H&R Block Goofs

Posted on 25. Feb, 2006 by in News, Taxes

I couldn’t resist this…

CNN Money is reporting that H&R Block made an embarrassing confession on Thursday. It goofed on its own taxes.

The company, which is in the middle of its make-or-break season preparing other people’s tax returns, said it had underestimated its own “state effective income tax rate” in previous quarters — meaning it owes another $32 million in back taxes.

As a result, H&R Block said it would restate previously reported earnings going all the way back to 2004.

All I have to say is… ouch! It will be interesting to see how this affects their tax season.

One Response to “H&R Block Goofs”

  1. Lindsay

    27. Feb, 2006

    My friend has me on her list of free returns for this year; she works for H&R Block. I was going to try to do my own taxes anyway, but this is all the more reason to do my own, lol! Not that I don’t trust my friend, but still! hehe. She may still end up doing them anyway, who knows, they’re pretty complicated this year.

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