Wednesday, April 25, 2012

H&R Block To Close 200 Offices, Lay Off 350

Office closings and mass layoffs hit yet another industry that is being hit hard by technical innovation. Here is Bloomberg with the details:
H&R Block Inc., the biggest U.S. tax preparer, plans to cut 350 jobs and close about 200 company- owned offices as part of a realignment.

Also, H&R Block said it is searching for a new chief financial officer and that CFO Jeff Brown will remain with the company during the search process. Once a successor is found, Brown will transition to chief accounting and risk officer, the Kansas City, Missouri-based company said in a statement.
I've always prepared my own taxes, and about five years ago switched over to Turbo Tax. That program is so easy to use, it amazes me that so many people still pay someone to do their taxes for them. Sadly, H&R Block can hire a new CFO if it wants, but that won't change the fact that, like Blockbuster Video, their business model is yesterday's news.

Bonus: "I'm the taxman"


  1. Well, you had to see that coming. As people get more and more behind the 8 ball, paying some dofus to do what you can do yourself makes no sense. Hell up here in Canada you can put all your paper work in an envelope and mail it in to the tax office, they will do it for you. I've done that twice when I got delayed putting in the time on my own.

    My brother uses H&R all the time. Each year he pays them $80 for what he can do himself.

  2. This is exactly what has happened to many other industries like plumbing, electrical repairs, auto repairs, home cleaning services, etc.

    Fewer and fewer people anymore have the discretionary income to pay someone else to do it, so they are either leaving the work undone, or trying to muddle through it themselves.

  3. Sabre that may be true, but when you find yourself in trouble with the IRS, then what are you going to do? Pay lawyer fees, or bank on your Peace of Mind that you received from H&RBlock. H&RBlock is a trust name and with the restructure will beat Turbo Taxten folds!

    1. I guess you missed my recent post about the massive IRS staffing cutbacks. They don't even have the manpower to answer taxpayer inquires anymore. ;)

    2. HR n R block doesnt stand behind its "Peace of Mind" ask anyone who has been audited.. its a scam

  4. Its like running down a narrow deadend street with no way to turn around. Your website offers no results when looking for answers about refund status. The websites you offer up do even worse. My State, State of Georgia, keeps telling me that Ive entered the wrong the information. You would think that after using my SS number for fifty years I would know what it is by now. Not according to them. HR Block doesnt seem to care either. Theres not one single contact option on this site. Why should you care, You have your money, (Now go away and let me screw someone else over for tax preparation fees).