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Block Revs Up, Return Down

H&R Block registered a 5-percent increase in revenue from assisted tax preparation for the year ended June 30, despite a 1.3-percent decline in return volume year-over-year. Both assisted and do-it-yourself return revenue benefited from an increase in the net average charge per return.

The tax services company registered a 7.5-percent rise in net income to $595.3 million, up from $553.7 million. Total revenue was $3.61 billion for the most recently ended year, an increase of 4 percent from $3.01 billion.  

There were 11.4 million assisted tax returns in the United States and 3.8. million do-it-yourself paid returns. Revenue from U.S. assisted returns was $2.27 billion for FY 2024, up 5 percent from $2.17 billion for fiscal 2023. DIY revenue reached $349.8 million, an increase of 11.1 percent from $314.8 million the prior year.

Among other operations, revenue from its Wave accounting software reached $96.5 million, rising 6.8 percent from $390.5 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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