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2024
June 12th, 2019 at 10:24 am
from HRB earnings:
H&R Block (HRB) CEO Jeffrey Jones on potential legislative headwinds… Just take one step backwards as we evaluate the tax reform going back over a year ago, we have done our own historical look at each time there had been a major change to tax law over history and obviously with our history, we're able to look back a long time and what we saw was never in history has there been a change to the tax law that created a significant shift in method type. So as we prepared for tax legislation changes, we had that as a backdrop. And I think when we look at this season there were a lot of interesting dynamics starting with tax reform, then the government shutdown. We saw a shift from assisted to DIY as you said consistent with what we've seen in the last four or five, six years. We didn't see it accelerate at all. And we saw consumers looking for help in lots of different ways as evidenced by our trajectory in assisted, as evidenced by our growth in things like Tax Pro Review where consumers were looking for advice and making sure that they were making the right choice whether it was choosing us to do their taxes or validating the work they had done themselves. And we think that that ecosystem that we're building to serve consumers in so many different ways is a great way to make sure we're listening to the consumer and being able to respond to them again whether they have a simple question or want someone to do all the work for them.