Jackson Hewitt Tax Service Inc. sued H&R Block Inc to stop a new advertising campaign that it said misleads customers about tax refund loans and disparages Jackson Hewitt’s competence. Get the full story »
H&R Block
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No ‘rapid refunds’ for H&R Block customers
Millions of H&R Block Inc. customers who relied on short-term loans backed by their expected tax refunds will not have that option this year, since Block’s banking partner was forced by federal regulators to stop offering the loans.
It’s a blow to Block, the nation’s largest tax preparation company, which could lose customers to competitors still offering the loans because it has virtually no time to find a new funding partner before tax season starts in January. Get the full story »
IRS to stop releasing taxpayer debt information
The Internal Revenue Service said Thursday that it will end its policy of releasing information about back taxes and other debts taxpayers owe in the coming tax season.
The information, called debt indicators, has been included on acknowledgments the IRS sends tax preparers when it receives returns filed electronically. Get the full story »
Former McDonald’s exec exits as H&R Block CEO
H&R Block Inc. named Alan M. Bennett as its new president and CEO after its previous chief executive, Russ Smyth, resigned to take another CEO post. The executive shuffle comes as the nation’s largest tax preparer struggles with the growing popularity of do-it-yourself online filing.
The company said Smyth resigned in order to take the CEO job at a privately held Chicago-based company, which it did not name. A longtime McDonald’s Corp. executive, Smyth was chosen for the post two years ago because of his experience in franchise operations and brand building. Get the full story »
