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H&R Block shedding ExpressTax

By Associated Press
September 30, 2011

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KANSAS CITY, Mo. - H&R Block Inc. is stopping service under its ExpressTax brand, which helped people who filed their taxes early and wanted refunds quickly.

The news comes a little over two weeks after the nation’s biggest tax preparer said it won’t offer refund anticipation loans next tax season because it’s getting more new clients and the appeal of the high-cost loans is shrinking.

ExpressTax was traditionally an early season business, an H&R Block spokesman said. Typically, the customers who sought refund anticipation loans did so in late January and February. There are currently 269 ExpressTax franchise offices. H&R Block says it will ask many of the franchisees to join its main brand.