Kansas City, Mo. – Low-income working people tend to qualify for tax refunds, to get their taxes done early and to buy lucrative "refund anticipation loans". Until recently, H&R Block expanded aggressively to grab that business.
But Block's tax preparation work dove 5 percent this year. CEO Russ Smyth says the mounting popularity of tax preparation software cuts into their business, but that double digit unemployment among the working poor cuts deeper.