These are top 10 stocks traded on the Robinhood UK platform in July
KANSAS CITY, Mo. - H&R Block (NYSE: HRB) has partnered with OpenAI to create a generative artificial intelligence (GenAI) platform aimed at enhancing the tax filing process for its clients. This collaboration seeks to leverage OpenAI’s advanced AI models with the expertise of The Tax Institute at H&R Block to provide personalized tax guidance.
The Tax Institute, which comprises tax attorneys, CPAs, and enrolled agents, focuses on analyzing tax code changes to support H&R Block’s network of over 60,000 tax professionals. The GenAI solution is expected to improve The Tax Institute’s ability to offer real-time assistance to these professionals, ensuring accurate and tailored tax information for the company’s more than 20 million clients.
"By pairing OpenAI’s advanced AI technology with the unparalleled tax knowledge of The Tax Institute, H&R Block’s tax experts can deliver more personalized, highly nuanced guidance, streamline tax preparation, and improve the experience for millions of Americans," said Ronnie Chatterji, Chief Economist of OpenAI.
The initial phase of this new GenAI solution is slated to launch later this year, with a broader deployment planned for the 2026 tax season. In addition to enhancing tax preparation services, the partnership will explore the broader implications of AI in professional tax services and assist H&R Block in developing scalable AI solutions for various use cases within the company.
Scott Manuel, Chief Strategy and Operations Officer at H&R Block, highlighted the potential benefits of the collaboration, noting the complexities of tax preparation for both taxpayers and professionals. He expressed confidence that the partnership with OpenAI would enhance the company’s ability to provide real-time support to clients.
This initiative builds on the success of H&R Block’s AI Tax Assist, a GenAI experience launched before the 2024 tax season, designed to simplify the online do-it-yourself (DIY) tax preparation process by combining decades of tax expertise with artificial intelligence.
The information for this article is based on a press release statement from H&R Block.
In other recent news, H&R Block reported a wider-than-expected loss for the second quarter of fiscal 2024, with an earnings per share (EPS) loss of $1.73, missing analysts’ forecasts of a $1.59 loss. Revenue for the quarter was $179 million, falling short of the anticipated $183.4 million. Despite these figures, the company reaffirmed its full-year financial outlook, maintaining confidence in its strategic initiatives. In leadership news, Richard A. Johnson was appointed as the new Chairman of the Board, effective April 1, 2025, succeeding Robert A. Gerard. This leadership transition is part of H&R Block’s strategic planning for growth and transformation.
Additionally, H&R Block’s Block Advisors partnered with The Home Depot to provide Pro Xtra members with discounted tax preparation and business services. This collaboration aims to simplify tax and bookkeeping responsibilities for professional customers. The company also highlighted ongoing product innovations and operational updates during its earnings call, emphasizing its commitment to digital and human tax preparation services. Analysts from firms such as Oppenheimer have been closely monitoring these developments, particularly in light of the competitive landscape in the DIY tax preparation market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.