash dividend of 26 cents per share, set for payment on January 4, 2021. Shareholders are required to be on record by December 7, 2020. The company has consistently paid dividends since going public in 1962, highlighting its commitment to returning value to shareholders. This announcement reflects H&R Block’s financial stability and ongoing shareholder confidence amid evolving market dynamics.
H&R Block released findings from its Small Business Recovery Series, revealing that 47% of small business owners rely on intuition over data. Despite 74% experiencing revenue declines, 90% have not sought financial advice. Over half (52%) are adapting to e-commerce in anticipation of a significant online shopping season, while minority (35%) and female (34%) owners report greater challenges in establishing digital presence. The report highlights increased anxiety among small business owners, with only 22% likely to seek mental health support. H&R Block emphasizes its commitment to assist small businesses.