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H&R Block Flubs Its Own Taxes

H&R Block Flubs Its Own Taxes

by Rick Turoczy on February 24, 2006

H&R; Block Inc. (HRB), which provides tax advice to millions of Americans, made an embarrassing confession on Thursday. It goofed on its own taxes.

“It wasn’t particularly material,” said Alexander Paris, an analyst at Barrington Research in Chicago. “And it’s not particularly unusual. A lot of companies are going back and reviewing their controls because of Sarbanes-Oxley and finding tax errors. But for a company like H&R; Block, it was particularly embarrassing.”

The company also cut its forecast for full-year 2006 earnings, blaming, among other things, “a slower start to the tax filing season than in previous years.”

H&R; Block Flubs Its Own Taxes

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