H&R Block looks forward to 2015 ACA boost
In an investor conference yesterday to discuss its second-quarter results, H&R Block CFO Greg Macfarlane said the firm is expecting a significant boost in revenue from clients accounting for healthcare policies bought under the Affordable Care Act. He said there is a “pricing opportunity” from the myriad new forms, documents and questions demanded by the measure, and added that it “will only get more complicated as the next few years unravel”. The firm estimates that the number of people enrolled in coverage under the state and federal exchanges will grow to 24m next year; Those who received benefits will have to reconcile the amount of credits they received based on an estimate of their 2014 earnings with their actual income.
While it is quite likely that many people will give up on their taxes this year and resort to using a professional, it is not all doom and gloom. This will be a particularly difficult tax year. My head is swimming from the classes I’ve taken. But frankly, for many of those who have insurance, who have always had insurance, it will be as simple as checking off a box. Now finding that box could be another matter!!!!