Investor Relations


Press Release Details

H&R Block Responds to Inaccurate Media Report Regarding TaxCut(R) Software And Rate Reduction Credit

February 19, 2002
KANSAS CITY, Mo., Feb 19, 2002 /PRNewswire-FirstCall via COMTEX/ -- H&R Block's (NYSE: HRB) TaxCut software has always correctly calculated the Rate Reduction Credit. There has never been an error in the program, as reported by NBC affiliate WAVY-TV in Portsmouth, VA., today.

At issue is taxpayer confusion regarding the rebate check received last year and its effect on their 2001 return.

The rebate check will neither reduce a taxpayer's refund nor increase the tax liability on his/her 2001 return. The amount of the rebate check received must be taken into account to determine if the taxpayer is eligible for a Rate Reduction Credit. This information must be provided whether the taxpayer is preparing his/her own tax return or working with a tax professional.

In addition, software used in H&R Block's more than 9,000 offices nationwide is also accurately calculating the Rate Reduction Credit.

SOURCE H&R Block

CONTACT:

Tom Linafelt, +1-816-932-8418, tlinafelt@hrblock.com , or Denise Sposato, +1-816-932-4909, dsposato@hrblock.com , both of H&R Block URL: http://www.hrblock.com

Copyright (C) 2002 PR Newswire. All rights reserved.