H & R Block History

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Let us venture into an industry that most people do not enjoy, some people avoid, no one really wants to talk about, and everyone is relieved to know it is over for another year. Let's talk taxes!
Considering the service industry of preparing taxes, this essay will review how individual income taxes began, along with the industry growth and its value today. Specifically, we will review the corporation of H and R Block, its history, the products they offer, their marketing mix, their ranking in the industry, their stock value and annual revenues, and the contributions which they make back to society. I currently have the title of tax associate at H and R Block in Thayer, Missouri and am working toward my certification for tax specialist. …show more content…

The current CEO of H and R Block is Jeff Jones, who works alongside Henry Bloch (founder), Tony Bowen (CFO), and Robert Gerard (chairman). The company employs approximately 70,000 tax professionals annually. The home office location remains in Kansas City, Missouri, where the Bloch brothers originally began their business venture. From 1955 to current, H and R Block has approximately 12,000 retail offices worldwide. In addition to the United States, they service clients in Puerto Rico, Canada, North America, Australia, India, and multiple U.S. Military bases around the world. In 1986, Henry Bloch worked with the Internal Revenue Service to introduce electronic filing of a tax return. Today, H and R Block offers electronic filing, online tax preparation, banking products, payroll services, after the fact payroll, bookkeeping, tax specialist consults and financial advisors. H and R Block business products include Approve Online, Tax Pro Review, Emerald Advance, Emerald Card, Emerald Savings, H and R Block Advantage, My Block, Peace of Mind, Refund Transfer, Second Look, Tax Identity Shield, W-2 Early Access, and Refund Advance (H & R Block DNA documents, …show more content…

Why should they do this? Changes in the industry have shifted with more consumer options, web based programs, electronic filing, and mobile apps. As the tax preparation process has become faster and more efficient with the digital age, the market has become even more competitive. Businesses within this industry must focus on strategies to service both online and offline offerings. H and R Block joined with IBM's Mr. Watson in 2016. This strategy is to keep up and surpass the competition with company experience, advanced security, computing technology, and innovation. Teams for H and R Block are constantly seeking ways to improve their system and the products they offer, in continuance to “look at your life through taxes and find ways to

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