H&R Block's Online Tax Products and Services Launch This Weekend

Jan 10, 2003

Advice-Based Features, Personalization and Ease-of-Use Make hrblock.com a Fast

And Convenient Tax Solution for Do-It-Yourselfers

KANSAS CITY, Mo., Jan. 10 /PRNewswire-FirstCall/ -- H&R Block (NYSE: HRB) this weekend launches the only do-it-yourself, online tax programs that combine the speed and convenience of the Internet with the assurance that comes with personalized, money-saving tax advice from the nation's leading tax company.

Online tax preparation cuts hours from pen-and-paper tax prep time, and H&R Block offers the widest range of Internet-based taxpayer services, from the do-it-yourself Online Tax Program to having an H&R Block tax professional prepare, sign and file the return via the Internet. Online taxpayers also enjoy the benefits of e-filing, including faster refunds, more accurate returns, and confirmation that the Internal Revenue Service has accepted their return.

Clients at hrblock.com provide information via a simple, click-through interview that features built-in assistance and tax advice from H&R Block. Depending upon the clients' needs and comfort levels, they can select from a range of "hand-holding," advice-based products that provide one-on-one connections with H&R Block tax professionals.

"Seamless access to trusted H&R Block advice and experience is what truly differentiates our online products and services from any others," said Mark Ciaramitaro, vice president of H&R Block's e-solutions. "No other company can offer such a combination of technology and knowledge."

DO-IT-YOURSELF ONLINE TAX PREPARATION

Online Tax Program - Do-it-yourself convenience with support every step of the way from H&R Block advice

H&R Block's Online Tax Program is ideal for the do-it-yourself taxpayer looking for a faster, easier solution than traditional pen and paper. New features deliver speed, convenience and H&R Block advice. Features include:

  • New! No Credit Card Required! - H&R Block's new Simple Pay product eliminates the need for a credit card by deducting tax preparation fees from a taxpayer's refund amount.

  • Tax Law Assistant - Provides relevant information about how new tax law changes will affect taxpayers now and in the future. H&R Block also helps each user learn to maximize their tax benefit under the new changes. A graph available at hrblock.com charts the inception of new tax laws and how those laws will affect an individual's tax situation.

  • Comprehensive IRA Advisor - Provides complete IRA planning tools and Express IRA technology that enables users to instantly open an IRA and fund the account with their tax refund.

  • Home Mortgage Advisor - Determines if taxpayers can save money and get increased tax advantages by refinancing their current home or consolidating debt under a home equity loan. H&R Block assists taxpayers in taking advantage of lower mortgage rates and provides clients with options for future savings.

  • Data Import - Dramatically cuts preparation time by automatically and instantly importing W2 and 1099 data from participating employers and financial institutions, along with the previous year's tax data from H&R Block online tax services, H&R Block offices, and TaxCut(R) software.

  • Accuracy Guarantee - If the Online Tax Program makes a calculation error, H&R Block will pay any resulting penalties and interest assessed by the IRS.

NEW!

Online Tax Plus - Do-it-yourself convenience with year-round advice and planning tools

New for tax season 2003, Online Tax Plus gives clients a new, deeper level of personalization and advice via year-round planning tools, along with the option of having an H&R Block tax professional review their return to look for missed credits and deductions and to provide money-saving advice before e-filing to the IRS.

  • New! Free Professional Review - Clients can elect to have a free consultation and review of their return by an H&R Block tax advisor prior to IRS filing

  • NEW! My Tax Return Comparison - Clients can see how their returns compare to national averages.

  • NEW! My Home Loan Advisor - Clients on a year-round basis can quickly see how home-ownership impacts their tax situation.

  • NEW! My Donations Tracker - Gives clients a central resource to track their donations throughout the year and import them into their return at tax time.

  • NEW! My Investment Planner - Helps users optimize their retirement savings with a customized, interactive planning tool. Based on the client's information, H&R Block provides a tailored retirement savings plan and college planning tool. The tool also performs "what if" scenarios so users can select the best retirement plan for their lifestyle.

  • NEW! My Tax Savings Advice - H&R Block built-in advice gives users year-round tax savings tips and planning strategies.

PROFESSIONAL ONLINE TAX PREPARATION

Professional Tax Service - Complete, professional tax preparation via the Web

For those who prefer to have a professional do their taxes, H&R Block's most comprehensive Internet-based service, Professional Tax Service, enables users to conveniently collaborate with an H&R Block tax professional who completes their tax return. Clients submit information electronically, and an H&R Block tax professional does the rest. -- New! Simplified Online Questionnaire -- The Professional Tax Service's 

       new, simple online questionnaire -- which takes about 10 minutes -
       provides the ability to ask questions and make comments throughout the
       process.
    -- New! Free, Live Support! PTS clients have instant access to support
       from H&R Block tax professionals via instant messaging.
    -- Personal Interview -- An experienced H&R Block tax professional calls
       the client, usually within 24 hours after they complete their tax
       organizer, to probe for tax-saving information and provide personalized
       advice. The tax professional and client continue to communicate until
       the return is complete.
    -- Signed, e-Filed and Guaranteed - Once the client approves the return,
       the H&R Block tax professional signs it and e-files it to the IRS. The
       return includes the H&R Block guarantee: if H&R Block makes an error in
       the preparation of your return, H&R Block will pay any resulting
       penalties or interest assessed by the IRS.

About H&R Block

H&R Block Inc. (www.hrblock.com, http://hrblock.com) is a diversified company with subsidiaries that deliver tax services and financial advice, investment and mortgage products and services, and business accounting and consulting services. As the world's largest tax services company, H&R Block served nearly 23 million clients during fiscal year 2002. Clients were served at the approximately 10,400 H&R Block retail offices worldwide and through the company's award-winning software, TaxCut(R), and its online tax services. H&R Block is the only major tax and financial services company that focuses primarily on helping middle-income taxpayers achieve their financial goals. Investment services and securities products are offered through H&R Block Financial Advisors Inc., member NYSE, SIPC. H&R Block Inc. is not a registered broker-dealer. H&R Block Mortgage Corp. offers retail mortgage products. Option One Mortgage Corp. offers wholesale mortgage products and a wide range of mortgage services. RSM McGladrey Inc. serves mid-sized businesses with accounting, tax and consulting services. SOURCE H&R Block Inc.

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/CONTACT: Tom Linafelt of H&R Block, +1-816-932-8418, tlinafelt@hrblock.com , or Sean Wheeler, +1-816-960-3116, swheeler@bwcom.com , or Natalie Lutz, +1-816-960-3106, nlutz@bwcom.com , both of Boasberg Wheeler Communications for H&R Block/