Good Morning Gentle Readers,
Although you might think so, Block isn't really a competitor of TWC's tax services. Hence, this will mean little in the way of potentially new business.
My experience with customers of H&R Block is that if the tax return is relatively simple, they can get the job done. However, I've seen the ashes of some really boneheaded decisions made by Block's preparers in my day.
H&R Block reported that during tax season its tax preparation fees in its retail operations slid 5.5 percent to $2.61 billion. Same-office tax returns prepared in retail operations fell 4 percent while total tax returns prepared were down 4.9 percent over the prior year.
Got my hair cut a few weeks ago and The Girl told me that H&R Block charged her $425.00 to do her 2009 tax return.
She isn't married. Seems like she has one kid. No Earned Income Credit. She doesn't itemize deductions. She also isn't going back to them.
Might be one reason Block's revenue is off. You prepare enough $150.00 returns that cost $425.00 and people get peeved. At $425.00, an evening with TurboTax is looking pretty good.
Whole story here.
Tip of the glass to the Missus