H&R Block posts 5 percent drop in 4th-qtr profit

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NEW YORK (AP) — HR Block Inc. said Thursday that its fiscal fourth-quarter profit fell 5 percent, as revenue declined and the company booked charges related to its loss of its refund-backed loan program.

After the nation’s largest tax preparation company lost its refund loan business due to regulatory decisions, it shifted its focus toward beefing up its online tax preparation offerings and targeting younger customers with free simple tax form preparation. The moves paid off in helping HR Block gain

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