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10 – 15
10% Every 5 years
20 – 40 Years
Absolute NNN Lease
Corporate and Franchise
company in the United
States, claiming more than 24.5 million tax returns prepared worldwide, with offices in Canada, Australia, Brazil,
and India. The
City-based company also offers banking, payroll, personal finance, and
business consulting services.
Founded in 1955 by
Block today operates 11,000 retail tax offices in the United States, plus another 1,700 abroad. Block offers its
own consumer tax software called H&R Block at Home (formerly TaxCut), as well as online tax preparation
navigator who wanted to
start a family business with his brothers in Kansas City.
Home from the war in 1946, Henry saw
a pamphlet suggesting a bright future for companies serving small businesses, and it fired his
That year, Henry and his
older brother, Leon, borrowed $5,000 and opened a small
business on Main Street in
downtown Kansas City.
However, four months later,
they had few clients and Leon decided to seek a
Henry wanted to keep trying with the
fledgling business and placed a newspaper ad for help-wanted.
He got an unexpected
response—from his mother—who proposed that Henry hire his younger brother,
Richard, for the
Henry and Richard Bloch
jointly ran their United Business Company, which focused on bookkeeping, but also did some income tax work for
clients. The brothers found that doing taxes was time-consuming and they decided to end that type of service. One
of their clients, John White, an ad salesman for
The Kansas City
newspaper, had a different
idea; he suggested the Blochs make tax preparation a separate business and developed an ad announcing $5 tax
services. The Blochs were not convinced, but they agreed to run the ad in January 1955. The next day, the brothers
had an office full of tax clients, and H&R Block was born.
In 1956, the Blochs decided to expand
New York City.
The move was profitable, but neither brother wanted to move to New York, so they agreed to sell that regional
operation to two local accountants. However, since the would-be buyers could not meet the asking price, the
parties agreed the Bloch brothers would get $10,000, plus royalties from the tax operation, creating the first
tax office. The Bloch
brothers chose to spell the name "Block" with a K to ensure the name is not mispronounced "blotch."
In the following years,
H&R Block grew quickly and went public in 1962, then opened its first tax training school in 1965 to meet the
demand for skilled tax professionals at its franchise offices.
A TV ad campaign begun in 1972
featured Henry Bloch and became the springboard for H&R Block becoming one of the most widely
names in the U.S. In 1980
H&R Block purchased the
By 1986, Block was handling more than
10 million tax returns each year and had opened offices in
year, Block worked with the
filing. Since then, Block has moved further into the digital realm with tax software and online tax
The company began to expand in the
1990s into the financial services arena, offering mortgage loans, banking, and business services. H&R Block
purchased Olde Discount Stockbrokers and operated as a full-service securities broker-dealer under the name
H&R Block Financial Advisors. By 2007, the unit was managing $33 billion in assets, offering investment
planning, advice and related financial products and services, and employed 900 financial advisors in the U.S. In
2008, H&R Block sold the unit to
for US$ 315
RSM McGladrey Business Solutions was
created in 1999 when H&R Block acquired the assets and business of
Pullen, based in Bloomington, Minnesota. McGladrey had 100 offices in 25 states and offered
accounting, consulting, tax services, and international business services to mid-sized companies. Its clients
included business in the construction, health care and manufacturing industries. Through an alliance with
McGladrey & Pullen and other accountancies, the Block subsidiary operated in 70 countries under the RSM
International name. In 2011, H&R Block sold the unit to McGladrey & Pullen.
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