H&R Block purchased Olde Discount Stockbrokers in 1999 and operated as a full-service securities broker-dealer under the name H&R Block Financial Advisors.
The company began to expand in the 1990s into the financial services arena, offering mortgage loans, banking and business services. In 1995, H&R Block sold MECA, but retained TaxCut. H&R Block acquired MECA Software, a 1980s PFM company that created the TaxCut software, in 1993. That year, the company worked with the Internal Revenue Service to introduce electronic filing. By 1986, Block was handling more than 10 million tax returns annually and had opened offices in Canada and Australia. In 1980 H&R Block purchased the Compuserve online service. In the following years, H&R Block grew and went public in 1962. Neither brother wanted to move to New York, so they agreed to sell that regional operation, creating the first H&R Block franchise tax office. In 1956, the Blochs decided to expand and picked New York City.
The Bloch brothers chose to spell the name "Block" with a K to ensure the name is not mispronounced "blotch". The ad was a success and H&R Block was born. The brothers took out an ad for its $5 tax services in The Kansas City Star newspaper in 1955. Henry and Richard Bloch jointly ran their United Business Company, which focused on accounting, bookkeeping and payroll, but also did some income tax work for clients. He got an unexpected response-from his mother-who proposed that Henry hire his younger brother, Richard, for the job. Henry wanted to keep trying with the fledgling business and placed a newspaper advertisement for help-wanted. However, four months later, they had few clients and Leon decided to seek a law degree. That year, Henry and his older brother, Leon, borrowed $5,000 and opened a small bookkeeping business on Main Street in downtown Kansas City. Home from the war in 1946, Henry saw a pamphlet suggesting a bright future for companies serving small businesses, and it sparked his imagination. Bloch was a young Army Air Forces navigator who wanted to start a family business with his brothers in Kansas City. The company offers payroll, and business consulting services, consumer tax software, and online tax preparation/ electronic filing from their website.ĭuring World War II, Henry W. Bloch and Richard Bloch.Īs of 2018, H&R Block operates approximately 12,000 retail tax offices staffed by tax professionals worldwide. The company was founded in 1955 by brothers Henry W.
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