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Block Assisted Revs Rise 4.4%

Tax formRevenue from assisted tax preparation increased by 4.4 percent for the second quarter ended March 1 for H&R Block. But a drop in DIY preparation and refund transfer revenue left the held the overall revenue increase to 1.5 percent.

Net income fell to $643.4 million, down 4.1 percent from $673.2 million.

Two days after the filing of the company’s Form 10Q, Block announced the departure of Karen A. Orosco, who had been with the company since March 2023. Orosco, who will leave the company on July 1, had served as president of global consumer tax and service delivery since June 2021.

Assisted revenue rose to $1.45 billion in the most recently ended period, from $1.39 billion a year ago. Overall revenue was $2.09 billion, compared to $2.06 billion.

Block said DIY revenue dropped to slightly more than $167 million from $175.2 million in last year’s corresponding period. Revenue from refund transfers fell 11.2 percent to $117.4 million from $132.2 million

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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