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The Chip Board Archive 14

NCR: H&R Block Gets It's Taxes Wrong

Maybe spending 60+ hours a week preparing tax returns has warped my sense of humor, but I laughed out loud when I read this:

CHICAGO - H&R Block, which provides tax advice to millions of Americans, 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.


Copyright 2022 David Spragg