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Block restructures tax ops

(June 15, 2009)


H&R Block is re-aligning its tax and corporate structures and putting CEO Russ Smyth in charge of its tax operations.

The company plans to combine its previously separate retail tax, digital tax, franchise operations, company field operations and corporate units in the tax sector into a single structure. As a result, Tim Gokey, president of the retail tax unit, is leaving.

Block saw a decline in the number of tax returns it prepared this past tax season, although it charged customers more per return. The company was also hurt by the mortgage crisis, which led it to divest its Option One mortgage unit.

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Smyth added that the company plans to put more emphasis on its rapidly growing online unit, which provides a Web-based version of its TaxCut software, as well as remote tax prep services, support and advice.

(c) 2009 Accounting Today and SourceMedia, Inc. All Rights Reserved.

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