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At Barron's

H&R Block CEO on Refunds, the IRS, and How AI Can Help Do Your Taxes

At Barron's

At Barron's

Business

4.717 Ratings

🗓️ 5 October 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

CEO Jeff Jones talks about what he's expecting for the coming tax year.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello everyone and welcome to At Barrens. I'm Andy Surwer and welcome to our guest, Jeff Jones, CEO of H&R Block. Jeff, nice to see you.

0:08.6

Great to see you as well Andy. Thank you. So I want to ask you all about the company and the transformation that you're leading there.

0:14.9

But let's start off a little bit with taxes and maybe just tell us a little bit about some of the key issues and the tax season

0:22.5

just passed. Yeah. And then coming up into 2024, not too early to start thinking about that,

0:28.1

right? Yeah, well, no, for us especially, it's never too soon. I mean, you can talk about that two

0:32.7

ways. As a company, we haven't had a normal tax season in many, many years.

0:38.7

A lot of regulatory change, obviously the pandemic, natural disasters.

0:43.7

Those all cause the filing deadlines to move.

0:46.1

It crosses fiscal years.

0:48.0

So it's been a pretty rocky external environment.

0:51.3

To the consumer, to the taxpayer, every year, there are thousands of changes

0:56.6

to the tax code. Now, as we look at 2024, we actually, for the first time in many years,

1:02.9

are not aware of any major changes coming. So from that standpoint, we think and anticipate it

1:09.4

will be a more normal year. But obviously, we're

1:11.9

thinking about it year-round.

1:12.9

I want to ask you about the IRS. On the one hand, you have people saying defund the IRS.

1:18.7

On the other hand, you got more funding coming to the IRS from the Biden administration.

1:24.8

Where are things going to play out? And what's your take on that situation? Well, I've learned not try to predict what the are things going to play out and what's your take on that situation?

1:28.3

Well, I've learned not try to predict what the government's going to do, so I won't make a future prediction, but we absolutely support the IRS receiving funding.

1:38.3

They are notoriously underfunded. So you think about we represent the consumer every single day. And you

1:47.0

don't know where your refund stands. You don't know why it's taking so long. You can't get

1:51.2

someone on the phone with a question. I mean, those should be more basic service requirements,

...

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