Market Movers

H&R Block says tax code changes slowed business

The IRS needed extra time to implement tax changes.

Associated Press

The IRS needed extra time to implement tax changes.


H&R Block’s net loss widened in its fiscal third quarter because of a delay to the start of this year’s tax season. The tax preparation company said its net loss was $17.7 million, or 7 cents per share, compared with a loss of $3.3 million, or 1 cent, a year earlier. The results were weaker than Wall Street had expected. Tax season started late this year because Congress and President Obama reshuffled the tax code in legislation passed in early January to avoid the so-called fiscal cliff.

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