Irony: H&R Block Reports Tax Miscue, Restating Earnings

Published on:
12 September 2006 at 10:20 a.m. ET

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http://www.insidearm.com/news/00003871-irony-hr-block-reports-tax-miscue-restati/

By James Kelleher, Reuters

H&R Block Inc., which provides tax advice to millions of Americans, made an embarrassing confession on Thursday. It goofed on its own taxes.

The company, which is in the middle of its make-or-break season preparing other people’s tax returns, said it had underestimated its own “state effective income tax rate” in previous quarters — meaning it owes another $32 million in back taxes.

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