"Without being overly dramatic. we are now harnessing the might and power of a brand with almost 100-percent awareness behind our digital products and the fight for digital share,” said Russell Turtledove, SVP and chief marketing officer. "I’ve got to tell you, we know it’s the right thing to do and it’s about time. I’m not sure why we shied away from it but we’re doing it." Turtledove, who joined the company during the summer, said he had been unaware of TaxCut before coming to Block and said that was true of a significant part of the market.

The company also said that its decision to turn company-owned stores into franchisors should help it compete more effectively with other tax chains. Smyth said previously Block established company-owned stores in urban areas instead of selling franchises.That forced potential franchisees to sign with competitors. But that practice has changed.

"I think now that we are once again an active franchisor its going to make it a lot more difficult for our branded competitors to attract and to retain the best franchisees available in the tax preparation industry," Smyth said.